Income and Expenditure
As of July 2018 we have raised just over £55,000 by way of donations and fund-raising events. Of this:
- The cost of organising the fund-raising events came to £10,000.
- We have given out over £38,000 in awards.
- We have retained reserves of about £6,000.
It is our goal to build up sufficient retained reserves so that, when invested, the income generated can be used to grant awards in perpetuity. To enable this to happen we have committed ourselves to pay out in each financial year no more than 50% of the amount raised in the prior financial year, with the remainder being invested. We have not always met this target but are inspired both to meet, and to exceed it as the charity ‘grows up’.