| Foundation begins building financial future |
| |
| The AGM heard from
treasurer Andrew Borge how Foundation reserves were being replenished
after the £100,000 cost of the International conference in 2009.
With the global economic problems and a reduction in both corporate
and personal donations the Foundation had seen a dramatic drop in
income versus previous years. With careful cost management by holding
back an issue of the magazine and reducing the family meetings for a
year the Foundation was able to make a positive contribution of
almost £12,000.
Steps are being taken
to begin a push for more fundraising to reach the target of £250,000
reserve set by the president to guarantee continuity of the services
in fluctuating conditions. The Treasurer also said he had switched
the Foundation’s deposit account to a new bank in order to secure
better interest rates.
The audited accounts:
|
INCOME |
|
|
|
|
2010 |
2009 |
|
Donations |
£17,316.00 |
£78,723.00 |
|
Fundraising |
£38,280.00 |
£40,369.00 |
|
Meeting revenue |
£3,194.00 |
£96,056.00 |
|
Bank Interest |
£63.00 |
£69.00 |
|
Research grant |
£6,320.00 |
£ - |
|
|
|
|
|
TOTAL |
£61,979.00 |
£215,217.00 |
|
|
|
|
|
EXPENDITURE |
|
|
|
Office & staff costs |
£23,918.00 |
£25,412.00 |
|
Meetings |
£10,320.00 |
£204,866.00 |
|
Legal & prof |
£2,981.00 |
£2,589.00 |
|
Fund Raising |
£1,974.00 |
£3,453.00 |
|
Bank charges |
£232.00 |
£1,280.00 |
|
Research cost |
£10,800.00 |
- |
|
TOTAL |
£50,225.00 |
£315,371.00 |
|
|
|
|
|
Income over Exp |
£11,754 |
-£100,154.00 |
|
|
|
|
|
Total reserves: £147,432 |
|
|
|
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