Financial report

REPORT FROM OUR TREASURER

The unaudited Trustees’ Report and Financial Statements for 2021 show income up on the previous year. Expenditure on charitable activity and on raising funds also increased. When budgets were prepared in late 2020 the third Covid wave threatened to curtail all fundraising activity. I am therefore particularly pleased to report the increase in revenue. As always, we are extremely grateful for funds raised by individuals and communities. The events organised and challenges undertaken were as varied and demanding as ever and the contribution to the Trust’s income well ahead of 2020, which was so blighted by the pandemic. Our own events were also very well supported and funds raised were similar to last year. Although down on the previous year, grants from charitable trusts and foundations was again our largest source of income. An increase in corporate giving compensated for a reduction in donations from individuals. Donations from training in schools, colleges and universities were also up despite difficult access. During the year charges for workplace training were introduced, which meant donations from employers fell; however, in aggregate training-related income was up. As planned, charitable expenditure reached a new record level with large increases in expenditure on the Schools and Families, Colleges and Universities and Workplace programmes. Expenditure on the much smaller Primary Care programme was at a similar level to 2020. As the Trust sought to increase its income and thereby its outreach and work, additional staff were recruited and inevitably the cost of raising funds increased. This is an essential precursor to further growth in the Trust’s charitable work, the need for which has never been greater as young people contend with all the stresses of life in 2022.

After modest investment gains there was an overall deficit which was less than budgeted due to the better than expected income. 2022 is going to be another challenging year and as ever the trustees are acutely aware that almost all the Trust’s income is given voluntarily. They are therefore tremendously grateful to all those who continue to support its work. In setting the budget the trustees have provided for a further substantial increase in charitable expenditure and a material overall deficit. However, if the recent strong growth in charitable expenditure is to be maintained income must rise commensurately. The audited Trustees’ Report and Financial Statements for 2021 will be approved by the trustees and filed with the Charity Commission by the end of May. Further details will be given in the next newsletter but if you would like a copy please contact the Trust’s office or email admin@charliewaller.org.

ROBIN BOOTH FCA

TREASURER