Trustee’s Report (continued) Financial Review
Charitable activities We support high-quality research across the breadth of the biomedical sciences – from “blue skies” to clinical and applied research – and encourage the translation of research findings into medical benefits. Our funding in the medical humanities and public engagement seeks to raise awareness of the medical, ethical and social implications of research and to promote dialogue between scientists, the public and policymakers. Although the majority of grants are awarded to recipients in the UK, 11% of grant funding this year was awarded directly to support research overseas. Grant funding is usually channelled through a university or similar institution in response to proposals submitted by individual academic
researchers. Applications are peerreviewed and expert committees typically make the funding decisions. Where initiatives fall outside of established review process, decisions are made by the Strategic Awards Committee. Grant awards are made to the employer institution, which takes responsibility for grant administration. Only a limited number of small-scale awards are made directly to individuals. We also fund our own research centre, the Wellcome Trust Sanger Institute, channelling support through a wholly owned subsidiary, Genome Research Limited. Researchers use genome sequences to advance understanding of the biology of humans and pathogens in order to improve human health.
Charitable activities represent funding that we commit to in each year. These commitments will be paid in cash in future years. The total expenditure in the chart below includes commitments each year from a special dividend fund declared in 2007 for initiatives of global importance, with exceptional vision and scale, and where there is the prospect of high impact outcomes. Commitment on these initiatives peaked in 2009 for projects such as Francis Crick Institute (note 15(d)), the Sainsbury Wellcome Centre for Neural Circuits and Behaviour and the African Institutions Initiative.
Charitable activities by type (£m) Support
701.6
Wellcome Trust Genome Campus Medical Humanities and Engagement
43.8 97.0
519.8
Technology Transfer
47.1
Science Funding
82.1
55.6 41.2
720.4 39.8 109.6 35.8 73.5
678.1 43.0
641.8 44.9
104.6 34.9 59.2
111.7 39.8 67.6
30.0 26.9 464.0
461.7
436.4
377.8
2010
2011
333.7
2007
08 | Annual Report 2011
2008
2009