Accounts

Our full audited accounts are published here every year, and the grant list on this site is the same list that appears in them.

What we spent last year

Of every pound we spent, 88p went out as grants, 8p paid for the people who assess and monitor them, and 4p covered everything else — audit, insurance, rent, software.

We do not describe the 8p as an overhead we are trying to reduce. Assessing a grant properly, and visiting the organisation afterwards, is the part of this job that decides whether the other 88p was worth spending.

Reserves

We hold twelve months of committed grant payments in reserve. That is deliberately more than the sector norm, because a multi-year grant is a promise and an organisation that has restructured around it cannot absorb our bad year.