INTRODUCTION
Page 2
Our Charity
I
1.
am delighted to introduce our WCIT Charity Review of 2012, which will tell you about our funding and our achievements during the last year thanks to your generosity and hard work. 2012 was a year of change for us; for several years most of our fundraising attention has been directed, very successfully, towards a £1M endowment for the Hammersmith Academy. The school opened in late 2011 and is developing very well. As we near the end of that campaign we have reviewed our strategy and are now focusing on two key objectives: Ensuring the health of our own endowment fund which is vital to supporting the breadth of our members’ charitable work through committees and panels and the infrastructure that enables that. Building a stream of income from continuous giving and member fundraising for a small portfolio of selected charitable causes. I would like to draw your attention to some key aspects of our charity, which make this an exceptionally efficient way to give: ? ? Our overhead costs are fully covered by the income from our endowment, so every £1 you give goes 100% to charitable causes. Working with our strategic partners, and using the time and skills of our members, ensures that each £1 donated generates £10 of value delivered.
2.
In our annual review we aim to show you how we have performed in these areas and give you some feel for the difference our charity has made. The endowment fund is currently benefiting from positive investment performance and our policy is to add to it, when we can, out of any core operations’ surplus and legacies received. Expanding our support for our chosen charitable causes, as detailed in the review, is critically dependent on growing the income from member giving and fundraising.
I hope you agree that WCIT Charity is a great way to support some very good causes in a most effective manner. If you are already supporting us, thank you very much; please continue, we really do appreciate your commitment. For those of you who are not yet active in our charity, I hope this glimpse into our work, purpose and direction might inspire you to get involved in one way or another. If you have questions that we have not addressed then do please get in touch. Jo Connell OBE DL Chairman of the WCIT Charity
Thank you to all those who gave so generously of your time and money to our WCIT Charity in 2012
Inside this issue:
Introduction WCIT Charity Snapshots Your support: Income & Expenditure AbilityNet iT4C Our partner schools Giving Back 2
Statement of Financial Activities for the Year Ended 31st December 2012
Total Incoming: £444,591 Total Expended: £592,097
3
4 & 5
6
7
Voluntary Income: £211,087-Members’ donations and legacies Activities for generating funds: £7,820- Event Income
Costs of generating voluntary income: £26,299 Fundraising events expenses & other costs: £4,442 Investment management expenses: £24,032 Charitable activities: £530,372 Governance costs: £6,952
8
Investment Income: £206,682 Other incoming resources: £19,002- Room hire & Services;
CITO Cutter
Full breakdown of charts can be found in the published 2012 Statutory Accounts for WCIT Charity
WCIT CHARITY REVIEW