For the year under review the total incoming resources for the Savoy Educational Trust amounted to £959,720 (30.59% decrease on 2009: £1,382,625) with total resources expended amounting to £1,344,144 (40.46% increase on 2009: £956,936). Resources expended for the year under review are broken down as shown below (see al
so Table 1):- The amo Suppo u
was a 52 % incr was £680,3
66.
unt expen ed on charita le activiti .07
d b
support costs amounted to £94,701. Governance costs fo costs totalled £44,0 F nd Mnagmen £147,69 £137,819
r te yar to h e 50. a e
6 a 7.17% increase on 20 .
rt costs totalled £117,06 , a 23 % incr d £44,751 st
ease on 2009 where the am 3
.61 talle , nme h
es amounted to £1,034,634 ount expended on charitable activi
, a 159
ease on the 20 . % incr
. This ties
09 total wher ease on 2009 wher
e e
t fees a ly te co s o e ra g fnd mu e 09 where costs of gener ting funds amounted to
f gne tin u s, a ontd to a
The sole source of income for the Trust is derived from investment returns. When setting the annual budget the Trustees take into account the professional advice offered by their investment managers regarding the market outlook, investment trends and yield, and the prospect for future capital growth. Expenditure targets may be over or under-spent in an individual year in a controlled manner reflecting demand and the quality of applications.
£1,000,000.00 £1,200,000.00
£200,000.00 £400,000.00 £600,000.00 £800,000.00
£0.00
Charitable Activities
Ta ble 1 APPLICATION PROCEDURE
The majority of applications for assistance are considered by the Trustees four times a year in March, June, September and December.
The Trustees welcome applications for funds from educational establishments with a hospitality department; industry associations and charitable organisations with specific
8
Support Costs Governance Costs
Costs of Generating Funds £1,034,634
£117,063
£147,696 £44,751
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