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marketing, and employee engagement skills in order to increase their professional business practices. Mindful of this and to help ensure the leadership of the future for the hospitality industry is as focused, relevant and informed as possible, the Trustees in the year under review took the decision to explore the possibility of supporting a number of people on a MBA programme at Cranfield University.
T ANIRI NG FOR LF IE–DRMUT PRNT A T O H AP E ICE
The Trustees were disappointed to learn that a project they have supported over a number of years fell victim to the economic downturn and funding cuts. The last grant awarded to The Dartmouth Apprentice was in the previous year end to support five apprentices with their training and two pre employability programmes for 20 participants. The Trustees were pleased to note, following receipt of an evaluation report, that their funding was used for the purposes awarded.
R ICHAD T P R URIN, ME B, FIH
In the year under review Richard Turpin who was appointed a Trustee in 1998, received the Caterer & Hotelkeeper ‘Lifetime Achievement’ Catey which the industry refers to as its Oscars night. In the New Year Honours list he was also awarded an MBE for his charitable work.
For the year under review the total incoming resources for the Savoy Educational Trust amounted to £1,238,723 (12.62% increase on 2012: £1,099,957). Grants paid during the year totalled £886,456 (45.23% decrease on 2012: £1,618,383). As highlighted in last year’s annual review a grant of £600,000 was awarded to Oxford Brookes University to support the creation of a social learning space within a new building that will house the Oxford School of Hospitality Management. It should be noted that the Trustees rarely award grants of that magnitude and would go some way in explaining the rather large decrease in the grants paid during the year under review. Support costs totalled £105,388 (27.59% decrease on 2012: £145,549). Governance costs totalled £50,604 (6.40% increase on 2012: £47,561). Costs of generating funds, namely fund management fees, totalled £168,129 (11.55% increase on 2012: £150,723).
The grants paid during the year, together with support costs, governance costs and costs of generating funds are detailed below in Table 1.
£1,000,000 £1,200,000 £1,400,000 £1,600,000 £1,800,000
£200,000 £400,000 £600,000 £800,000
£0 Grants Paid Ta e 1 bl Support Costs
Governance Costs
Costs of Generating Funds £1,618,383
£886,456
Year End 2012 Year End 2013
£145,549 £105,388
£150,723 £168,129 £47,561 £50,604
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