The good work undertaken by the Development
Office was well-rewarded by a record result.
The total received in the year was £3,560,000.
I N C O M E (£ ’ 0 0 0 )
1
School fees and other School income (net) (22,470)
2 Trading and other income (627)
3 Investment and interest income (2,180)
Fundraising Income:
4 New endowment (2,295)
5 Other fundraising income (1,265)
4
5
3
2
1
E X P E N D I T U R E (£ ’ 0 0 0 )
1
Charitable – School (22,934)
Charitable – Quiristers (196)
3 Charitable – Ancient Buildings and Collections (887)
4 Trading (271)
5 Financing and investment management (760)
Development Expenditure:
6 Fundraising (501)
7 Other Activities (361)
2
2
5 67
34
1
Fundraising: This is the fourth income stream and the
good work undertaken by the Development Office
was well-rewarded by a record result. The total
received in the year was £3,560,000, up significantly
on the previous year (2014: £2,929,000) and we
continue to be extremely grateful to all donors.
Fundraising falls into two distinct categories. Donations
to endowed funds amounted to £2,295,000, including
£995,000 for the Bursary Fund, £660,000 to fund a
full time Natural History don, £203,000 towards the
future operation of the new Treasury and £197,000
for the Wykeham Fund, which supports the School’s
three principal, charitable objectives: bursaries, Ancient
Buildings and Quiristers. Although new endowment
is treated as income under charity accounting, in
practice this money has to be ring-fenced and invested,
and hence is not immediately available to support the
School’s activities.
Other fundraising and development income,
available for immediate use, increased by £41,000
to £1,265,000, including a further £304,000
towards the construction of the Treasury.
This report provides the briefest summary of a
complex and varied organisation. For a fuller picture,
I recommend the statutory accounts, which can be
found on the College’s and Charity Commission’s
websites. The first twenty pages or so are an easy
read and have a good story to tell, of the breadth and
scope of the School’s ambitions and achievements.
They highlight the College’s six current targets
and aims, pre-eminent amongst which is widening
access through the bursary programme.
In the 2014/2015 academic year £2,140,000 was spent
on bursaries, the equivalent of over 61 full fees and
9% of gross fee income. 102 boys received assistance
with school fees totalling £2,119,000 and a further
£21,000 was provided towards the cost of extras and
school trips in order that they can play a full part in
the life of the School. In addition, scholarships, music
and other awards totalling £291,000 were given
to a further 67 pupils. Overall, 172 pupils received
10 The Wykeham Journal 2015