We're a charity and we rely on donations. We're very grateful to everyone who supports us financially. We want you to feel confident that we're spending our money wisely. That's why we're committed to being open about how we're funded and managed.
In 2018/19 our income, including the net profit contribution from our network of shops, was £42.5m. This was £7.6m more than last year thanks to the incredible generosity of the public, companies, other funders, and sales in our charity shops.
We have a broad range of income streams so we're not reliant on one source of funding. This is very important to us as it means we can remain entirely independent. It also means we are less vulnerable to changes in one area of income. We don't take money from pharmaceutical companies.
The figures below combine our charitable accounts as well as those of our separate trading company for retail activities.
This year our total shop turnover was £17.2m. We used £13.4m of this to pay for the cost of sales and operational costs including rent, bills and salaries. We used the rest, £3.8m of profit, plus other retail income, as unrestricted income to support our work.
We spent £41.2m this year.
For every £1 we received in donations, we spent 84p on our charitable work.
We spent £35.6m in total delivering our charitable work, which is a 39% increase on last year.
Our spend for this year is broken down into the goals from our 2016-2021 strategy. You can find out more about our goals by reading 'Building on Change'.
Our governance costs make sure that we are a well-run and accountable organisation. These cover internal and external audit costs, information governance (e.g. data protection), quality assurance (services quality and safeguarding) as well as the cost of planning and reporting.
The difference between our income and expenditure reflects money added to our reserves (this make sure we have funds available to grow and develop, and can continue to operate should our income fall).
For more information on our work, and how we raise and spend our money, read our 2018/19 annual review and accounts [PDF will open in new window].
We aim to always be open and clear about how we raise and spend our money. Please email us at [email protected] if you have any questions or concerns and we will answer them.