Meeting for Sufferings: Yearly Meeting financial report
On 6 April Britain Yearly Meeting's treasurer reported to Meeting for Sufferings
Linda Batten, treasurer of Britain Yearly Meeting (BYM), presented the accounts from the financial report for the year ending 31 December 2018 at Meeting for Sufferings on 6 April.
She told Friends that the headline figures were down slightly on previous years, with the overall income at £12m and an expenditure of £12.75m. She said both were ‘a little less than the previous year’ but £77m had been carried into 2019, including nearly £5m gifted from Quakers. However, ‘we continue to be supported more from dead Quakers than living ones’ she said, and it was ‘a lean year for donations’ which were three-quarters of a million down from the previous year.
The Hospitality Company contributed ‘a record breaking £1.3m’.
She told Friends that ‘one of the things that trustees have recently done is set a new investment policy and spread investments more globally’. She said they are less of a risk and less likely to ‘drop dramatically if based in the UK’.
The treasurer emphasised that two-thirds of the £77m reserves were based in buildings, so was not readily available money, unlike a third, which was held in investments and more readily available.
BYM trustees are ‘not complacent about funding’, she said, and have firm income streams. She said BYM cannot rely on its legacy income, but despite investment losses of £2.3m late last year, which it has subsequently recovered a little from, BYM remains well-resourced and in good shape.
She added that ‘the new strategic priorities will help inform our work and how we communicate’. The annual review will be directly mailed to Meetings.
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