King's College Hospital Charity - Annual Report & Accounts 2019-20 - Flipbook - Page 15
Donations & other funding
Direct costs of
fundraising & investment
The Charity reported a net operating surplus before
investment losses of £0.4m as a result of income of
£3.6m exceeding expenditure of £3.2m. Income was
boosted by higher legacy income than in the previous
year. In contrast, in 2018/19 expenditure exceeded
income by £2.5m due primarily to a major capital grant
of £1.6m and some high value research grants funded
from income received in previous years.
Income in 2019/20 was £3.6m (2018/19: £2.8m), £0.8m
higher than in the previous year due primarily to an
increase in legacy income.
Continuing to grow fundraising income and the number
of our supporters are both vitally important to our future.
Our fundraising team has progressively expanded the
number and types of fundraising activities and in March
2019 launched a major appeal, the Transforming Liver
Care Appeal which realised £264k in donations in the
financial year with more promised to come in 2020/21.
Legacy income at £1m was £0.7m higher than the previous
year primarily as a result of two very generous legacies.
Further details are provided in Note 3.
Expenditure including grant commitments amounted
to £3.2m (2018/19: £5.3m), £2.1m lower. This was
primarily due to the timing of major capital grant
commitments which were lower by £1.3m; research
grants being lower by £0.7m but importantly grants
to support the hospitals staff were higher by £0.3m.
2018/19 was an exceptional year for grant commitments
due to the grant of £1.6m towards the new critical care
centre at King’s in Denmark Hill. At £1.6m, direct grant
expenditure was a similar level to the value in 2017/18.
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