The financial summary represents the performance
of what was the Epilepsy Research Foundation
during 2006/07 prior to its merger
with the Fund for Epilepsy. It shows incoming
resources totalling £642,065, a 6% decrease
on the previous year. However, with the transfer
of the Fund for Epilepsy's assets as a result
of the merger, money coming into the charity
totalled £945,996.
Although income from legacies was down 46%
on last year, all other aspects of fundraising
performed very well and offset a large proportion
of this dip in legacy income. Applications
to charitable trusts were particularly successful
with income almost doubling on last year.
Charitable expenditure was down on last
year because we did not hold a scientific
workshop during the year and our surplus
of
£34,839 was not sufficient to fund
another research grant. However we were
able to allocate a total of £370,432
to new
research
projects this year. Due to the transfer
in funds from the Fund for Epilepsy that
occurred on the last day of the financial
year, our reserves have increased significantly.
It is intended that once the full costs
of the merger have been quantified that
another research project can be funded from
these reserves. Governance costs increased
during the year as a result of administering
the merger process.
Fundraising expenditure increased by 15%
on last year primarily due to increased
expenditure on fundraising
events which was repaid by an increase
of 55% in income from that area.
Despite increases in fundraising and governance
costs we were still able to dedicate 82
pence in every pound to our charitable activity.
