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Financials and how York Mind uses donations

Extract from our 2010-11 Annual Report

Principal Funding Sources

We continue to receive funding for our core activities from the City of York Council and the North Yorkshire and York Primary Care Trust. We have a service level agreement with the Council and contracts with the PCT. We are grateful for continuing support from both organisations. However, our aim in the last few years has been to diversify our funding streams to ensure greater financial security for the organisation.

As noted earlier, we have made a number of successful funding bids this year. We received first years funding for our 2 year ‘Work-focussed mentoring' project funded by the Lloyds TSB Foundation and the first years funding from Comic Relief to support the development of a new Young People Project for the next three years. We have also been lead partner in delivering the ‘Adult Engagement' project funded by the Skills Funding Agency along with European Social Fund. In addition, we have received several smaller grants and voluntary donations from trusts, organisations and individuals. We are grateful for the continuing support of all those who have contributed to the ongoing work of the charity. Further details of our sources of income can be found in notes 2, 3 and 4 of the financial statements.

Annual Results

Our results for the year show an overall net surplus of £42,858, which is made up of a surplus of £50,745 on Unrestricted Funds and a deficit of £7,887 on Restricted Funds. Set in the context of the difficult economic and funding climate, this is a significant achievement. This surplus was achieved through additional income secured via a number of contracts and reduced spending across a range of budget headings.

Total incoming resources are £345,485, an increase of £73,949 from the previous year. The total resources expended for the year are £302,628, an increase of £35,780 from the previous year. Of this, £45,120 relates to grant funding to partner organisations involved with the Adult Engagement contract. There has also been an increase in staff costs as a result of the new projects coming on stream. With careful cost control our office and premises costs have remained broadly in line with the previous year. Further analysis of our costs can be found in note 5 of the Financial Statements.

Donations to York Mind are spent directly on supporting our beneficiaries. Whilst we have ongoing support from our core funders, we need to carry out substantial fundraising each year to maintain our service and cope with the increasing demand.