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Date posted: 1 July 2016
A summary of the Treasurer’s report presented at our AGM on 1 July 2016 in London (Accounts to 31 December 2015).
Operation Noah has benefited greatly from the generous donations it has received for its Bright Now campaign, first from the Oak Foundation and more recently from the Sainsbury Family Trusts.
Bright Now apart, our general unrestricted funds showed a surplus for the year 2015 of £1,389. We started the year with assets of £17,026 and ended with £18,485. This very satisfactory outcome had two main causes.
First, in addition to our regular donations from our supporters, we had a number of very significant one-off donations. We are most grateful to all our donors, both our regular supporters and our one-off donors. Second, our expenditure was rather lower than previously, due to a gap in staffing (largely covered by voluntary activities) and a gap in our payments of rent as we moved offices.
Looking forward, however, our financial outlook is considerably less satisfactory. One-off donations are, by their very nature, one-off and cannot be relied on and, as it happens, we have received very little this year. Our regular donations by themselves are insufficient to keep us going.
A number of years ago we launched a campaign to build up 100 “ten pounders”, people giving us £10 a month (or equivalent), which would provide sufficient unrestricted funds to cover our modest running costs. Although the numbers have slowly built up, we are only about half way there.
Our expenditure has gone back up as we settle into our new office and a new pattern of work. Valuable as volunteer help is, we cannot rely on it for too long.
So, unless we can increase our voluntary income very significantly in the second half of the year, we face a substantial deficit this year. At worst, we have only a short life ahead of us.
It is very important therefore that we see a major increase in our income. We should be most grateful for any help which you can provide, whether on a regular basis or a one-off. Any donation, big or small, will be very welcome indeed.