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2024-01-31-accounts

East Anglia Art Fund Annual Report

For the year ended 31 January 2024

Charity no. 1014349

East Anglia Art Fund

Annual Report For the year ended 31 January 2024

Contents Page
Trustees and Advisors 1
Acknowledgements 2
Chairman's Report 3
Trustees' Report 4-6
Independent Examiner's report 7
Statement of financial activities 8
Statement of financial position 9
Notes to the financial statements 10-14

East Anglia Art Fund

Trustees and Advisors For the year ended 31 January 2024

Trustees Mr James Colman
Mrs Charlotte Crawley
Sir Richard Jewson (Chairman)
Ms Nichola Johnson
Sir Nicholas Lyons
Mr Merlin Waterson
Fund Director Mrs Amanda Geitner
East Anglia Art Fund
Shirehall
Market Avenue
Norwich
NR1 3JQ
Executive Committee Mr Martin Battye
Mr Robert Collin (Treasurer)
Mr Ian Collins
Ms Croose-Myhill (appointed October 2023)
Mrs Amanda Geitner
Ms Kate Heyman (appointed October 2023)
Sir Richard Jewson
Ms Nichola Johnson (chair)
Prof John Last (dec'd August 2023)
Mrs Linda McFarlane
Professor Simon Ofield-Kerr (appointed October 2023)
Independent examiner Giles Kerkham FCA DChA
Larking Gowen LLP
Prospect House
Rouen Road
Norwich
NR1 1RE
Solicitors Mills & Reeve
1 St James Court
Whitefriars
Norwich
NR3 1RU
Bankers Barclays Bank PLC
Leicester
LE87 2BB
Investment Brokers Barratt & Cooke
5 Opie Street
Norwich
NR1 3DW

Page 1

East Anglia Art Fund

Acknowledgements For the year ended 31 January 2024

The Fund would like to thank the following for their generous support:

Charitable Trusts

The Norwich Town Close Estate Charity The Timothy Colman Charitable Trust

Patrons

Mr & Mrs George Anson Sir Nicholas & Lady Bacon Mr & Mrs Martin Battye Mr & Mrs Simon Bax Mr Mark Cator The Marquess & Marchioness of Cholmondeley

Mr James Colman Sir Richard & Lady Jewson The Earl & Countess of Leicester Mr Jonathan Lloyd & Mrs Bee Wood Sir Nicholas & Lady Lyons Mr & Mrs Ian McIntyre

Mr & Mrs Ardeshir Naghshineh Prof. & Mrs Keith Roberts Dr Paul Zuckerman & Mrs Sarah Greenhall

Fellows

Mr & Mrs Charles Barratt Miss Elizabeth Brocklebank Mr Peter Cadbury Ms Debbie Carslaw & Ms Nessie Stonebridge

Mrs Gill Findlater Mrs Anthea Franklin Mr David McCall Mrs Mary Mellor Prince Jonathan Doria Pamphilj

Mr & Mrs Gerard Stamp Mr & Dr Merlin Waterson

Business Sponsors

The Norwich Town Close Estate Charity continues to help us support ST*ART , a primary school-age art course, as well as A' Level art Masterclasses.

Our thanks are also due to Tate, Norfolk Museums, our volunteers, donors and exhibiting artists; also to the Trustees of the Dubery Brogden Estate and Norwich University of the Arts for making possible the awarding of our scholarships to students studying Fine Art, Illustration & Fashion.

Page 2

East Anglia Art Fund

Chairman's Report For the year ended 31 January 2024

Having returned to activity at full pace, this year EAAF delivered an unprecedented 13 events to members and supported 14 exhibitions in Norfolk and Suffolk. The Norwich Castle Keep remains closed for refurbishment funded by the Heritage Lottery Fund, but the Castle Museum & Art Gallery remained open with a lively and diverse programme of temporary exhibitions supported by EAAF. We continued to work closely with our NMS colleagues. Membership remained stable and we communicated with our members consistently, continuing to profile our many artist members with the project EAAF Presents.

Exhibitions (supported with grants in 2023):

Members' Events (were well attended and generated a small profit):

An Elizabethan Study Day in Heydon , March, Heydon Norfolk.

ST*ART!

The Norwich Castle Saturday Art Club (ST*ART!), funded by the Norwich Town Close Estate Charity, returned to working in-person and in the galleries in 2023.

Legacies and bequests:

With the gift of £500,000 from the Estate of Fred Dubery and Joanne Brogden given in January 2016, EAAF continued to support Dubery Brogden scholarships at Norwich University of the Arts (NUA). The year marked the completion of the 8th year of scholarships to students in Fine Art and Illustration and Fashion and Textiles, from 1st year to MA. The John Alston prize for Fine Art (£500) was awarded to graduate Tessa Trigg. The working relationship with NUA continues to grow and has been most rewarding.

Governance:

The Executive Committee and Trustees met in March and October 2023. Kate Heyman, Nell Croose-Myhill and Professor Simon Ofield-Kerr were welcomed as new members of the Executive Committee

Nichola Johnson Chair of EAAF Executive Committee 11 October 2024

page 3

East Anglia Art Fund

Trustees' Report For the year ended 31 January 2024

The Trustees present their report and the financial statements for the year ended 31 January 2024.

Structure, governance and management

Governing document

The Fund is governed by a Trust Deed dated 7 November 1991 as varied by Deed of Amendment dated 26 October 1998 and 6 June 2005. East Anglia Art Fund is registered as a charity number 1014349. East Anglia Art Fund was known as East Anglia Art Foundation prior to June 2005.

The aims and objects of the Fund

East Anglia Art Fund was established with the following aims and objectives:

Trustees

All of the Trustees listed on page 1 have served in office during the year ended 31 January 2024. Trustees are appointed by resolution at a Trustees' meeting.

Trustee induction and training

New Trustees are briefed on their legal obligations under charity law, the content of the Trust Deed and recent financial information of the Fund. Trustees are encouraged to attend appropriate training events where these will facilitate the undertaking of their role.

Organisation

The Fund is served by a Board of Trustees who meet at least once a year. The main operational decisions are made by an Executive Committee which meets at least half yearly and reports to the main Board of Trustees. The day to day running of the Fund is undertaken by the Fund's director and an administrator, both of whom are employed on a part time basis. The Trustees and the Executive Committee also rely on the services of a treasurer who maintains the books and accounting records of the Fund and provides financial information to the Trustees.

Risk management

The Trustees have examined the major strategic, business and operational risks which the Fund faces and have produced a document which sets out the systems and procedures to manage major risks. The strategy also includes procedures to minimise the impact on the Fund should those risks materialise. The document is reviewed annually.

Public benefit

The Trustees confirm that, in exercising their powers and duties, they have complied with their duty to have due regard to the guidance on public benefit published by the Charity Commission. All art exhibitions are open to the general public.

Page 4

East Anglia Art Fund

Trustees' Report (continued) For the year ended 31 January 2024

Achievements and performance

Review of activities and performance

The exhibitions and related events supported by the Fund during the year are given in the Chairman's Report on page 3.

Plans for future periods

EAAF remains committed to:

providing financial assistance to the Norwich Castle Museum & Art Gallery to improve their art exhibitions programme and;

develop an ongoing role at the Castle and in the wider visual arts scene.

Financial review

Principal funding sources

The main source of income comes from donations, subscriptions and the Board of Patrons. Both the level of donations and the year end financial position remain satisfactory. During the year the Fund received income from all sources (excluding investment losses) amounting to £100,264 made up as follows:

Patrons of East Anglia Art Fund
Membership subscriptions
Marketing and events
Education projects
Donations and other income
Investment income and gift aid
Total income		 Restricted
£
-
-
-
-
-
18,413
18,413		 Unrestricted
£
16,382
18,154
16,082
-
12,662
18,571
81,851		 Total
2024
£
16,382
18,154
16,082
-
12,662
36,984
100,264		 Restricted
£
-
-
-
11,050
-
19,690
30,740		 Total
Unrestricted
2023
£
£
19,782
19,782
16,552
16,552
6,921
6,921
-
11,050
10,000
10,000
19,731
39,421
72,986
103,726

During the year the net expenditure (excluding losses on investments) amounted to £2,391. The deficit including losses on investments has been allocated to the appropriate funds.

Level of income reserve

The Fund has no significant ongoing financial obligations or commitments. Accordingly, the Trustees ensure that sufficient funds are retained to generate levels of income, which together with regular fund raising activities are at least sufficient to cover the ongoing management and administrative expenses of the Fund and provide funds for charitable expenditure. There are no specifically designated reserve funds. Excluding listed securities and the art collection, unrestricted reserves amounted to £44,377.

Accounts preparation

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland.

page 5

East Anglia Art Fund

Trustees' Report (continued) For the year ended 31 January 2024

Financial review (continued)

Investment policy

The Trustees may apply trust funds at their discretion in any of the investments permitted by law for the investment of trust funds.

The Fund maintains a portfolio of listed investments. These are invested under the guidance of professional advisors in order to mitigate capital risk by spreading across sectors in established companies and to maintain income returns. Surplus cash funds are generally held in term deposits to match the needs of the Fund for liquid funds. The Trustees review the level of equity investments from time to time in the light of the investment needs of the Fund.

It is the Trustees objective to secure investment income towards part of the running costs of the Fund whilst achieving sufficient capital growth to enable the investments to grow to provide for increasing operational costs in the future.

Trustees' responsibilities in relation to the financial statements

The Trustees are responsible for preparing the Annual Report and financial statements in accordance with applicable law, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), The Charities Act 2011 and Generally Accepted Accounting Practice.

Law applicable to charities in England & Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust and of the incoming resources and application of resources of the Trust for that period. In preparing these financial statements, the Trustees are required to:

Select suitable accounting policies and then apply them consistently;

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Trust and enable them to ensure that the financial statements comply with the Trust's governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) effective 1 January 2019. The Trustees are responsible for safeguarding the assets of the Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Independent examiner

A resolution to reappoint Giles Kerkham FCA DChA as independent examiner will be proposed at the Annual General Meeting.

Approved by the Board of Trustees on 11 October 2024 and signed on its behalf by:

Richard Jewson (Trustee) Richard J wson (Trustee)

Page 6

Independent Examiner's report to the Trustees of East Anglia Art Fund

I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 January 2024 which are set out on pages 8 to 14.

This report is made solely to the charity's Trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibity to anyone other than the charity and the charity's Trustees as a body for my work or for this report.

Responsibilities and basis of report

As the charity's Trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 ('the Act').

I report in respect of my examination of the charity's accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent Examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matter in connection with the examination to which attention should be drawn in this respect in order to enable a proper understanding of the accounts to be reached.

Giles Kerkham FCA DChA Giles Kerkham FCA DChA Larking Gowen LLP Larking Gowen LLP Chartered Accountants Chartered Accountants Norwich Norwich

Page 7

East Anglia Art Fund

Statement of financial activities (incorporating income and expenditure account) For the year ended 31 January 2024

Unrestricted
Notes
funds
£
Income
Membership subscriptions
18,154
Donations
12,662
Patrons
16,382
Education projects
-
Marketing and events
16,082
Investment income
11,848
Gift aid
6,723
Total income
81,851
Expenditure
Expenditure on charitable activities
3
81,570
Net (expenditure)/income
281
Investment losses
5
(4,018)
Net movement in funds
(3,737)
Fund balances at 1 February 2023
349,655
Fund balances at 31 January 2024
10 & 11
345,918		 Unrestricted
funds
£
18,154
12,662
16,382
-
16,082
11,848
6,723		 Restricted
funds
£
-
-
-
-
-
18,413
-		 Endowment
funds
£
-
-
-
-
-
-
-		 Total
2024
£
18,154
12,662
16,382
-
16,082
30,261
6,723		 Total
2023
£
16,552
10,000
19,782
11,050
6,921
30,682
8,739
103,726
95,233
8,493
(34,462)
(25,969)
1,405,398
1,379,429		 Unrestricted
funds
£
16,552
10,000
19,782
-
6,921
10,992
8,739
72,986
71,013
1,973
(7,940)
(5,967)
318,023
312,056		 Restricted
Endowment
funds
funds
£
£
-
-
-
-
-
-
11,050
-
-
-
19,690
-
-
-
30,740
-
24,220
-
6,520
-
-
(26,522)
6,520
(26,522)
12,683
993,701
19,203
967,179
81,851 18,413 - 100,264
81,570 21,085 - 102,655
281
(4,018)		 (2,672)
-		 -
(805)		 (2,391)
(4,823)
(3,737)
349,655		 (2,672)
13,542		 (805)
1,016,232		 (7,214)
1,379,429
10,870 1,015,427 1,372,215

Page 8

East Anglia Art Fund

Statement of financial position As at 31 January 2024

2024 2023
Notes £ £
Fixed assets
Lady Adeane Collection 5 395,500 395,500
Other pieces of art 5 10,000 10,000
Listed securities 5 907,581 896,162
1,313,081 1,301,662
Current assets
Debtors 6 4,300 5,751
Cash at bank
Current account 4,839 8,296
Deposit account 19,562 13,683
COIF 40,931 39,141
Cash held at stockbrokers 2,520 19,570
72,152 86,441
Less:
Creditors: amounts falling due within one year 7 (13,018) (8,674)
Net current assets 59,134 77,767
Net assets 1,372,215 1,379,429
Funds
Unrestricted fund 10 & 11 345,918 349,655
Restricted funds 10 & 11 10,870 13,542
Endowment fund 10 & 11 1,015,427 1,016,232
1,372,215 1,379,429

Approved by the Board of Trustees on 11 October 2024

ee Richard Jewson mi reed o ~~o~~ Trustee Trustee

Page 9

East Anglia Art Fund

Notes to the financial statements For the year ended 31 January 2024

1 Accounting policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102)Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The financial statements are prepared in accordance with the historical cost convention, with the exception of listed securities, which are stated at market value.

East Anglia Art Fund constitutes a public benefit entity as defined by FRS 102.

1.2 Expenditure

Expenditure is included on an accruals basis. Direct charitable expenditure comprise costs incurred directly in support of the objects of the Fund including the costs of administration and management.

1.3 Bequests and gifts

Bequests and gifts are included in the financial statements when they are probable. Amounts committed under specific appeals are recorded when receivable. Gifts and donations of listed securities are included at market value at date of transfer.

1.4 Investment income

Dividends and interest are included in the financial statements when received.

1.5 Fixed assets

Art work is included at the amount at which it was valued on the date it was gifted to the Fund. Any subsequent valuation made by a professional valuer is noted in the accounts. No depreciation is charged on works of art. The cost of minor additions or those costing below £5,000 are not capitalised. Listed investments are stated in the financial statements at market value.

1.6 Funds

Unrestricted funds are donations and other income receivable or generated for the objects of the charity without further specified purpose and are available as general funds.

Restricted funds are to be used for specific purposes as laid down by the donor or as set out by the terms of an appeal. Expenditure which meets the fund criteria is charged to the fund, together with a fair allocation of management and support costs, if appropriate.

The endowment fund represents those assets which are held for the benefit of the Trust.

1.7 Pensions

The charity operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the charity pays fixed contributions into a separate entity. Once the contributions have been paid, the charity has no further payment obligations. The contributions are recognised as an expense in the SOFA when they fall due. The assets of the plan are held separately from the charity in independently administered funds.

1.8 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.9 Financial Instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial insrruments are initially recognised at transaction value and subsequently measured at their settlement value.

1.10 Going concern

The Trustees have considered the charity's position at the time of signing the financial statements, and have concluded that they have a reasonable expectation that the charity will have adequate resources to continue in operational existence for the foreseeable future, being at least twelve months from the date of signing these financial statements. They therefore continue to adopt the going concern basis of accounting in preparing these financial statements.

Page 10

East Anglia Art Fund

Notes to the financial statements (continued) For the year ended 31 January 2024

2 Trustees' remuneration

The Trustees received no remuneration or benefits from the Fund, and were not reimbursed for any of their expenses in the year (2023: £nil). There are no related party transactions requiring disclosure.

3 Analysis of total expenditure

Analysis of total expenditure
Expenditure on charitable
activities
Leaflets and promotion
Student prize
Scholarships
Marketing and events
Staff salaries
Education projects
Investment costs
Donation - Art Exhibition support
Accountancy
Printing, stationery and postage
Internet and computer
Bank and card charges
Meetings
Travel
Insurance
Independent examiner's fees		 Unrestricted
fund
£
2,404
500
-
9,867
40,593
-
408
15,500
1,625
829
6,835
579
80
45
523
1,782		 Restricted
fund
£
-
-
17,500
-
-
557
492
2,500
-
-
-
-
36
-
-
-		 2024
Total
£
2,404
500
17,500
9,867
40,593
557
900
18,000
1,625
829
6,835
579
116
45
523
1,782		 2023
Total
£
355
500
17,500
4,718
38,898
3,240
888
20,336
1,685
1,091
3,037
268
302
222
523
1,670
95,233		 Unrestricted
Restricted
fund
fund
£
£
355
-
500
-
-
17,500
4,718
-
38,898
-
-
3,240
408
480
17,336
3,000
1,685
-
1,091
-
3,037
-
268
-
302
-
222
-
523
-
1,670
-
71,013
24,220
81,570 21,085 102,655

The Trust's office and associated services are provided at no charge by the Norfolk Museums and Archaeology Service.

4
Staff costs and numbers
Wages and salaries
Employer pension cost		 Unrestricted
fund
£
39,783
810		 Restricted
fund
£
-
-		 2024
Total
£
39,783
810		 2023
Total
£
38,150
748
38,898		 Unrestricted
Restricted
fund
fund
£
£
38,150
-
748
-
38,898
-
40,593 - 40,593

The average weekly number of employees during the year was 2 (2023: 2)

Page 11

East Anglia Art Fund

Notes to the financial statements (continued) For the year ended 31 January 2024

5 Fixed assets

The Lady Adeane Collection comprises a prestigious art collection bequest to the Fund in 1996 at a valuation of £395,500. The collection was appraised for insurance purposes at open market value in February 2023 by Art & Antiques Appraisals Limited, a firm of Independent Agents, Consultants and Valuers at a market valuation of £1,361,500. The market valuations are based on the middle of the likely auction estimate range. Under the terms of the Deed of Gift the Lady Adeane collection cannot be sold.

Similarly other pieces of art which do not form part of the Adeane Collection have been valued at £13,500.

From time to time the Adeane collection and other pieces of art are on display at the Norwich Castle Museum & Art Gallery. Members of the public can arrange to view the collection on application to EAAF.

Listed securities:
At market value 1 February 2023
Revaluation of investments
Loss on sale
Sale proceeds
Purchases
At market value 31 January 2024
Allocated:
General investments
Brogden bequest		 15,020
(19,843)
Cost
£
265,262
507,518
772,780		 £
896,162
(4,823)
(149,843)
166,085
907,581
Market
value
£
301,541
606,040
907,581

All investments held are listed UK securities and no individual investment held exceeds 5% of the portfolio value.

6
Debtors
Gift aid
7
Creditors: amounts falling due within one year
Grants and donations
Other creditors
8
Financial instruments
Financial assets measured at fair value through income and expenditure		 2024
£
4,300
2024
£
10,000
3,018
13,018
2024
£
907,581		 2023
£
5,751
2023
£
2,536
6,138
8,674
2023
£
896,162

Financial assets measured at fair value through income and expenditure are comprised of listed investments.

9 Pension commitments

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £810 (2023: £748).

Page 12

East Anglia Art Fund

Notes to the financial statements (continued) For the year ended 31 January 2024

10 Analysis of net assets

Fixed assets:
Works of art
Listed securities
Debtors
Cash at bank and in hand
Creditors
Net current assets
Total assets
Fixed assets:
Works of art
Listed securities
Debtors
Cash at bank and in hand
Creditors
Net current assets
Total assets		 Restricted
fund
£
-
-
-
-
10,870
-
10,870
10,870
Restricted
fund
£
-
-
-
-
14,542
(1,000)
13,542
13,542		 Unrestricted
fund
£
-
301,541		 Endowment
fund
£
405,500
606,040		 Total
2024
£
405,500
907,581
301,541 1,011,540 1,313,081
4,300
53,095
(13,018)		 -
3,887
-		 4,300
67,852
(13,018)
44,377 3,887 59,134
345,918 1,015,427 1,372,215
Unrestricted
fund
£
-
299,246		 Endowment
fund
£
405,500
596,916		 Total
2023
£
405,500
896,162
299,246 1,002,416 1,301,662
5,751
52,332
(7,674)		 -
13,816
-		 5,751
80,690
(8,674)
50,409 13,816 77,767
349,655 1,016,232 1,379,429

11 Movements in funds

Movements in funds
Restricted funds:
Education projects
Dubery Brogden picture fund
Scholarship and grant fund
Unrestricted funds:
General funds
Endowment fund
Works of art
Dubery Brogden bequest
Total funds		 At 1 Feb
2023
£
11,365
1,330
847		 Income
£
-
-
18,413
18,413
81,851
-
-
-
100,264		 Expenditure
£
(557)
(528)
(20,000)		 Revaluation/
losses etc
£
-
(802)
802		 At 31 Jan
2024
£
10,808
-
62
13,542 (21,085) - 10,870
349,655 (81,570) (4,018) 345,918
405,500
610,732		 -
-		 -
(805)		 405,500
609,927
1,016,232 - (805) 1,015,427
1,379,429 (102,655) (4,823) 1,372,215

Page 13

East Anglia Art Fund

Notes to the financial statements (continued) For the year ended 31 January 2024

11 Movements in funds (continued)

Restricted funds:
Education projects
Dubery Brogden picture fund
Scholarship and grant fund
Unrestricted funds:
General funds
Endowment fund
Works of art
Dubery Brogden bequest
Total funds		 At 1 Feb
2022
£
3,555
1,810
1,657
7,022
355,622
405,500
637,254
1,042,754
1,405,398		 Income
£
11,050
-
19,690
30,740
72,986
-
-
-
103,726		 Expenditure
£
(3,240)
(480)
(20,500)
(24,220)
(71,013)
-
-
-
(95,233)		 Investment
At 31 Jan
Losses
2023
£
£
-
11,365
-
1,330
-
847
-
13,542
(7,940)
349,655
-
405,500
(26,522)
610,732
(26,522)
1,016,232
(34,462)
1,379,429

Education projects

This fund is for specific sponsor's donations of master classes and programmes arranged by EAAF.

Dubery Brogden picture fund

The balance of £802 remaining on this fund has been transferred to the scholarship and grant fund.

Scholarship and grant fund

The investments of stocks and shares bequeathed to EAAF under the Will of the late Prof Joanne Brogden Dubery is invested to fund scholarships to art students to part fund their college or university education and to provide grants to local artists in the Suffolk area.

Page 14