The Institute of International Monetary Research
CHARITABLE INCORPORATED ORGANISATION (C.I.O)
UNAUDITED FINANCIAL STATEMENTS
For the year end 31 December 2023
Registered aharily.. qq55226
Company registration number., CE000630

The Institute of International Monetary Research
REFERENCE AND ADMINISTRATION
CHAIRMAN OF TRUSTEE8
Professor TIM GDngdon GBE
TRUSTEES
Mrs Venetia Congdon-Johanne5
Mr Brandon DavSes
Professor Terence Kealey
Professor Martin Rloketts
SECRETARY OF TRUSTEES
Mr8 Venella Congdon-Joh8nnes
PRINCIPAL OFFICE
The Unlveislly of Buckingham
Yeomanry House
Hunter Street
Bucklngham
MK18 1EG
CHARITY REGISTRATION NUMBER
1155226
COMPANY REGISTION NUMBER
.CE000630
INDEPENDENT EXAMINÈR
Kameltya Harilson BA (Hons) FCA ATT, on behalf of
T8arle & Carvar Llmlted
Ch4ndos Housg
Sohotrl Lpne
Bucklngham
Bucklnghamshlre
MK18 1HD
BANKERS
Santsnder UK PIC
2 Trllon Square
Regent's Place
London
NW13AN

The Institute of International Monetary Research
TRUSTEES, REPORT
The Trustees present thelr annual report and financial statements for the year ended 31
December 2023. Th8 financial Slalemenls have been prepared in accordance with the accounting
policies set out on page 7 and comply with the charity's governing document. the Charities Act
2011 and Accounting and Reporting by Charities: Slalemenl of Recommended Practice
applicable lo charities preparing their a¢counls in accordance with the Financial Reporting
Standard applicable in the UK and Republicof Ireland IFRS 1021 eff8Ctive 1 January 2019.
Structure and Governance
Inslilule of International Monetary Research is a registered charity {Charity number 11552261
governed by its constilutlon, dated 07 January 2014.
Objectlves
The objective of the inslilule is lo advance the education of the public In general on the workings
of modern economies, particularly bul not ex¢lu8ively lo increase understandings of the linkages
between banks (which issue money) and the rest of the economy. The institute organise research
(both wrillen and online) and supports the educational work of The University of Buckingham.
Electlon of Twsteg$
Apart from the first charity Iruslees, every trustee must be appointed by a resdution passed al a
properly convened me8ling of the charity Iruslees. In selecting individuals for appointment as
charity Iruslees, the charity Iruslees much have regard lo Ihe skills, knowledge and experience
needed for the effective administration of Ihe CIO. No changes in the trustees since the
appolntment of Brandon Davies in Augvst 2019 {lo replace Tim Sanderson).
Accounts
As income exceeded £250,000 in the year the 8ccounts have been prepared on the accruals
basis which is Consistent with the previous period.
The Iruslees have agreed lo relain Kameliya Harrison of Tearle & Catver Limited as Independent
Examiner.
Reviow of thè p&rlod and delivoring a public benefit
The Iruslees confinm that they have referred to the guidance contained in the Charity
Commission's general guidance on public benefit, when reviewing the fund's aims and objectives
and in determining the grant making policy for the period.
As in previous years, the Institute continues lo develop in accordance with the business plan
originallyoutlined lo the Charity Commission in late 2013. The Inslilule is now well-eslablished and
has carried out a range of activities in accordance with that business plan.
Flnanclal Review
During the year the charity generaled incomo of £243,57812022- £256,791) which includes
donations of £128,365.6712022: £130,089). All income received is unrestricted. The lolal costs
of the charity were £238,710 {2022.' £216,544) resulting in an overall surplus of £4,86912022=
£40,247).

The Institute of International Monetary Research
TRUSTEES, REPORT
CONTINUED
The In8tllute'.¥ new Dlreolor, Damlan Pudngr, jolned the Intslllulg on Fèbruary 271h 2023. and for
some months worked alongslde Ihe prevlDUS Director. Dr Juan CaslaAeda, who remalned al
the Inslltule on 8 Part-tlme basis until June 2023. Mr. Pudner spent much of 2023 lrylng to
develop Bxecullve educallon It) maoroeconomics and monetary economiGs as an aspèol of the
Inslllul&'s oulpul. Ho also parlldpaled In teachln[ on the MSC ¢ourses al Ihg Unlverslty of
BuGklngharn. taklng a clos8 Interest In th6 proposed new Msc on 'Money, Banking and Wealth
Management,.
Dr Castaneda Continued lo work wllh the Inslitule, In hls new rol8 al the Vlnson Cenlre, where
the Instllute eonlinues lo operate. Both Dr Caslahoda and Mr Pudner were ￿ncerned lo
mainlaln close relallons with the Institute of E¢onornlc Affalrs In London.
The Msc course In 'Mon6y, banking and central banklng, al the Unitrorslty of Buckingh¥m
Introduced In Seplember2017-Is now Into Ils seventh year, In Ils first yearthe MS¢ programme
was attetlded by 12 81udents and In ils second there were 10, Includlng two part-tlm&
$ludenls. After 4 decline in Ihe numbers oh the programme to only 8ix In 2019120, 2020 had 12
students on the Msc piogramme and four on tha PG Certlfical& (online) prtrgiamme. 2021 ¥aw
14 studen18 on the MSC programme and 8 students an the Pts Certiri¢ato programme. 2022
saw 7 Msc students and 8 PG Certiflcale 8tudenl6. 2023 had an Intake of 8 on Mso Money
Banklng and 2 students on Money and Wealth Management. Our PG Certlflcate In Money and
B4nklng had an Int&k8 of 6 students.
The Unlverslly of P(J¢klngham student satisfaction survey was voted In 2023 al the number
InslSlullon for freedom of expresslon and in the top 10 for its m8nlal wellbelng sglVICa8.
The IIMR onllne programme MoneyondBanking. Anlnlroduotlon to mongtorfsm Is 81111 attraollng
reglstratlons wllh 2023 wllh 10 studgnl reglstrations116 In 2022).
In 2023, we al$0 oollaboraled Wllh the In8lltut8 of Econonllc Atralrs In the Camp Vinson
Programm8 held al the Oxford Unlver8lty. This ihlllallve wlll be ongolng and Is Snd8ed scheduled
for June 2024.
The Inslilulo's foous has conllnued lo be Ils'assessmenl of the economlc effects of money
growth trends In the leading economles. Whereas In 2022 the InslSlule secured a Temarksble
Irlumph as a sharp Ilse In Inflation demonslraled the valldlly of Ils 2020 forecasts, In 2028
Inflallon started lo moderate Sn response to the central bank poll¢y Ighlenlng whloh began In
early 2022. As In other recent years, the InslSlule's res¢arch waswidely qLKJled in the 8pe¢lalized
medla, and r¢ceived favour4ble coverage and mentions In Th'8 Telegraph, the Flnancial Tlm8S,
Ihe Economlsl and rh8 Speolator, as well as In other new8pap8rs and onlln6 medla, Adding lo
our Confer8nce Paper8er168. preparalionswere made for publishlng a papèr by SirPaul Tucker
who gave ourAnnual PUTr￿1¢ Lècture In October 2022 on 'Monelary system stablllly and global
dlscord,.
The London.based Polllgia Ihlnk lank published a pamphlét by tha Inslllule's Chalr, Proles801
TIM Congdon, In April 2023. It conconlraled on the causes of the Tise of Inflatlon In the UK and
In partloular the effeel of the acceloration In Tnoney oiowth engineered by the Bank of Englond
In 2020. rhe Hou88 of Lords, Economlc Alfalrs Commlllee Invlled Professor Congdon lo olve
evldence on these Issues In May 2023.
The manag8nlent of Ihe Inslllulg's web8118 Iww.mv-pt.orgl, siarted In 2015 wllh help from,
out8lde webslle deslgners, remalned enllrely In-house. The monthly e-mall on global money
tronds18 the Inslllule's most Sniporlanl pioducl, wllh thousands of reGlpionls around the world,
although wllh most Inlore51 belng In the UK,

The Institute of International Monetary Research
TRUSTEES, REPORT
CONTINUED)
The Inslltute prepares a monthly updat8 tsn global monatary trends, as well as a monlhly
Newsletter, which are now dlstrlbuled to almost 2,500 e-m911 addresses from the UK and
abroad, wllh a conllnued open rate of around ¥5-45¥0 for the money nol8 and 25-35% for the
now818rter.
With inflallon retu.rnlng to more nom)al levals In 2023, Ihg ¢enlralily of ihe Inslltule's 2020
warnings on the Inflation risks Inherent In hloh money growth has been less noli¢ed. Bulthe fall
in infl2tlon has followed a fall in money growth, whlch tho Inslltule Identllied In sprlhg 2022. The
Inslllule's analyllcal framework has ther6forfj r)nce more shown11s relevanee and usofulneBs,
Professor Congdon conlributad artloles to Th9 Crlllc, while Mr Pudner wrote pleGes for CllyAM.
Moro genèralty, the In8tilute conllnued lo make an important contribullon lo the Inlernallonal
dabate on money growlh developments In 2022.
Tho soci&l mèdla a¢¢ounls DI the Inslilute conllnued to be used regularfy lo sproad the research
agenda of Ihe In811tute, 'and to send updates on forthcomlng events and th8 relea$& ol new
educallonal vldeos, Their aLKlienGa grew further In 2022.
The Inslllule's Annual Publlc Lecture in Octob¢r 2023 at the Royal Aulomoblle Club In London,
wlth Paul Tucker was attended by o¥ier 180 peopl&, r¢Gorded and Ilsled on our YouTubè
channel. A conference paper Is due to be produced and dlslrlbuted In Aprll 2024, Our Ahnual
Morielary Conference was heLd al the Universlly of Bucklngham in OGlober 2023 on 'What Is
the best monetary regime?, The conferen¢e was Ilve slr88m8d on Zoom allènded by 51 people
and also atlend6d by 20 people in house.
In addltton, the Inslllule contlnues lo host a webinat gerle5.on Mon0￿ and central banklng Since
the sprlng 2020, with t￿0 lo three speakers p&r term. We are iiery pleased to report a good
number of students from the UK and abroad allended the webinars. The vldeos wllh the
PTe$entalions of the speakers were made avallable to the publlc on our webslle and Dn ou
6oclal media accounts arid YouTube channel.
The Institute has now ralurned lo 'normal' proceedlngg wllh regards to118 evgnt8 and me8llng3
sin¢e Ihe Covld restrlclions havo been relaxed.
Re8erve5 Poll¢y
Total unreslrlclod fund8 at 31 Deoemb8r 2023 were £201,210 (2022.. £196,941). The charlly
had a cash balance at Santsnder Bank 4t 31 December 2023 of £204,943 (2021.. £202,534),
Our pollcy is to hold on short term deposit sufflcient funds lo cover total expendlture for ong
year and our objective Is to ullllse the In¢omè In coverlng DveFh&ad8. Any shortfalls whlch may
occurwlll b9 covèred by way of a donation from Prolassor TIM Congdon CBE.
Risk Management
The trusleeshave examined the majorslraleglc, buslne8s and operallonal rlsk8whlchlhe charlly
faces and conftrm Ihatthgy are happy there arg sy81ems In place to lessen Ihe8e risks.
Future Develop.m9nts
The tru81ees have consldered thè ImpaGI of the Covld-19 outbreak on thelr fuiure plans and al
this slag& Ih&re Is no changé lo the strategy for th8 oharlty. Slnce Maroh 2020 we have
ImpSernented numerous procedures to ensure that we can conllnue to work effectively, wl)Ilst
remote. The core of our resgarch Is still being publlshed and dlslribuled to our contacts and we
are conllnulng wllh our collaboration wlth lh8 Unlverslly of BuGklngham In relallon lo our Msc
programme and future programme8. A new Msc ¢oursg - on 'Monoy, banklng and weBllh
manaoemenl'_ has been Introduced and is now 88eklng student supptsrt, Brandon Davleg has
boen In8lrum8nlal In the design and conlenl of the 'naw means of payment. module of the
¢ourse whlch Introduces 8ludenls lo advances In the flntech Industry and central bank dlgllal
currencles, and Ihelr impact on monetary polioy and régulatory issues. The course wlll also
focus on how to us8 monot8ry analysls and Investment strategy In a modern economy and

The Institute of International Monetary Research
TRUSTEES, REPORT (CONTINUED
provld8s a nolabI9 and cornpllmenlary addlllon to the In8111ule's wort( And that of Ils e'xisting
programmes, N8w Inlllallves wlll b8 to s8ek orgnt support for monel8ry hlslory prolocis and lo
develop executive educallon.
OLsr research has been referenced Bcro$s Iheworld Ihrouyhoul and sincelhe pandemlc, and ha
ralsed our profile in the lop polloy-maklno Insllluttons, In unIver$l￿O8 and In the leadlng financial
cenlres.
Signed on behalf of the Iru51ees
ProfessorTlm Con9
on CBE
Chalmian of Yrust&es

INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE INSTITUTE OF INTERNATIONAL MONETARY RESEARCH
I reportto thè trustees on My &xamlnallon oflhe accounlg ofThe Insutute of Internatlonal Monelary
Res&arGh ('thg charily'l for Ihe year ended 31 December 2023, whloh ar8 sèl out on pages S to
12.
Ro8ponslbllltle¥ and ba$lg of report
As the truslees of the ¢harily, you are respon8lbl6 forlhe preparatlon Df the accounts In a¢cordance
with the requlr8menls of th8 Chari119s Aot 20111'the 2011 Aol'l.
I report In r8speoi of my exBminallon of the charily's accounts carrled out under socllon 145 of the
2011 Act and in carrylno out my examlnallon I have followed all the appllcable Directions given by
the Charity Commlssion und8r 86¢11on 145 (51(b) of the 2011 Aol.
An Indgpendent examlnAllon does not involve gatherlng all Ihe evldonea thatwould be requlred In
an audit and con$equenlly doos not cover a11 the mallers that an auditor considers givlng Ihelf
oplnlon on the accounts. Th8 plannlng gnd Conduct of an audll goe8 beyond the limlted assurance
that an independent ¢xamination can provlde. Consequently, l 8xpre8s no oiinlon as Its whethor
tho accovnls present a'lrue and falrvlew, and my roport Is Ilmlled lo thoÈ8 spg¢illc matter8 $81 Out
In the lfidependenl examinèr's slalemenl.
Indepèndont examlngr's statttmgnt
Slncè the charity's gross Income exceeded £250,000, your examiner musl be a member of a body
1161ed in section 145 of th9 2011 Act. I confirm that l am qualilled to undettake the examlnalion,
becausè l am a memb8r of the Inslilule of Chartered Accountants England and Wales, whlch Is
on¢ ol the Ilsled bodles.
I havo completed my. examlnalion. l ¢onfirm that no materlal matlers have ¢ome to my altenllon In
connecllon with the examinatlon glvlng me reasonable cause to belleve that In any material
respect-.
aceounllng recordswere not kept In regpect cif the charlty as requlred by se¢tloh 130
of the 2011 Act., or
Ihe accounts do not accord wllh those recorcls. or
the ac¢ounls do not comply wllh the appllcable requlremen15 Conoernlng the lorm
and conlenl of a¢cDunls sel oul In the Charities {Accounts and Reports) Regulations
2008 olh8T than any r8qulrement Ihat the aoaounls glv9 a'lrue and falr vl8W whloh
Is not a maller consldered as part of an Independenl examination.
I havg no concems and have come across no other matter$ In connection wllh the axaminallon to
whioh attention should be drawn In this report In order to en81)18 a proper undorslandlng of tha
accounts to be reached.
Kameltya Harrlson BA IHons) FCA ATT
The Inslltule ol Chartered Accounlanls In England and Wgles
ON BEHALF OF TEARLE & CARVER LIMITED
Chandos House, School Lane
Bucklnghan)
Buckingham8hSre
MK18 1HD
Dalo-.
PA(Je 14

Instltute of International Monetary
Research
statement of Flnanclal Actlvitie8
for the Year Ended 31 December 2023
2023
Unreslrfc18d
fund
2022
Total
funds
Note8
INCOME AND ENDOWMENTS FROM
Donalk)n8 8nd le9acles
128,366
130,091
Other trading act1v￿leS
116213
126702
Total
243.579
256,793
EXPENDITURE ON
Charltablè acllvilies
Char51Bbl& AcllvRle8
295,4SO
211,353
Governan¢8
Totsl
238.710
216547
NET INCQME
4.869
40.246
RECONCILIATION OF FUNDS
Total lunds brought foward
196,341
156,095
TOTAL FUNDS CARRIED FORWARD
201,210
196341
Pago IS

Institute of International Monetary
Research
Balance Shoet
31 Decembor 2023
2023
Unrèslricted
fund
2022
Total
fundB
Noles
FIXED ASSETS
Tenglble assets
839
CURRENT ASSETS
PFepaymenl8 and accrued Incomè
Cash 41 bank
1,053
1,174
.202 534
205,998
203,708
CREDITORS
Amounts lalllng due wllhln one year
{5.626)
{7,3671
NET CURRENT ASSETS
200 371
196341
TOTAL ASSETS LESS CURRENT
LIABILITIES
201,210
196,S41
201,210
196,341
NET ASSETS
FUNDS
Unreslrlcled funds
201210
196.341
196341
TOTAL FUNDS
201210
The financial $181emenls w8r8 approved by the Board of Tru81ees and aulhoris8d for 18$uo on
-.K.i..l.Dl../. ?Ok.¥.......... and were slgned on118 behalf by..
Trusteè
Pag? 16

Institute of Internatlonal Monetary
Research
Notes to the Flnanclal Statements
for the Year Endod 31 December 2023
ACCOUNTING POLICIE8
Basis of preparlng the flnanclal $lat8menl$
Tho flnan¢lal slalgmonls ol the charity, which k% a publlc b¢nelll enlSly under FRS 102, have beon prepared
In AG¢ordance wllh Ihg Ch8111Ses SORP IFRS 1021 'Accounllng and Reporting by Charilles., Slalemènl of
Recommended Praclice applloable lo charllles preparlng their accounts in acGord8nc8 wllh tho FlnancSal
Reportlng Standard applicable in the UK and Republle of Ireland IFRS 102118Ne¢llve 1 January 20191,,
Flnanc5al Reportiny Standard 102 The Flnangial Repodlng Standard applicab￿ In the UK and Republlc ol
Ire18nd' and U)& Charilies Acl2011. The linanoial slatamonls have been prep8r6rl under the hlglollcal cost
convenllon.
In¢ome
All incom818 r8cognlsed In the Slalemenl ol Finan¢lal Aclfvllles On￿ th¢ ¢harlly has entlllethanl lo th8
lu¥bd8, It Is probable that th8 in¢omg wlll be r8cglv¢d and the emounl can bè measur8d rell&bly,
Expanditure
LSabllill¢s are recogni$td as expendllure as soon a$ there18 a18gal or con8lrucllve obllgalion commilling
the charity to Ihal expendllurt, 51 Is probable that & Iransfar of economle benellls wlll bè requlred In
8elilemenl and the amount ol th8 oblSgalion can be measured r611ably. Expenditure18 accounted for on an
accruals ba818 and has been classified under hèading5 that aggregate all ¢081 relolgd lo th6 category.
Where co818 cannot bo dlre¢lly allrlb(tled lo partlcular headlngs they havo been allocated lo a¢llvlll8s on a
basls ¢on¥181enl wSlh thè u$& ol resour¢o$.
Tanglblo flxed assets
Depr8ciatSon 18 prOV￿ed 81 the follo￿ng annual ièle$ in ordai lo wrlle off ga¢h ass81 over lis esilmaled
U881ul lile.
Taxatlon
The charlly18 8X8mpt from lax on 11$ di8r11ab￿ acti￿lIes.
Fund #ccountlng
Unroslricled funds ¢an be used1n a¢¢oTdancewith the char51able oblecllv6s al the dls¢rellon ollho Iruslees.
Reslthled fundB can onty be uÈÉd for partl¢ular reslrl¢l8d purp0$08 wllhln th8 oblects of th8 charlly.
Reslrt¢lbns arlse whon speclllod by the donor orwhen funds ar& ra55ed for partS¢ular r8slrloled purpo689.
Further èxplanallon ol the natur$ and purpose of each fund Ss In¢luded In the noteB lo the flnan¢lal
Stolemenls.
Pa9017

Instltute of Intarnatlonal Monetary
Research
Notes to the Financlal Statements . continued
for the Year Endèd 31 Dacember 2023
OTHER TRADING ACTIVITIES
2023
2022
Msc CouTS6 Feos
Ohlino Tralnlng Programme
SeNl¢e Fees
Glft Ald
rant Aword
peaker F8e6
Other Income
47,074
834
20.000
28.216
2,493
40,000
27,543
1250
19,000
89
853
11S213
126 702
TRUSTEES, REMUNERATION AND BENEFITS
Th¢re were no INSte&$' r¢munerollon or other b?nèfils for the year ended 31 December 2023 nor for the
year ended 31 December 2022.
Tru8teas' wanso$
Thor¢ w8re no Iru$lees' expens08 pald for th&. yoar endad 31 D&￿Mb•r 2023 nor for Ihg yoar ended
3.1 D¢¢griiber 2022,
STAFF COSTS
Aggt¢gatè Rgmunèratlon
2023
2022
Wages
199,821
1T5,982
The avela9e monthly number of ernploy¢es duilng the year was 88 follow8..
2023
2022
Dlreol
Supporl
No employo8S tecglved emoluments In ox¢es8 of £60,000.
Pasje I

Instltute of International Monetary
Research
Notes to th& Flnancial Statements - continued
for tho Year Endod 31 December 2023
COMPARATIVES FOR THE STA TEMENT OF FINANCIAL ACTIVITIES
Unroslricled
fund
INCOME AND ENDOWMENTS FROM
Donatlons and leg&¢ies
130,091
Othér trading Atst￿lI￿￿
126,702
Toial
2S6,793
EXPENDITURE ON
Chatltable actlvllie8
Chaillable Aciivliies
Govèrnance
5,194
Total
216547
NET INCOME
40.246
RECONCILIATION OF FUNDS
Total lun18 brought fowaTd
156,085
TOTAL FUNDS CARRIED FORWARD
TANGIBLE FIXED ASSETS
Computer
e4uSpmgnt
COST
Addlllons
DEPRECIATION
Charge for year
280
NET BOOK VALUE
Al 31 Dg¢ombgr 2023
839
Al 310ecember 2022

Institute of Internatlonal Monotary
Research
Notes to the Flnanclal Statements - contlnued
for the Year Ended 31 De¢embar 2023
CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR
2023
2022
Olhar crad.Ilor8
MOVEMENT IN FUNDS
Nel
rriovemenl
In funds
Al
31112123
Al 111123
Unyestrleted fund8
Goneral fund
196,341
4.869
201.210
TOTAL FUNDS
196,341
201210
Not movemenl In lunds. Included In the above are a$ FollowB'.
Incomlng
r¢60UI¢èS
Resourees
expended
Movem6nl
In funds
Unrastrlcted lunds
Genpral fund
243,579
1236,7101
4,869
TOTAL FUNDS
243 579
238,7101
Comparatlves fov inovemgnt In funds
N81
movem8hl
in lund8
At
31112122
At 111f22
Unreslrlcted funds
General fund
156,095
40,246
196,341
TOTAL FUNQS
156 096
40,246
Page110

Institute of Internatlonal Monetary
Rèsearch
Notes to the Flnancial Statoment8- contlnued
for the Year Ended 31 December 2023
MOVEMENT IN FUNDS-conlinued
Comparalivo net movement In lunds, Included in the above are as follows,.
In¢omlng
Tesour¢&s
Resources
oxpend8d
IAoyemènl
In lund8
Uore81rlcted fund
G8neral fund
256.793
{216,547}
40,248
TOTAL FUNDS
256 793
216 5471
A ¢UTrenl year 12 month5 and prlor year12 months cornbined p0811ioh L8 a8 follow8:
Net
Tnovemonl
In fundg
Al
31112123
Al 111122
Unreslrlcted funds
G?neral fund
156,09S
45,115
201,210
TOTAL FUNDS
156095
201210
A currehl year 12 month8 and prfor year 12 monlhscornblned n¢1 movement In fun¢8. In¢luded In the above
are as follows..
Incomlng
re3uuTees
Resources
Oxpgndad
MovoM8nl
In fund$
Unro$lrlcled funds
Gonoral fund
500,372
1455.2fj71
45.116
TOTAL FUNDS
500,372
455 2571

Institute of Internatlonal Monetsry
Research
Notes to the Flnanelal Statempnts - contlnu8d
for the Year Ended 31 Décember 2023
RELATED PARTY DISCLOSURES
The Charlly 1$ under Iho ¢onlrol of Ihg5 Irusleas a8 $81 page 1. Durlng the year Professor T Collgdon CBE,
Chalrman of Iruslees. di)nated £117,00012022.'114,5181
Pagp 112

Institute of Intsrnatlonal Monetary
Research
Detalled Statament of Flnanclal Actlvltlos
forthe Year Ended 31 D8cember2023
2023
2022
NCOME AND ENDOWMENTS
Donallons and Iguacles
Donalbns
128,366
130,091
Other Iradlny a¢tlvltlos
MSC Cour80 Fe88
Online Tralnlng Programm8
ewlcè Fees
Glrt Ald
Grahi Award
Speak*¥ Fees
Olhar Income
47,074
834
20,000
28.216
54,563
2.493
40,000
27,543
1,260
19,000
89
853
115213
126 702
Total Incomlng resource8
243,579
266,793
EXPENDITURE
harltablè actlvllles
Wages
Research
Adverfistno
nlerns
Event E¥pgnses
vfrjeo
Compul6r equlpm8nl
169.822
370
4,671
130,214
67
9,273
34
15,09EI
14,282
7,600
280
197,025
164,686
Support C￿1$
Human r8$our¢es
Wages
Sundrip9
Slafl Eirpan8eE
30.000
7,402
758
45,769
6,253
38,160
56,110
Othèr
Sundrie$
225
557
Govarnan¢e costs
Accounlqnty and18gal fees
3,300
5,194
Thts pagedo¢s iioi form of Ilie3laliiloiy tljianciol 3tatuments

Institute of Intgrnatlonal Monetary
Research
Dgtallod Ststement of Flnanclal Actlvltles
for the Year Ended 31 Decembèr 2023
2023
2022
Tolol resourc08 exp8hd8d
238,710
Nèt Income
Thls pog¢ doo$ not form pArtofiiie stTrtiiloiy fln*iclal slalejnents
P&g¢ 12