THE WALTER GUINNESS CHARITABLE TRUST REPORT AND FINANCIAL STATEMENTS YEAR ENDED 6 APRIL 2024
THE WALTER GUINNESS CHARITABLE TRUST INOEX Year endod 6 Aprfl 2024 Pagg GeneT81 Infom)aUon Report ofthe Trustee6 Independenl examlnerfs report ststement of flnanclal actlvltie8 8818n¢• sheet Not68 to the flnandal 8ts1omenl8
THE WALTER GUINNESS CHARITABLE TRUST GENERAL INFORMA TION Year endod 6 Aprll 2024 Settk*r Rl Hon Bryan Wamer. Second Lord Moyne Roglstsred charfty numbor 205375 Truste0• The Hon Finn Benjamin Gulnn¢s8 The Hon R0881egn Ellsabeth Mulll The Hon Catrlona Rose Gulnne88 The power of appolnllng trustees Is vested In The Honourable Rosaleen Elisabelh Mulll Prfnclpal offlc• 8hJd88don House Andover Hampshlre SP11 90N Sollcltorn Ihers LLP 20 Old Balley London EC4M 7AN Ind•p•nd•nt •xamln•r Ollver Jackson ACA Dlxon Wllson 22 Chancary La London 2A1LS Inv••tmont m•nau•r• Cazenove CapK81 Management 1 London Wall Place London EC2Y SAU B•nker• C8zenove Capllal Management 1 London Wall Place London EC2Y SAU Tax Undar oXl¥ting law the Charty is exempt from income tax, Inherrtance tsx and capital gains tax.
THE WALTER GUINNESS CHARITABLE TRUST REPOR T OF THE TRUSTEES Year ended 5 Aprll 2024 The Trustees present thelr report and financial ¥tolemenls of the charty for the year ended 5 April 2024. The finandal slalements have been prepared In accordance with the accounting wliae8 set out in note 1 of the financial stslemenls and with the Accounting and Rewting by Charities.. Statement of Recommended Practlce applicable to charrties preparing thelr accounts In accord8nce wth the Financial Reportlng Standard applicable in the UK and Republlc of Ireland IFRS 1021. Th18 report should be read In conluncllon wlh the informal)n on page 2. Objectlves. structure. governanc8 and management The 8etUement was m8de in memory of the Settlorfs F81her, Walter Eard, FSrsl Lord Moyne. 8y the deed dated 6 December 1961, the trust fund as to capitsl (expendable endowment} and Income18 held for such charitable purposes 88 the Trustees think fil. The trust deed inclutjed a thntypone year power to accumulate income, whlch ended on 6 December 1982. After that dale Income should be used for charitable purpo¥es 8$ for as ills POS8lble, lthen oppolnwng a new Trustee, due consideratlon is glvan to the Bkllls required by the Board of Trustees. The Trusloes have adopted 8 policy In the ev9nl of the appolnlment of a nèw Tnjstee which include¥ brl¢f Inductlon and Ir8inlng process. Thls includes a rneetlng with the exlsllng Trustees lo advise on Investment policy, the grant maklng process and the powers and responslbllllies of tho Tru$lee board. In addition any new Trusloo wlll be provided wllh a copy of the latest financial sialements and annual retum and any recent inve¥tmenl reports. The Chgdty's ongolng actlvlU88 and policies are sel at Ihg dlscretlon of th• Trustee8 In accordance with the objectives of the trust deed, The Charity's principal •¢tivity is its grant making programme. The Truste¢$ meet fegularly lo detemilne distributlons lo well researched charitable projects. In addition, the Trustees meet annually lo review inv•gtmenl perfomance and receive quarterly reports on the Bryth ICVC $hare8. Actlvltl•s for the publlc bènofit The Tru51egs confirm that they have referred lo th8 guidance containèd in the Charity Commission's ggngral guidance on publlc tsenefil when setting their grant making policy for the year, in line with the Charity's aims and objectives. Th8 Tru8tee8 are s8ts'sfied that all gronl$ made dunng the year are for the benefft of the publlc and that the benefits of each 8nd every grant ar8 dearty idenbfiable. A li81 of significant grants con be seen In not8 4 to the Finanaal Slalemgnts. The Trustees in planning their grant making pdicy for the year consider that Its objects are carrled out by the wide range of grants made including.. tho provision of grants towards bufsarfes in the field of gdu¢ation,' funding medical reseaich,. and making gran15 for specific and general projects relating to actlvities for the disabled, olderly, veterans, prisoners, chiklren. f8mllle8 and youth, Ivtment pollcy The Trustees have wide powers of Inve81menl, as though beneficially enlid¢d. The Investment oblectlv8S are lo balance income and capital growth. Cozenov¢ Capital Management have discretionary management over the Charity's portfolio with the exception of the Diageo holding, on which they advise the Trustees. The Charity's inveslment P¢)rtrolio (excluding the Bryth ICVC 8h8res but including cash) has decreased In v81ue by 10.14% ov¢r the year. In comparison the FTSE100 index has increased by 2.19% OV8r the same period. The Truslo8$ afe satl8fled wllh Cazenove's invastment performa8 as they adopt a cautious conseNative approach to lon*temi investment.
THE WALTER GUINNESS CHARITABLE TRUST REPOR T OF THE TRUSTEES Ygar gndod 6 Aprll 2024 Flnanclal Rèvl The Trustees receivod Income of £201.211 12023 £186.6371 for the financial year refiecling an increase in inveslmgnt income of £14,574. During the yeaf the Tnjslees have contsnued to apply the Chadty's income by making grants totsling £156,60012023 - £184.8431 lo a wide range of charities 8s detailed on p8ges 11 and 12. The Trustees were pleased lo be able lo make 120 gronls in the year (2023- 121 giants were madel. Expenditure during the year ended 5 April 2024 amounted lo £197,782 {2023 - £221,152). The Truslees aim to spend the eslimaled Income from each year, 8lmSng lo have no significant income reserva$ at each year end. Administration services are provided at no cost by the Gulnness family. The Trus19es consldèr that there are no malerfal uncert81nties about the Charity's abS11ty to contlnue a8 golng eA>ncem. Future plans to achl•v• charltablo obJo¢tlv The Trustees are Batisfied wlh their grant maklng pMorllio$ an¢J investment policy and1118 Ihelr Intèntion lo continlje on this basls lo achieve the objectives of the Charity in th¢ future, Tho Charty conllnuas lo ¢on¢enlrale on 8UPPOrting Charities working in Wll8hire and would likè lo hear from these. R•r¥0¥ Polky The Endowment Fund represen18 the Charity's reserves which are used to generatè th6 incomo #8 necessary lo malnl8in the donations made. At the year end the balanc8 of the Income fund was £32,296 12023 Endowment Fund w8s £11,078,97612023- £10,608,068). nil) and the balance on the RS•k m•nagornont The Trustees ¢onfimi that the major rlsks to whSch the Charlty is exposed. a81d8nfied by the Tru$lo00, have been reviewed and systems have been eslabll8h¢¢J lo mlligate the risks. Tru8tees' reepon•lbllltl•8 In rol•tlon to tho flnanclal Statements Tha Trustees are responsible for preparlng the Tru8tees' report and financlal statements In accordance with applicable law and United 'ngdorn Accounting Sland8rés. The law applicable to charities in England and Wales requires the Trustees to prgpare financial 818lemenls for each financial year which give a true and fair view of the slate of 8ffair5 of the charrty and of the incomin9 resources and application of resources ol the charity for thal perlod. In prèparing Ihgse ffinancial 8latemenl8, the Trustees are required to.. select suitable accounting policies and then apply them consistently., obsorve the methods and principles of the Charrties SORP., make judgements and accounting eslimales that are reasonable and prudent., stale whether applicable accounting stsndsrds have boon followed, Subject to any departuro$ disclosed and explained in the finanaal $t8lemenls', and prepare the financial stotemenls on the going concern basis unless rt is inappropriate lo presume that the charty will ntInUe in busines8.
THE WALTER GUINNESS CHARITABLE TRUST REPOR T OF THE TRUSTEES Y•ar •nd•d S April 2024 The Trustees are respsible for keeping aeeounllro record8 whlth dis¢lose wlth re880nable accuracy tho ffinancial posits'on of the charity and enable them to ansure that the financial statements comply with the Charities Act 2011, the Charty {Accounts and Reports) Regulation5 2008 and the provisions of the Trust daed. They are also responsible for safeguarding the 03$ets of the charty and hence for taklng reasonable steps for the pr¢v8ntl¢M and detection of fraud and other IrregLdadles. Approvgd by the Board of Trustees on 7 March 2025 and $lgned on ihelr behaff by- R MULJI For the Tru8t8e8
THE WALTER GLIINNESS CHARITABLE TRUST INDEPENDENT EXAMINER'S REPOR T Year 6nded 6 Aprll 2024 Independent examlner'g report to the trustets of Thè Walter Guinness Charita1 TrusL I rewt to the trustees on my examination of the accounts of thg Trust for Ihg year ended 5 Aw'l 2024. Respon8lbllttles •nd b8818 of report As the charity Iruslee5 of the Trust Y are responsible for the prep8ralion of the aocounls in accordance th the requirements of the Charities Act 2011 I'the Acl'l. You are sa115fied that an audit 1$ not required for Ihls year under ¢harity1ow and that an independent examinallon Is needed. I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my exominalion I have followed all the applicable Diredions glven by the Charfty Commission under Becllon 14515llbl of the Act. Dbxon Wlson, 8 fimi of Chartered Accountants of which I am 8n employee has provided bookkeeping seTviceB lo tho Trust and I have aPled the FRC'$ Revised Ethical Standard in c8ryin9 Out my ex8min8110n. An Indepèndent •xaminalion does nol involvè galh8ring all the evidence that vuld bè required In an aud and consequently does not cover all the matters than an auditor considers in givlng their opinion on the accoun18. The plannlng and conduct ol an audll 908s beyond the limited asgurance that an independent examination can provide. Ccfflsequenlly, l express no opinion as to whether the accounts PTesenl a Irue and lair, view aTrJ my report 18 Ilmlled lo those speciflc matters 8et out In the independent examinerf8 8lalemenl, Indep•nd•nt ex•mlnor'i •t&tèment l am qualified to undertake the examination by boing a qualified mernbor of th• Institute of Chartered Accounlanls in England and Wales. I h8ve completed my ex8mlnalion, I conllrm that no mal8rial matters have come to my attents'on in ¢onnection with the examination giving me ¢ause to belleve that In any molerial resp¢ct'. accounllng records were not kept In re8pect of the Tru81 a8 requlred by 8ectbn 130 of the Act., or 2. the accounts do not accord whh those records., or 3. the accounts do not comply vAlh the applicable requlrements CoernIng the form and contgnt of accounts set out In the Charllies (Accounts and Reports) Regulaliorvs 2008 other than any requlremenl that tho accgunl$ give a 'trug and falr vlew, whlch 16 not a m8tter ¢onsid¢rad as part of an ind8p8ndenl examinatlon. 4. the accounts have not been prepared in accordance tha method8 and prfnciple8 of the Statement of Recommended Pracliee for accounting and reporting by charities applicable lo charities preparing their accounts in accordance with the Flnancial Reporting Standard applicaNe In the UK and Republlc of Ireland IFRS 1021. I have no concems and have come across no matters in ¢onnection with the examination lo which attention should be drawn In Ihls rep¢Jrt In order to enable a proper understanding of the accounts to be reached. OLIVER JACKSON ACA Dixon Wlson 22 Chancery Lane London WC2A 1 LS lo MA/rA 202S
THE WALTER GUINNESS CHARITABLE TRUST ST A TEMENT OF FINANCIAL ACTIVITIES Year endod 6 Aprll 2024 Unrestrlcted Funds Expendable Endowment Total 2024 Total 2023 Note Inct)mo Incom• and •ndowments from: Inve81ment income 201,211 201,211 201.211 186,637 Totsl Incomlng resourc 201.211 186,637 Expondftur• on: Cost of raising funds Charitable a¢tivlli8$ 28.867 28,867 168,915 29,348 191,804 168,915 28,867 168,915 197.782 221, 152 Net galnsl{1088e61 on Inv88lmenlB 500,599 500,599 (600,226J Not Incomelloxyndlturnl 471,732 32,296 504,028 (629,574) Othor r•cognl•od gaInlI$••}.. Not Ilosse5llgains on foreign currency exchange Net movement In funds {8241 470,908 18241 503.204 17,617 32.296 (617, 124) Fund balanc•$ brought fr*Mard Fund balance8 carrfed forward 10,608.068 10,808.068 11,225, 192 11,078,970 32,2 11,111,272 10,608,068 l amoun18 are In respect of contlnulng actlvilie8.
THE WALTER GUINNESS CHARITABLE TRUST BALANCE SHEET As at S Aprll 2024 2024 2023 Flx8d a88ets Investments 11.052.679 10,615,274 10,615,274 11.052,879 Curront 4M•ts Cash al bank 77.593 3,311 77.593 3,311 Llabllltles,. amounts falllng due wSlhln one y8Ar Nel current asselsllllabllillesl Total a8sots le88 curnnt Ilablllll•s 119,0001 58.593 110,517) (7,206? 10,608,068 11,111.272 The fundg ofthg charlty: Expendable endowment fund Unrestrictgd Income fund 10 10 11,078.976 32.296 10,608,068 11,111.272 10,608,068 The financlal slalemenls on pages 7 10 15 were approved by thè board of trustees on 7 March 2025 and were 81gned on ils behall by:_ R MULJI Trustee
THE WALTER GUINNESS CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year •ndad 5 Aprll 2024 Accountlng policles {•) Basls of preparation and asg088monl of golng Goncem The finarla1 statements have bean prepared under the hl8torical cost conventlon. wllh the exception that investments are Included al market value. The financial stslements have been prepared in accordance wlh Accounting and Reporting by Charitie8.' Stslemenl of Recommended Practic8 (applicable to chaTilies preparing their accounts in accordance wrth the Financial Reporting Stsndard applicable in the UK and Republic of Irelan¢J IFRS 10211 leffectlve 1 January 20191 and the Charilles Ac12011. The Trust ConsluteS a public b8nelll enlty 88 d8flned by FRS 102. Thg financlal slalemen18 are preBented In Stertlng whlch Is thè functlonal cjjrrency of the tru$l and rounded to tho n88rest £. Ib) Fund structure Unrestricted fund$ ¢omprt8e Ih08e funds whlth tho Trustees are free to Use f¢y any purpose in furtherance of the charKabl& oblecl8. The expendabb endowment repr•senls funds origlnally sgthed into tho Charlty and 8ub8equ8ftt glfts of 8har¢$ by family members. The Trustee8 are permilled lo apply the endowment as though il were Income. {c) Incom• recognltlon All Income Is re¢ognl8ed once the Charity h4s entitlement lo the income, there is Sufficient certalnly of receipt and so 51 1$ probable that the Income will b8 received, and the amount of Income receivable can measured Tgliably. Inter851 on funds held is included Upc nollfic8tion of the intere81 pald or payabl•. Dlvldends are ro¢ognls8d once the dividend has bean declared and notification ha8 been recelved of th• dlvldend due. Income from dMation8 and legacles is recognised 0$ il ig received by the Trustee8. Idl Expgndlture rncognltlon Liabilrties are recognised as expèndthre 88 800n as Ihgre is a legal or constructlve obligation Gommitting tha Charity lo that expenditure,11 is probable that Settlement will be required and the amount of the obligallon can be measured reliably. Al expenditure 1$ a¢eoLbnted for on an accruals bas15. All exp8n8es, including support costs and governance costs, are allocated or appOrtned lo the applicable expenditure he8ding8 In the Slalement of Financial Activities. For more inforni81ion on this all¢xatlon ref9r to note el below. Grants payable are payments made in furtheranee of the ch8ritable obj¢¢tive8 of the Charmy. Provision is madg for grants approved by the Trustees In the year. 101 Allocatlon of govornance and other support costs Govemance and support co818 h8ve been allocat¢d betsveen charitsble activities and govemance based on the activty lo whlch they relate. The allocation Is analysed in nola 5. Govemanee costs comprise all ¢osts Involving the public accounlablllty of the Charity and its compliance wlth regulation and good practice. These costs inclLKle Costs related lo Ihg independent examlnation of the Char'ty and accountsncy charyes topther whh an apportionment of overhead aTr support costs.
THE WALTER GUINNESS CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended S Aprll 2024 Ifj Cost of ralslng funds The co81 of generating fund$ ¢omprises the InveBtmenl management charges. lg) Charltable actlvltle8 Thg expenditure on charRable actlvities comprlses grants made In the year. governance c0818 and an apportlonment of 5UPPOrt Costs as shown in note 4, Ih) Flxed asset Invostsn•nts Inve8th18nls are initially recognised at their transaction valu8 and subsequonlly measured at their m8rkel value as al the Balance Sheet dal8 using th8 closing quoted bid market price or an eslim8te provided by the investment managers. The Slalemenl of Financial Activlts'es includes the net gain8 8nd losses arising on revaluation and diswsals throughout the y88r. {11 R•albJ•d galns and lo•••$ All gains and108ses are tsken to the Statement of Financial Activities as they arise. Re81I$ed 98in$ and losses on investments are c81cul8ted a8 the difference befven sales proceeds and their openlng arrylng value or their purchase value If acquired 8ub8equent lo the first day of the finandal year. Unrealised galns and losses are calculated as the difference betsveen the fair value al the year end and Ihelr carrylng value. Reali$ed and unreali8ed InvestnI galns and 1088e8 are comblned In the Slalement of Flnan¢io1 A¢tivili•8. Ul Forelgn currency tTAnslatlon Trans8ction8 denomlnated In forelgn currencle8 are recorded al the r818 ol exchange rullng al Ihe date ol the transactlons. Monetary assets and liabllltl88 denomlnaled In fofelgn currencles are Iran818ted Into Sterling 81 year end rates and tran8latlon dlffeTence8 are taken lo the Statoment of Financlal ActIVles. Incom• and •ndowments 2024 2023 IDvestmgnt Incomg Gwgraphlcally: Wlthin the UK Outside the UK 122,815 73.OSO 99,404 79, 754 195,885 5,346 179, 158 7,479 Interest on ¢a$h deposrts 201,211 186,637 All Investment income relate8 to quoted investments. 10
THE WALTER GUINNESS CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Y¢•r ended S Aprll 2024 Cost of rnlslng funds 2024 2023 Investment management charge$ LEI charges 28,807 60 29,348 28,867 29,348 Anaty$l$ of ¢harlt•bl• Actlvttlo• The Charty undertakes it8 charltable aclivilie5 through grant maklng 8nd 8warded grants to a number of Insthud'ons in lurtherance of Its charitable objectives. 2024 2023 Grant fund9d adivty Supp)rt and gov¢rnan¢• ¢0818 156.800 12,315 t84,843 6,961 168,915 191,804 Grants In furth•ranc• of charltablg obloGtI¥•¥ All grants are made to in81ituUon¥ Grants over £1,000 In d••¢ondlng order of magnltude Samaritan$ Sallsbury H08plce Chadty Leuk8emia Care Prisoners Educ8tlon Trust Pr08pecl Hosplce Sheller Wellsprlng Counselling Age UK Will$hire A$pire Broinwavo Bristol Avon Rlv8r8 Trust Care Home Volunteers Cavell Nurses Trust Enham Trust Fight against Blindne¥$ Fare Share Soulhwesl Hope for Tomorrow Indgpendence al Home Leaming for Life Listening Books Maggie's Southampton New Life Prisoners Advi¢e SeNi¢e Rainbow Trust React React Disaster Respons• Carried forward 5,000 4,000 3.000 3.000 3,000 3,000 3,000 2,000 2,000 2,000 2,000 2,000 2.000 2.000 2,000 2,000 2,DOO 2,DOO 2,000 2.000 2.000 2.000 2,000 2,000 2,000 2,000 64,000
THE WALTER GUINNESS CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Year ended S Aprll 2024 Analy818 of charftable actl¥ltle8 Icontlnued) Brought forward Rise 61 Salvation Army Save the thildren Sense Sixty-one Swndon Hardship Fund Thè Royal Agricuttural Benevolent Inslitulion Treloars Wiks & Berk8 Canal Tru81 Wikshire Air Ambulance Willshire Community Foundallon Wif(shire Sight Young & Free Young Ilves vs cancer Youth Adventure Tnjsl Dorchesler Tru81 for Coun$elling & P$y¢hother8py Cancer Support UK Total gr8nts over £1.000 Total of 77 other grants UP to £1.000 Total of 120 grants In year Prbr year grant adlu81ment8 Total gr&ntB 64,000 2,000 2.000 2.000 2,000 2,000 2.000 2,000 2.000 2,000 2,000 2,000 2.000 2,000 2,000 2,000 1,500 1,050 94,550 85,050 159,600 13.000) 156,600 Grants by valuo 2024 Total value 2022 Total value Noof Grants Noof Grants £1- £249 £250- £499 £500- £999 £1,000- £2,499 £2,500- £4,999 £5,000+ 200 350 10,500 124,550 19,000 5,000 159,600 21 90 119,364 38,000 30,000 193.464 12 120 121 Grants by geographlcal locatlon 2024 2023 Mumber Number Proje¢t$ OLrtside of the UK Projects in Vmttshire & neighbouring areas Projects elsewhere in the UK 1.500 86,350 91,750 48 70 83 37 139, 179 53, 785 120 159,600 121 193,464 12
THE WALTER GUINNESS CHARITABLE TRUST NOTES TO THE FINANCIAL ST ATEMENTS Year ondod 6 Aprll 2024 S. Alloc•tlon of gov8mance and other support costs Support costs and how these were allocated beiweon governance and Charitable actlvilles are shovm 2024 Charltable aGtivltlos Govofnanco 2023 Charitabl• ctiviti•s Unwtrl¢tod Income fund Govern•nGo Independ8nt Examin8rfs fees Independanl Examineffs fee5 ply adjustment Accountancy and taxation services Postage stamps Information Commis$loner Bank charges 1,800 1,422 192 4312 10,095 150 40 35 230 11,935 380 6,961 Trust¢ oxponse• and r•mun•ratlon None of the Iruslees received any remuneratson or rgimbursomonl of expenBes in r88pect of the financial year ended S April 202412023- nill. The tharity h05 no employees12023- nil). Flxod aB•et Inve8tm•nts Total 2024 Total 2023 Market value al 5 April 2023 Disposal PToceed8 Acquisition8 al cost Nel gainslllosse$l on revaluallon and d18PO881 Market value 8t 5 Aprll 2024 Cash held wfthln the Investment portfollo 10,498,158 11,600,790) 1,604,947 500,599 10,959,335 (1.607,820) 1, 746,869 (600,226) 10,498,158 117,116 11.002.914 49,765 11,052,879 10,615,274 Historical cost al 5 April 2024 5,604,584 5,629,681 13
THE WALTER GUINNESS CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Yoar endod 6 Aprll 2024 Cash At bank 2024 2023 Investment income account Bank account 10.767 86.826 77.593 (495) 3,806 3,311 Llabllltle•- amounts falllng duè wlthln on• yur 2024 2023 Independ¢nl Examinerf8 lees Accounting and tsxalion services Investment management charg08 Grants payable 1,800 2,200 7,000 8,000 19,000 1,422 1,889 7,206 10,517 10. Anaty•l8 of n•t •u•ts b•tw••n lund8 Expendable Endowment Incomo fund Tot•1 2024 Investrnen18 C8$h Credllorn 11.052.679 33,297 17,0001 11,078,976 11,052,679 77,593 119.0001 11.111.272 44,296 112,000 32.296 11. R•latod partl•s The Trustees, investments arè managed by Cazenove Capital Management, gxcepl for the Charty's holdings In Diageo and the Bryth ICVC, a UK open ended investment company. The Charity's share¥ in the Bryth ICVC were acqulred In November 2007 in exchange for shares in Templeco 613 Limited, a UK private investment company. The Charity's shares In Templeco 613 Limilgd wgrg in tum acquired in November 2003 in exchange for ils common NPV shares in Bryth Limited, a company registered In Canada. The Idlowing Trustees have an interest in shareg in the Bryth ICVC.. The Hon Finn 8enj8min Guinn8s¥ The Hon Calriona Rose Guinness 14
THE WALTER GUINNESS CHARITABLE TRUST NOTES TO THE FINANCIAL ST A TEMENTS Ye•r ended 5 Aprfl 2024 12. Volunleern Other than the trustees, the charity re¢elves no wntrlbutlon from voluntsers. 13. Summary of fund movemonts Fund Nam• Fund balances Brought forward Fund balanc•8 carrf•d Galns and 10s•08 Income Expondlturo Trnnif•rn Expendable Endowment 10,808,068 128,8671 1168,91 $1 1197,7821 499,775 11,078,978 32,296 499,775 11,111,272 Income 201,211 Total fund8 10,e08,068 201,211 Prforyear Fund b•lan¢o• 8rought forward Fund balanc carrl8d forward G•ln• and In¢om• Expondltur8 Trnn•fèr# Expandable Endowment 11,225,192 129,3481 1191,8041 1221,1 $21 15,1671 1582.609110,608,088 5,167 Income 186,637 Total lund8 11,225,192 186,837 (582,609110.608,088 15