Kennedy Memorial Trust
Trustee Report and Financial Statements
Year Ended
30 April 2024
Registered Charity Number 234715

Kennedy Memorial Trust
Annual rtrport and financial statements
for the year ended 30 April 2024
Contents
P8ge."
Report ol the Trustees
epon oflhe independeni audffors
15
Statement of financial 8CtNrties
16
88lan¢e sheel
17
Notes formin9 part of the financi81 stslemenls
28
App•ndix'. Diversty d•ta and Stgtsstieal R•port on tho ?n?i?4 Kp.nnArfy.qehD14rship Competition
Referenc• and AdmInIstra￿ve Informauon:
Trusleos
Prol Sir Mark Walport. Chairman Ireappoinld 8 July 20201
Ms Mary Ann Sieghart, Senior Independent Trustee (reappointed 1 January 20211
Mr Tarlq BaloKh l<ippuiiilwJ 10 July 20231
Professor Kirslie Blair lappoinled 30 Septembor 20241
Mr Matt Clrfford CBE Ireappoinled 1 January 20241
Mg qlpphaniA FIAndp.rq Iiinlil ?9.Sp.r>tpmhp.r ?n?41
Ms Tilly Franklin (appointed 27 September 20201
Prol Maya Jasanoff lunlil 11 January 2024}
Prol Fiona Ma¢pherson lunlil 29 Seplefflber 20241
Prol Garelh M¢Kinley lappoinled 28 Novembèr 20221
Mr Rupert Morley (appointed 30 September 20241
Professor Rana Mrtter lappoinled 27 August 20241
M3 Moira Walkce OBE (Teappoinled 1 January 2024)
Patrons
The Rl Hon The Lord Mayor ol London- Sir Ni¢lb)la$ Lyons {unlil 10 Noven*er 20231, Prof&s50r Michael Mainelli
The Govemor ol Ihe Bank ol England- Andrew Boiley
Dlr•ctor and Prlncipal Addrèss
Dr Emity Charnock luntil December 2023> and Mr Tmothy F8rrow-House (from March 20241. Th8 Kennedy
Memorial Tru51, 3 Bird¢age Walk, LONDON, SWIH 9JJ
Accountant
Arabis Accountsncy se￿ICe$ Ltd
WARE
Hertfordshi
8G12 eJL
Auditors
Dunkley 5
Statutory Auditor
Charteied accounlanls
WoodLrynd¥ GMn9e
Woodkinds Lane
Bristol
BS32 4JY
Soli¢ltors
Messr5 Stone King LLP
Boundary House
91 Charterhouse Street
L(x)don
EC1M 6HR
Banker5
Th¢ Royal Bank of Scotl8nd pl
62163 Threadne￿Ie Street
pu ￿0X 412155
London
EC2R 8LA
Investment Managers
Amundi Man￿e￿￿nI
77 C0￿man Street
LorKJon
EC2R 5BJ
Charity number: 234715

Kennedy Memorial Trust
Report of the Trustee5
forthe year ended 30 April 2024
The Trustees presenl their report and the audrted finan￿al statements for the year end￿ 30 Apnl 2024.
Status and Administration
The Trust is an unincorporated charty. Charrty No. 234715. governed by a trust deed dated 4 July 1964 8nd
amended 11 July 2007. Its principal aciivny is io adminisier the Menxjrial Fun(J Sei up to c(mmemorate P￿Sl(lent
John F Kennedy. The Memorial takes hvo forms..
a memorial in landscape and ston8 al Runnymede
the award of Kennedy Stholar5hips e&h year to British gradu8te students lo attend Harvard Unwersity and
Ihe massachu5￿lS Instiiute of Technology.
The Trustees who served during thg year V￿re..
Mr TarHJ BaloGh (appointed 10 Juty 20231
Mr Matt Clrfford CBE
Ms Stephanie F18nders
Ms Tilly Franklin (Finan￿ Trusleel
Prol Maya J8sanoff lunlil 11 Janvary 2024)
Prol Fiona Macpherson
Prol Gareth McKinley
Ms Mary Ann Sieghart (Senior Independenl Trustee)
Ms Moira Wallace ULI
Prol Sir Mark Walport (Chairman)
Tho day.to-d#y running of tho TruBt IB dolegatgd to th• Dir•¢tor.

Kennedy Memorial Trust
Report of the Trustee5
for the year ended 30 April 2024 (Continued)
Structure. Governance and Management
Govèrning Document
The main d(￿Ument governing the CO[￿L￿t ol the Trusi's aCt￿rt￿$ is the trust deed.
Organlsation Structure
The Board is formalty composed of eTghl United Kingdom Trustees and three Ullf(ed Slates ol America Trustees.
The UK Trustees a￿ appointed by the Piime Min15ter ofthe Unrted Kingdom. Once appointed, Trustees ar8 given
induction training in the govemance. operalKJn and managemenl ol the Trust by the Director. As Ihe need Is
identified, Trustee5 receive training either as a Board or individualty in their specific areas of responsibility. I he
Trustees hold office lor a period not exceeding five years and. upon re￿"￿￿￿nI. become eligible lor re-appoinlmtsnl
for one further temi. The Tru51ees who served during the yeaf are ltsled under Stalus and Administrative
Inlomi•lion.
The three US Trustees are appvinted by. re5pectNely, Ihe President of the Unrted States of America. the President
of Harvard University and the p￿sKIent ol the Massxhusett$ Insb'tute ol Technoloov IMITI Followino the
retirement of Professor Maya Jasanoff in January 2024. Harvard's Pres￿￿ent appoinled Professor Rana Mrtler as
o Trustee effoctivo ?7 Augu6t ?0?4. Th•r• 1¢ ¢urrontly a va¢•n¢y amon9 th• US Tru6t•#s •nd th• TryJ$t is in
communication wrth the US Embassy in London regarding this appoint￿nI.
The Tru$lee body thus consisted of len rnembeTr from May 202310 January 2024, and nine mèmbers thereafter
for the remainder of th9 2023-24 financial year.
Ther8 are hyo ex-off￿0 patrons. the Rl Hon Ihe Lord Mayor ol London and the Govemor ol th& Bank of England.
Managem•nt Structurn
The overall poly for the Trust 16 laKI down by the Board cl Truslees. which rr￿1$ Iin*s 8 year. In January
2024, the Board reviewed and approved prqected spending on for the following financi81 year.
This year, the Trust ccfflrni88ioned 8 fundraising study. from Halpin Partnership. and condueled a review ol rts
Govemance slruclure. As a re5Urt ol these fv40 iniliatNes. a decision was taken to increase the capacity ol tho
Trust's Executive team by recruiting bolh an AdministratNe Assistant and a Fundraisino and Alurnni Relations
Associate (both positions potentially on a part-iirrE basis} in supp)rt of the Director.
TheTrusl has created su￿0MMrtteeS of ts Board in orderto1gv8ragethecapacilyofils Trustees lo furthersupport
Ihe Executtvg.
These Committees, and their a￿85 of ￿pon$t)lIty. are-.
Academlc. Scholarshlps and wellare Sir Mark Walport (Chairl
Oversee Kennedy Scholarship ¢c¥￿petItU)n
Conduct long and short listing of applie8nts
Review scholar feedback and recommend any changes
Divprsily
Support handling ol weware ￿$8S
Oversee mearns-testing of stipend aupport
Finance. operations and¥udit Tilty Franklin {Chairl
Financial strategy
Budget planning and m<￿110T1r
Bu3incB3 plan ¢r¢otion ond monitoring
Investments
Report and accoun
Operational syslems loir￿e5. IT. CRM. dala proteclion, reL2t&J p￿lect8)
Care of the Memorial

Kennedy Memorial Trust
Report of the Trustè8S
for the year ended 30 April 2024 (Continued)
Alumni. fundraising and ¢ommunkation$ m￿ra Wall&e (Chair)
Alumni enoaoement
Event planning
Fundraising Strategy. delivery, pol￿￿. donor recognition
lrnpacl reporting
Vvebsite reaeveiopmeni
External comMUn￿at￿)n5
Nominations. p8ople. and boarddov•lopmonl Mary Ann Sieghart (Chairl
Board development and evaluation
Aniculaiion and revlew o19overnanGe framework
Staff recruitment. remUnerat￿n, HR matters
Trustee and Chair rKruitrn8nt
PrthparAt￿n of slrategy sess*)n working vjith Chair and othw siih<rnimittp.p4
Key manag?m?nt personn•l
The key management Pers￿￿1 of Ihe charty. responsible for directing and Controlling, njnning and operating the
r.h*rily nn 8 d8y-In4ay basi5. comprise the Trustees Ic•Jelher wth the Director. Trustees do not recew8
remuneralion in respect ol Ihfrir services lo the charity. The remunèr8lk)n ol the Diredor Ys reviewed annualty by
the Chair, Senior Indwndenl Trust¢s, orwj Finance Truslee.
In tuwilling Ihetrobligations throughout theyear, the I wstges nave hall regard Iolhe gukJatKe Issugd by the Ghartty
Commission on public benefrt.
Fundrnblng Stst¢mont
The charity airns t¢ achieve best practice in the way in which il communicates with supporters. 11 takes care with
the tone ol ils communicationy. The charrty undert*es to rexi lo and investigate any wmplaints regarding ils
fundraising a¢lNities and to leam Ircffl them •nprove ts service. DuriThJ the yoar, Ihe charrty received no
complaints about its fvndrai$ing activrties.
This year the Trust Commiss￿)ntI a fyndrgising stuty. from the Halpin Partnwship. in preparat￿n for a mgjor
fundraising campaign to secure donalions which wll enablè the Kennedy Scholarships lo continue in perpetuity.
The prqect included an asseSs￿En1 ol past lundr¥isin9 actw, compelrtor reseaKh 8na b8ncnmarking,
davelopino a Case lor Support. inleNiews with alumni aThJ a resou￿ appraisal.
I lalpin Partn¢rJhip'$ report exploined that a ￿Mp8K4￿ would bc a oonsidefublo ¢¢op ¢hon9e for tha
Trust as there Is cuirenlly limited lundraising capacrty. However, the report identified a hvJh level of motivation to
support the Trust and highlighis tha considerable pc4enlral lo harness the ambilK)ns of the Trustees an*J wider
scholar community lo establish a phiknthrOP￿ cuttufe8nd creale a platfom forfundraisino 86 8$u￿SsIu1 ongoing
aclNrty.
Kennedy Scholarship5 enable the leaders and ¢hange makers of lorrK)rrow lo learn, griw4 and evolve through study
at Harvard and MIT. The Scholarships ensuie this this transformative experience is available to students who
champion the values of inlelle¢lual èndeavour, leadership. arKI publt service, regardless of economic
circumstances. Every year there are more hKJhty impressive candidates than thè Tnjst can afford to 8w8rd
scholarships. The Trustees aim to make this lrfe changing opportunty aval￿ble lo mre of Ihèse inspiring young
people. Increasing the nufflber of philanthropic gifts to Ihe Trust will make this a reality.

Kennedy Memorial Trust
Rèport of the Trustee5
for the year ended 30 April 2024 (Continued)
Management of Principal Risks and Uncertainties
In 21K)1. Tiustees conducted 8 major review of the risks lo which Ihe charty wa5 exposed, including those related
lo the operations and finance5 of the Trust and those specificalty related to the mernorial at Runnyrnede. This
exercise was repealed in 2009 and in June 2021. The risk ￿gIste￿ u% wiewed annually by the Board, having regard
lo the size 8nd objects of the Trust. and seeking lo ensure thal apprcpriale measures are in pla￿ lo miligale the
TrLlSt's &xposiir8 lo major risk Ongoin9 monitoring is d•le9ated totheDireetor#nd thè Sen￿r Independ•nt Trust•è.
in Consultst￿n with the Chair.
1. InSUff￿lent funds generated.
through returns on investmenis
and a fundraising campavJTr, to
support the ongoing annual
awarding of Kennedy Scholarships.
The number of ￿hOlarShIpS awarded each year is related
to affordability. A spending pc*lry has been adopted lor
clarrty and consislÈncy in detemining affordability. A new
fvndiaising campaign is being planned lo strengthen the
Trust'è investment portfolio for the future.
2. The Tru$l's acquisition of a
r•pulation that would thr￿1¥￿ th•
standing of the scholarships, either
In the eyes of potent￿1 Iirsl-tate
applicants or among ac8demu at
Harvard or MIT.
Trustees a￿ chosen wrth the schd8rship's reputation
very mLtch in mind. They themselves come from a variety
of bxkgrounds and regularty reconsiderlhe erileria for
Y•ardii)9 sctiv1￿¥llIyJ 411)d tliv tsul601)ies ii) lerms of
dwersity of background as well as fields ol study.
3. Inadequate Manage￿nI of
appI￿nIs. personal dala In an
online applKalion syslem. or other
data bre￿h.
The Trust uses a repulablg cLxnpany for rts online
application system, wh￿h employs password-prolecled
access to indiwdual data, encryption and SSL security
certificatès for safe data transmission. It has robust
dfy¥sler.recovery procedure5. The Trust also h¥$ robu$l
policEs perlaining to data handling and Storage.
4. Accident or injury lo o member of
the publK visilirng Kennedy
Memorial at Runnyn*dtr.
The Trust has consbjerable public Ikqbilty ¢over, al
vg1 researched and mart(et-le$led in 2016. to ensurg
Ihal any claim frcrfn a member of the Publ￿ could be rnet.
In addition, there are signs throughout the 511e warning
visitors of h¢i9htty)ed risK$ in wet wealher. The niemorial
is in 8 rural rather than a parkland location therefore
requiring appropriate f¢¥)￿ear. Partnership with the
National Trust and reQu￿r visrts by the Director and
Truslees ensu￿ the landscape managemgnt risk$ arg
apprgprialety monrtored and acted upon
5. Uiswptions to ¢)perations or awaffjs
relating lo planned office closure
andlor loss ol important records.
I he Trust ha5 enhanced rts dvJital ¢apabilities and
Prc￿edureS so as lo facilitate remote working and
operations. ensuring conbnuty of activrties and
organisational resilience. Th¢ Dir¢¢tor now w¢)rks
remolety, primarity. and the Trustees have decided lo
cljse the Trusi's o(Trce. planning for tnis cthure Is
underway. Essenlial operalK•nal fi￿$ a￿ now digilised
and other phys￿1 files will be assess&Y as lo their future
$tor¥ge- whether in dwjitised format or physically
retained. A rep05rt0ry will be sought for the Trust's most
itnportant dwumenls- part￿ularlY applKation5 and
operalional records Iwilh appropriate access controls) so
aslo
reserve rts archive.

Kennedy Memorial Trust
Report of the Trustees
for the year ended 30 April 2024 (Continued)
Objectives and Activities of the Trust for the Public Benefrt
In accordance with the goveming documents. the objective of The Kennedy Memorial Twsl is to preserve an
8pproprKate British memorial to President John F Kennedy, perpetuating the memory of his outlook and
a¢h￿vernents.
The Kennedy Memorial Trust adminisleis monev donated al the outset by the Brrtish public in response lo an
appeal after the assassinalw of Presidenl Kennedy on 22 Novernber 1￿3. The British mernorial has two
eXpreSS￿n8.. a physical rnemorial in landsca￿ and stone at RUnnY￿￿de. in Surrey. and a Iwing memorial offering
Kennedy Scholarships lo British poslgr8duate students admitted lo Harvard and the Massachusetts Institute of
TecThnoiogy.
The Kenft￿y Memorlalat Runnym8d•
Th•TrustÈes prot•ct, pr•serve and maintain Ihe Kennedy Memorial al Riinnympilp. in A4qnp.i*tiAn with IhKt National
Trust. lo enab￿ public access to, and enjoymenl of, the srte. The Memork81 was desvJned by Sir Geoffrey Jelli¢oo.
who drew on The Pilgrim's PrLy3ress. Bunyan's allegory ol life as a joumey, as inspiration ltsr the design of the 31te
and opened by the Queen on the 14 May 1965. The mem¢xk41 wès listed in 1998. andthewthr memorial landscape
was added le the Register ol Parks and Garden$ in 2020.
There are three elements lo the Memori81".
a stepped pathway. made vp of 60,000 graniée wnds up through wo&aland to briThg the vi$ilor1o the
glade where...
a seven ton bthk of PortL8nd stone stsnds on a plinth and inwb&J wrth W(￿d8 taken Irom President
Kennedy'8 inaugural address in 1981
a paved palhway18ads to the Seats ol contemplat￿ Ilhe end of thejoum8yl from wheie Ihgre is a Superb
view ol Runnymede
The National Trust ha$ re¢gntty ccfflpieled a fNe-year project ¢alW Runnymede Explored which has crèated
ccessible paths artd Ir•il$ to link Runnymede's memorials and athorks. with ¢rè8tsve intarpretalKsn along the tr8118
telling Runnymede's incredible stories. The enh8wmenls at the Kennedy Memorial Include new signage, a bench
neartne gate lorthose who can'i manwJe thtt¥ivps ¥nLI ¥ ￿1¥￿1 al Itiv Vil￿￿11￿￿ f¥4luiiiiy # 4￿￿* Ironi JFK,
in8ugura1 address in 1961 on one side.
Th• quot• ro4ds.' All Ihis WMI not bo finK9hod IN> I￿j kFr*t rtnA rtHyx Nnr wlll rf fini.qhad in th8 on8
Ihousand days...nor even perhaps ￿ our lrfelime on th￿ ptsngl. But bl us begin.. On the other side ol the gale,
from JFK'S CommencemenlAddress al IheAmerKan UnNersty in 1963. another inscription reads. Ourm(k81 b851C
common link Is th81 we 811inhabil Ihisplan&t. We 811 brealhe Ihe $8me air. W& all chgrish OurCh￿d￿n s lulu￿. And
we gre ell mortal.,
The gale was assembkd at the end of thg carving prOCA￿ by young al ¥n Instrtution for Young Offenders-
I IMP Isi?.
M8si$rCafy¢r, Hwjh ￿dd@￿u￿, and
Phil Surey. ￿0 was r85pon&ble l(*all
I￿￿ng on Ehe 9&te, hold ￿ the ncw
g81oin the atHMPIstS.

Kennedy Memorial Trust
Report tsf thp TnJ4tgp
lor th& year ended 30 April 2024 {Continued)
Kennety Scholarshlps
Kennedy Scholarships provide lull tuition fees and health insurance, a stipend for liwng c051s. a generou5
onlribution toward5 the Gost of one retum air fare to Boston a¢)d an &ldthonal discretionary grant for vacation
travel wrthin the US. The Scholarships. whth typr31ty are offered for one ac&Jemic year, enable a srnall group ol
exceplionalty lalenled British graduates lo lake advantage of postgraduate educah.onal opportunitie5, tailored lo
ambitious development plans. Tuitk)n costs high at both Harvard and MIT and most applicants have
considerable sludenl debt from their undergraduate degrees. There are clear benefits which arise from obtaining
graduate qualification in the US. both for the indNKlual's professi￿￿1 career and for the UK when they return.
The Trust is one ol a small number of bodies enablin9 ￿dIng British graduates lo avail themselves of this
opportunrty. Kennedy bcholarships are awarded annualty. in competsbon. after a UK wi49 publicity campaign In
universities and unNersty4ype institulions vAth assockated •dverti$arÉnts.
Full appli¢ation dfttoil6 are ?vJitsble on the Truct's wcbGrtc." YhYw.kcnAcdytwGt.or9.uk. Applicants mutst bc 8ritlGh
cilviens at the time of applicat￿n. ordinarily ￿sIdent in the Unrted Kingdom and lo have been wholly or mainly
edu¢aled in a British s¢hool and a British institution ol higher education. 11 not due lo graduate in the year ol
applulDn. the Trustees require that appI￿antS commenced Iheif underoraduate $ludi¥s al a UK inslilulion ol
higher education no earlyer than len years prior lo 1 September ￿ the year of 8W8rd. In awarding Kennedy
Schol¥rship$. thè Trustees particularty w•kom• appli¢ants vjith • stron9 p¥blie-s•rvi¢• •thos. Th•y t•k• into
¢on$ideratioTh candKlal¢$' intelleclval attainment. readinesy and abilrty to express themselves, and a well-
researched and argued case for their propose(I courso of Study al Harvard or MIT. They also bok for originality of
mind, potential to make a mark in publ￿ life and the 8bility to overcome adversity. Awards are made in tho
expectation that Kennedy Scholars will bring the benefrts ollheirAw￿r￿an experience back lo the United Kingdom.
In iecenl years, the Tru51ees have also awarded Kennedy Summer Research SchoL4rships. first olfered in tho
finanGi•I yeer lo 30 April 201 e, to Dritish citizens Ytho are •mrt411¢¢1 on doctoral pra9rammes at I laNard and MIT.
These have been awarded through a Separate application proce$$ in support of research proj8Cts and are offered
lo broaden the reach ol Kennedy Schokrnhips. Th9 2023 awardeg was a doctoral cand￿at8 ITh th8 Departmenl of
Aeronautics and Astronauijcs at MIT.
Tho Trucl maintoins eonttset with k*rmor Kcnncdy Scholorg throughout thc ycor ond typicolly orgonisc9 scverol
events for current and former Scholars. A summer reception lor new Kennedy Scholars and alumni was hekl in
July 2023 ai L¢rndon Mithraeum Bthmberg SPACE - a wnlemporary 8n 90110ry 8lop the remains ol a Romarn
Igmple, now part ol Bloomberq's European Headquartets.
To mgrk thè 601h 8nnivor$8ry ol the tragic assassination of pres￿ont John F. K8nnedy th8 Trusl hald a spacial
event and reception for alumni at the Royal Society on Tuesday 21 November- the eve ¢)f the anniversary itself.
Tlltl VV¥11L lvdluivd ¢1 pdiiel vf K¥iiiiwJy ¥¥liuldi¥ vxpkjring President Kennelly s and ¢oniinuE(J relevance In
considering contemporary gk)bal challenges. The Tnjsl plan to hokl evenls lor alumni in both the UK and the US
in 2024 to prepare for a celebration of the 60- ann￿erSary of first scM)lars dep8rtitv4 for Cambridge in 1966.
In Aonl 2024 our Schola
JLI Us￿¥bULl Trubl￿&
&ted theJohn F. Konn6dy
LibNary FcwnuatioTr, wher
IlJeyenJoyed a privale lour
ofthe museurn and
cebbrnton th"nner.

Kennedy Memorial Trust
Rgport of tho Tnjstoes
for the year ended 30 Aprll 2024 fcontinued)
Grant-rnaking Policy
Kennedy SchoLir5hips enab￿ leading British graduates who are also Briti%h citizens lo benefrt from the broad
educalK)nal opportunrties avai18ble al both Harvard and MIT, woikl-1e￿ILng urniversilps, without having to meet
the considerable Costs involved. Piesidenl Kennedy himself studied at Harvard. MITwas chosen alongside Harvard
because oflhe President's keen interest in seeing lechnologKaladvancesreflecled in ggvemrnenl and international
AffAir4
In Augus12023. all British unNersitie$ universty ¢olkgesw¢re notffj￿d oftheforthcoming Kennedy Scholarship
competition and advertisements were placed on a range of websites and media plafforms. The Trustees
have provKled. through the Tru$l'$ office, an advisory se￿￿e to those enquiring about Study al Harvard and MIT.
Applications were submitted online. through the Trust's website. and 154 appli¢ations were le￿iVed. In January
2023, 21 outstanding candhlales ￿re celled lo inleryiew. Eight aludcnl? w¢rc provi￿71￿￿01ty st￿ClOd to recove
scholarships.
Impact Reportlng
2093 mark•d th• 60," anniv•rsary of Pr•Gid•nl K•nn•drfs a$$as$ination-th•tr¥gic gv•nt th¥t l•d to th• foundation
of thè Kennedy Memorial Trust in 1W The Trust is prcllucing a ¢￿p1@henS￿e report charting thè Impad of ils
philanthropy over time, part￿ularlY in terms of the Scholars supported and their Contribut￿￿5 a¢ro$s a range c*1
profèssKinal I￿ld$, lo public lrfe. and auoss civil society. The ceport will be published as part ol the celebration8
Surrounding the 60th annve￿ry of the lirsl Schola￿ departing for Boston in 1966.
Equallty, Dlv•r81ty, and Inclu8lon
TheTrust is an educational chartyvthich seekslociferstho18rnhip opportunth'es aswdely as ￿sIble, r8cogni5ing
the transformative impact Ihal graduate edUCat￿n can have. To this end. the Trvsl tracks a number ol indicators
lo ev81uale the diversty of appI￿an¢S lo the $¢holarship programme and al drfferent stages of the sele¢lion pro¢es$,
and lo assess the effi¢acy of 11$ outreach in l&rms of attfacting appI￿ntS trom a broad range ol backgrounds within
the UK These measurea inGlude r•Ge. ethnicity. •nd gend¢r rf¢#lifit&tion. &$ wall Èa ir)dicotorts of tsocio cconomK
and educational background. The Tru51 doe5 not publicise dis89gre9aled inlormalion for those receiving award8
dug lo data prot￿lI0n conshl8ratK*ns.
A more extensive lon9rtudinal 8natysis of dNersity data (see appendixl shows that the Kennedy Scholar community
K5 rnulti-laceted and dNerse. wrth nearty a Ihlrd of Scholar¥ In Ih15 period identifyin9 as a racial or ethnic minority
within the United Kingdom. The scholarship community has also corne close lo gender parity in this period, though
women were unier-represenieo nisTori¢aity among Sèwea Scnoiars and stlll comprlse a minoiily of applibttiil¥
overall. There is still work lo be done encouraging more women to apply lo the Scholarship, and lo expand our
outreach among minority ¢ommUnrt￿S, but the trends in both respects are posrtive.
The Trust has limited data on slxial. ￿ontynt antl educAtnnal background. but it suggests Ihat over recent years
students from the state sector make up approximalety thirds of Kennedy Scholar Cohorts, compared to 90¥0 of
UK university stUdents1￿ent graduates as a whole. This may, to some extent, reflect dynami¢$ in the most
seleclNe UK universilie5- wh￿h enrol a relalivety highef pwcentage of privately educated students- from which
Ihp Trust recp.ive8 a rnajorrty of rts applThtions
The Tru8lee3 will ￿ntinue to promete the Kennedy Scholarship as an indusNe opportunity for graduates ol all UK
universities, and lo assess candidates holi51ically - Gon5idering their a¢adeM￿ and professional achievements,
their goals In pursuing further education at Harvard or Ml i. aclvefsrty they may nave overcome, ano their poteniial
to rnake a difference.

Kennedy Memorial Trust
Rèport of the Trustees
for the year ended 30 April 2024 (Continued)
Achievernents and Performance
Flnanclal Revlew
In 2023 most ol the Trust's assets We￿ transferred to knundi. ex¢epl lor a ￿m31nder invested in BlackRock's UK
Property Fund. Due lo the suspension of redemplK)ns lo this fund due lo rts illiquKI nature this fund remains with
Blackrwk. The Trust hopes to liquKlale and Iransfei its assets in thi5 hjnd in future.
The 2023-24 financial year has seen an inerease in irwne levels. the Tru$l re￿Ned donations and investment
ncome of 2024 £292.36612023." £231.7731. Due lo the expendrture lotsl expendrture in the year has fallen
10 £691,ti2ti12023'. £803,9811.
For the year ended 30 April 2024, the Twsl had a surplus £1.￿.027 ¢orroared with a bss of £415,875 for tho
yg4r•nd•d 30 April 2023. This r•fl•cts a largor9ain on inv4slmonls eomparod to last yoar12024.. Gains £1,995.187
2023.. Gains £156,339) even as nel expendrture wa$ l¢)wer12024." £399,160., 2023.. £572.2141. Excluding th8
inve51rTpnl gains. the Trusl ￿nGUrred 8 defKil of £399.16012023.' £572.2141 in the ye3r.
This year, Trustees supported seven new Kennedy Scholarswho started their studies in auiumn 2023, six ofwhom
$liJdi8d al Harvard anfl nne. whn stiJdi@d al MIT Th@y offw@d schdarshirj r￿n￿¥￿IS to Ihrep thlhpr Sti￿￿nIg frnrn
the previous cohort lo Complete their Courses Overall. the Trust provided fvll or partial support lo 10 Kenngdy
Scholars Studying in 202>24. They also 8UPPOrted one sUn￿eT Research Scts)larship.
The Trust offers a grant ol $2.500 for each ol the new Scholars lo travel wrthin the United Stales al th& end of the
aCadern￿ year, following an application process. The Trustees ask SchoLars to include a description and evaluation
ol their travel experience5 in their post-scholarshp reports. The Trust also provided financi31 support for a three.
day trip to Wo8hin9ton DC by currenl Scholars 89 an •nrKhm8nl 8CtNty.
Kennedy Scholarships ar& awarded in the eXP￿ts110n Ihat Scl)oL8rs will bring the beneftts ol thelr American
experience back to the UK.
Th• nurnb•r of seholarshps *￿ard•d •#eh y￿1 IÈ r•lat•d to aflordability Forelarity and eonÈi$t•ney in d•t•miinlng
affordability. the Trustees adopted a new spending policy In November 2022, which tskes account ol the value of
Ihe Trust'8 inveslrnents and luTrdraising income to generale a guideline budget constraint for scholarship
expenditure ea¢h year. Truslees reco9nise that K￿larShIpS a￿ funded from the investment portfolio. with the sale
0188sets covering the scholarship costs. This p)Iw is kepl under regular rev¢ew. Through 8 fundraising campaign,
the Trustees hope to ensure thal at ￿ast len scholarships per year can be susiainably supported in luture.
A lar9• propctrtion of the exwditur• wilhin the financial statthTh•nts is paid in U8 dolLars and then converted into
pounds for the purpose ol these financial slalement5. Movemenls In the exchange rale between the US dollar and
sterling can affect the slated results and, because ol these rnovernenls, the Trus( recognised a transaction gain Of
f.2.g62 12023" tr8rnsaction loss £7.4041 Tolgjl èxpèndrturè in the yèar amounted to £691.52612023". £803.9871.
Analysis of the expendrture 1$ shown in notes 4 and 5.
As shown in note 4, the Trusl incurred higher Ihan norn￿1 expenditure on the Runnymede Mernorial in 2023-24.
This was due to extensive repairs and cleaning of the memonal stone and surrounding stoneworks, recommended
following a condition report cornmissioned last year. Major works are ncm complele bul some additional deaning.
repairs, and maintenance cos15 may be reflected in next year's accounts.
Investment Policy and Perforniance
Amundi Asset Management acted as the Trust's investment adws&i and managed its funds for most of the 2023-
24 financial year. As noted atxwe. IheTrusl retsin$ an invesbnenl in BlackR<xk's UK Property Fund whi¢h il hopès
io Ilquloaie wheH IhJul¢Jty becomes avallabk.
There are no restfictions on the charity's power to invest. The Ffftan￿ Truslee, in consultation with the Clair and
Truytees. the ￿rforManCe of tho portlolio snd determiné% an 3ppropriat@ investrnent gtr8t

Kennedy Memorial Trust
Roport of the TnJstPP4
for the year ended 30 Aprll 2024 (Continued)
The year*nd investment portfolio value wa5 approxim*ety £18.04 million as of 30 April 2024. compared lo near
È18.46 million as of 30 April 2023 Thg Trustees continue to closety rnonitor tho Tftisl'q invp.qtmpnts xnd the wider
economic situation. and hopeto increasetheir invested assets ￿ fthurethrough fundraising as well as capital gaiAs.
For 2023-2024, the income retum on inveslrnents was 0.51 %12023.' 0.42 OAI. The total return, including ¢aprtal
gain5 W85 12.630h12023'. 0.93%). A5 expeeted, investment income continued lo decline from hislonc levels due lo
recent changes in thè Trugt's inv8slrnp.nt ￿rtIn1￿ ThiA rpllpr.IAI firstty. thè April 2021 transfer of investments
within BlackRock into an Environrr*nlal. Social. and Governance IESGI fund, in an accumulating rather than
d￿stributIng shai¢ cla55. Secondty, the Trust's February 2023 transfer of 83sels to Amundi LLC furthered this trerid,
as all shares held within the new portfolio are in an accumulating class. The expect&J transfer of the Trust'5
remaining BlackRock investmen15 is expected to reduce investment inco￿.
Both the inihal Iransferlo an ESG fund wthin Bl&kRock and I￿sele￿￿)n of Amundi 8$ Ihg Trust's new investment
mana9ers, refiect the Tru?t'a efforta to more con¥ciou?ty odvoncc cnvironmentsl BU6tainability and social
respon51bilty. alongside financial Cons￿erat￿)n5, in rts investmeThl strategy.
The ratio of US dollar lo G8P 51erling invesiments matched the ratio of an1￿1pated dollar and sterling expenditure.
Tru51ees recognise that share values can both increase and decrease. especially amid the current econornic
¢hallon90¢. The 1011owing tsble th• valu• of th• TTU8t'6 IlW•Stm•nts ov•rth• past 10 y•ors
11.RF11.qRfi
11,544.946
13,829,142
13.845.916
14,525,448
?020
2021
2022
2023
2024
13.692.832
16.852.908
16.865.088
16.463.683
18,044,488
2016
2017
201a
2019
R88grv•8 Pollcy
Th1* Tnjst's obj8cth.ve is lo maintain in petyuty Ihg Kenne0¥ Memorial at Runnymedè and lo llr8nt the
scholarships that bear President Kennedy's name Mindful of this, the Trustees seek to balan￿ the interests ol th&
Current and future benef￿larieS ol the Trust's wo￿. The number ol $¢holarships awarded gach y•ar is ra1aled lo
8ffordability and, as noted above, the Trustees have adopted a spending policy which sets out how affordability is
lo be catuial80 wh1ch takes accouni of ine vaiug of tne Trusi's Inve61menis ana fundralsing Incom¥ Iu U¥11¥1411e
guideline budget ¢onslr8inl lor scholarship expendrture each year.
Tho total funds a6 at 30 April 2024, includin9 Ca8h balancgs. $l•nd #t £18,475.15612023. r1R R79 1?91 Tni8tA*a
review the reserve annually when deciding how many scholarships lo award at interview. In January 2014, 0 risk
reseNe of £1,000.000 was agreed whth. lor Ihe yeaf lo 30 Apnl 2024, was upgrade¢ to £1,275.535 in line with
the Consumer Pru Index.
The Trustees arè eonfid8nl that the Trust rèmains a ooing cOn￿rn for the f￿e$80ab1e fvlure. After absorbing
significantly higher scholarship expendrture last year- due 10 8 lar9er than normal cohort including Scholars who
had been offered deferrals during the pandem￿ - schoL8rship expenditure returned to normal levels in 23-24.
Prq'eclions for 2024-25 scholarship expenditure a￿ well wrthin the affordability e51imales generated by the Trust's
new spending policy. and that poI￿Y rtsew will ensure the sustainabilty 01 SCh013rsnip expenLliiure pen(Jing launch
of the fundraysing camp8vJn.
As 3uGh. the Trustees take the view th81 the Icvel agreed its acccptablo in the currant oconomic climst•. It
significantly exceed5 the reserye needed for the long-lem obligation to the Kennedy Memorial at Runnymede and
provi(Ses an acceptab￿ risk reserve to manage unexpected and year-to-year variation5 in the Gosts of Kennedy
Scholarships. They plan on the basis that income received from fundraising will increase the resources available
lor Kennedy Schokrship5 $0 as to sustain the Tru51 in perpeluty.

Kennedy Memorial Trust
Report of thè Trustees
for the year ended 30 Aprll 2024 (Continued)
Future Plans
TheTruslees will continue lo disburse fijnds in accordan￿ with the goveming documents of the Trust and seek lo
ensure widespread awareness of Kennedy Scholarships within appropriate department5 of British universities,
university colleges and other places ol hgher education. They 81so seek lo reach prosp￿1￿8 applicants who have
already graduated through socol wjia and digrtal outreach.
The Chair ol Trustees. Sir Mark Walport, will step down in Juty 2025 afterfv40 fv11 lemis on the Board. Sir Mark has
given exceptional servrE to the Trust and the process to appoint his successor will begin in summer 2024. W8
expect a preferred candidate to be identrfth towards the ènd of January 2025. Once formal approval from the UK
Prirne Min15ter Is feceive<i. wè look lO￿ard io anr1ou￿In9 our new Chalr of Tw51£e5 in spiiiiy 2025.
Plans for a major fundraising Campaign are underway f￿h>￿Ing the r8crynmendathJns in 8 lea$ibilrty study by the
Halpin wirtnfjr¢hip. Thi$ tampaign is Int•nd•d to str•nylh•n the Trusfs invè¥tmÉtnt portfnln fnr thg. fiJ*iJrA Th8 Trust
is also intending to mark irnportanl UP¢LYning 60" anniversaries in appropriate and meaningfu1 way5, wtsrking
towards a celobratory year in 2026 to mark the 8Oih anniversary of the first scholars departing for Boslon in 1966.
10

Kennedy Memorial Trust
Report of the Trusteès
for the year ended 30 April 2024 {ContlnuedJ
Tru$tees' Responsibilities in relation to the financial statements
The CharrfcyTruslee5 are responsible for pwaring a trustees. annual report and financial slalements in accordance
with applicable L8w and United Kingdom Accounting Standards (United Kingdom Generally Accepted Account￿ng
pr￿tICe1.
Charity Law requires the Charity Trustees lo prepare accounts for each vear which aive a true and fair view ol the
state of affairs of Ihe Trust and of the incorne and expendrture of the Twslfor that per¥)d. In preparing the financial
statements the Tru51ees are required to..
select suttable accouniing polw and appty them consistenity..
observe the rnethod5 and principks in thè Chant*s SORP..
make judgments and estimates thal are reasonable and prudert..
Stale whether appliG8ble •cGountin9 Standards and State￿[It$ of ¢t¢tynm¢nd¢d praGtiGe have been
followed, subject lo any departures discbsed and explained in the a¢counl5',
prepare the financial slalemenls on the going-cortcern basis un￿SS rt 15 inappropriate to presume that the
Trust will continue in owration.
The Trustees are responsible lor keeping xcounling rec￿dS ¥th￿h di%cl)sewith reasonable accuracy Ihefinan¢ial
posilh)n ol the Trust and which enab￿ them to ascertain the financial position of the Twsl and ensure that the
accounts c(Nnply wbth the Charities Acl 2011 and Iru$l deed. They are also ￿Sponsible lor safeguarding the assets
of tho Tru¢t and h¢nco fortoking rcosonablo stepa lorth* pr#v¢ntiorb•nd deteGtion of fr•ud and other irre9ularilieJ.
The Trustees are responsible lor ihe maintenance and integrrty of the corporat& an(J finan¢ial inlomialion included
on the ¢harity'swebsile. LeOiS￿￿on in the United Kingdom wvemiThJthe Dreparth"on and d155eminalkin ol financial
$talemenl$ may differ from legyslation in otherjurisdi¢tK)ns.
Statèment as to dlsclosure to our audltors
In so lar as the Trustees are aware at the ijme of approwng our Trustees, annual report..
There is no relevanl information, being infomalpjn needed by Ihe auditor in connection with praparing thgir report,
ol which the charity's auditor is unaware. and the Trustees. hwng made enquiries ol felbw Tru51ees and the
charity's audrtor that they oughl lo have indwhjua1￿¢9ken. have each 18ken 811 steps that helshe 15 obliged lo take
as a Trustee in order to make Iheffoefves aware of any w￿aTht audrt infomation and lo establish that the auditor
ig £Morc of thot informotion.
By order ol the Board of Trustee8
Professor Sir Mark Walport
Chalrman
Dated.. 1910212025
11

Kennedy Memorial Trust
Indtspendent Auditoes Rtspgrt to th& Truatees
of Kennedy Memorial Trust
Opinion
We have sudiled the financial slalemenls of The Kennedy Memorial Trust lthe'charity'l for the year ended 30 April
?0?4 whirh ccsmpri.%p. Ihp. .EtAtFhmp.nt nf financsal ac.tivitip8. thp halAnp￿. <hp￿t xnd Ihp. nnt*g lo tho financial
slalemenls, including the principle accounting policie5. The financial ￿porting framework that has been applied in
their preparation is applicable law and United Kingdom Accounting Stsndards, in¢luding Financial Reporting
Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Irgland, (United Kingdom
Generally Accepted Accounu'ng Practsce}.
In our opinion, the financial statements..
oiv@ a IrLl& and fair viow of th& stato ol th• ch8rbty'g affairs as at 30 April ?O?a anrl of itq inrthm*. AA(4 Axr)AnrlitiJrA
for the year then ended.,
• have been properly prepared in accordance with United Kinotlom Generally Accepted Accounlino Practice..
and
have ken prepared in accordance with the requ1￿mentS of the Charities Act 2011
Basis lor oplnlon
We conducted our audit in acwdance wilh Inlemalional Standards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibililles under those slandards are further described in the auditor's responslbi11119s lor the audit
ol the financial slalemenls sectson ol our reDort. We are independent ol the charity in accordance with the ethical
requirements that are relevant to our audit of the financial slat&ments in the UK, including the FRC'S Ethical
Standard, 8nd we have lullilled our other 8th￿81 responsibilities in accordance with these. We believe that the audit
evidence we have obtained is sufficienl and appropriate io provide a basis for our opinion.
Concluslons relatSng to golng ¢on¢¥rn
In auditing the financial stalemenls, we have conclude(l that the Tru$leos' use of the going concern ba8is of
aGcounling in the preparation ol th? finanGial slalemenls 1$ appropriat&.
8ased on the work we have porformed, we have nol identified any malerial uncertainties rèlating lo events or
conditions that, individually or colleth'vely, may cast significant doubl on Ihe char¢ty's ability to continue as ¥ going
concem for a perk•d of al least twelve months from when the finanual stslements are aulhorised for issue.
Our responsibilities and the responsibilities of thè Trustees with respect lo going concom ar8 dèscribed in the
relevant sections of this report.
Other Informatlon
The Trustees are responsible for the olher infomalion. The other Infomiation comprises the information included
in the Repori ol the Trustees. other Ihan the linancial slalernenls and our audrtor s report Ihereon. Our opinion on
the financial slalemen15 does not cover the other information and. except lo the exlenl otherwise explicitly staled
in our report. we do not express any form of assurance conclusion thereon.
Our responsibility is to read the other information and, in tloing so. ￿nSider whether the other infomalion is
m21orially inconsistonl with the financial statom@nls or ovr kn4)wIFhdo• oht¥inpd in th￿ Allrtit nr nthp.nmgp Appp.ars
ID be rnaterially misslaled. If we identify such material inconsistencies or apparent material misstalements, we are
required to delermine whether there is a material misstalemenl in the fin8ncial slalements or a material
rnissiatemenl ofthe other informalion. If. based on the workwe have performed. we conclude thalthere is a material
rnisslatemenl of this other information, we are required lo report that fact.
We hav8 nothing lo report in this ￿gard.
Oplnlon on other matters prescribed by the Charities Act 2011
We have nothing to report in respect of the following maiters in relation to which the Charities Act 2011 requires us
to report to you if, in our opinion..
• the information given in Ihe Report of the Trusteos is inconsistent in any material re5pe¢t with the financial
ststernents., or
12

Kennedy Memorial Trust
Independent AuditoV¥ Report to the Trustee8
of Kennedy Memorial Trust (Contlnued)
• sufficient accounting records have not been kept: or
thè financial statements are not in agwment wilh thè accounting reeord¥ #nd rèturns.. or
• we have noi received all the infomialion and explanations we require for our audit.
Responsibllities of Trustees
As explained more fully in the Twstees. responsibililie5 5ts1emenl. the direGtors ate responsible for the pfyparation
ol the financial statemenis and for being satisfied that they give a true and lair view, and for such intern81 control
as the Trustees determine is necessary lo enable the preparation of financial 5talemenls that are free from malerial
misstalamÉ¢nt, whothéi duo to fr#ud or erroT.
In preparing the financial statements. the Tfuslees are Tesponslble for ass8$slng the charity's abS1ity lo conllnue as
a qoino concern, disclosino. as applicable. matters related lo going concem and using the aoing concern basis of
accounting unless the Trustees either intend lo liquidale the charity or lo cease operations. or have no realistic
altèrnative but to do $0.
Auditor's responsibilities for the audSt ol thè financlal statements
niir nbjftr.liveq ar& In nhtain rKtaqnnAhl•. 8%qiir8nr&. AhoLJt wh*.thAr IhFtfin8nr.iAI qlptpm￿n1< Aq A whnlp. Arg. frp.p. frnm
matèrial misstatemenl. whether (iue lo fraud or error, and lo issuè an auditor's report that includes our opinion.
Rtrasonabla assuran¢¢ is a htqh leve101 assurance, bul is not a guarantee that an audit conducted in accordance
with ISAS IUKI will always delecl a material misslalemènl when il exisis.
Misslalements can arise from fraud or error and are considered matarial if, individualty or in the aggregate, they
could reasonably be expected lo influence the economic d8cisions of users taken on the basis of these financial
s￿leMents.
Irregularities. including fraud, 8re instsnces of non.complianee with laws and regulations. We design procèdures
line with c)ur re$pon$ibililies, outlined above. io detect material misslatements in respectof irregularities, including
fraud. The exlenl lo which our procedures are capable of detecting irregularities, including fraud is detailed below.
Our approach lo idenlifying and assg$$ing the ri$k$ ol material misslalemenl in respect ol irregularities, including
fraud and non-compliance with laws and regulations, was as follows..
Ili¥ ¥iiyoy¥iii¥iil Vdiliiei tr11suied Ili¢il Ilie Viiy¢lyVlllell( Iv¢*lti wll¥Liiv¥ly liaLI IlIt* OVVlUVii¢4le
competence. capabilities and skills lo idgnlity or recognise non-compliance with applicable laws and
regulations.,
wo oblainod an undèr6tondln9 of tho 10901 r¢9ulotory fromcworko thtst ore oppli¢oblo to tho chority
and determined Ihal the most significant Irameworks which are directly relevant lo specific assertions in
the financial stalernenls are those Ihat rèlate to the reporting framework Islalement ol Re¢ommended
Practice.. Accounting and Reporting by Charities r)reparing their 8c¢ounts in 8ccordance with the
Financial Reporting Stsndard applicable in Ihe United Kingdom 8n¢J Republic of I￿land IFRS 1021 and
the ChaTilies Act 20111.
identified laws and regulations were eommunicaled wilhir¢ the audit team regularty ènd the team
remained alert to instances of non-compliance throughout the audit.
We assessed the su5ceplibilily of the charity's financial stalaments lo material misstslemenl, including obtaining
an understanding of how fraud might occur. by..
making enquiries of management 8$ to their knowledge of actual. suspected and alleged fraud.. and
considaring tha inlema1 controls in place lo mitigate risks of fraud and non-compliarice with laws and
f8gulations.
Tu LIIE ribk ur rriaud IIiiDUgh rnanagernenL bia5 and ov8tride of Gontyo15, we".
perfor￿ed arnalytical procedures lo identify any unusual or unexpecled relationships.,
tested journal entries lo identify unusual Iran5aclions',
a55essÈd whether judgemenls and assuwnptions made in delermiiiing Ihe aLwunting esliiiiates wei"e
indicative of potential bias.,
tested aulhorisalion Gonlrols on expenditure items, ensuring all expenditure was approved in line with the
charrty's finan¢ral procedures- and
13

Kennedy Memorial Ttust
Independent Auditorf¥ Report to the Trustees
of Kennedy Memorial Trust (Continued)
perfomied subslarbtive lesling on management expense daims and credit card expenditure.
In response lo the risk of irregularities and norFcompliance with laws and requlalions. we desiqned procedures
which included, bul were not limitéd lo..
agreeing financial statement disclosure5 to underlying Slspporbng documentation:
reading the Jninules of meetings of those charged wilh govemance-
enquiring of management as lo aciual and potential litigation and claims.. and
r•viowing any availablè corrè8pondèn¢o With HMRC and the charity's legal advisors.
There are inhèr$nl limitations in our audit procedures dgsrribe¢J abDv8. Th$ morg rèmoved that 18ws and
regulations are from financial transaclions, the less likely il is that we would become aware of non-compliance.
Auditing slandards also Iimil the audit procedures required to identify non-compliance with law5 and regulations lo
enquiry ol the director5 and other management and th• ins￿¢t10n of regulatory and le981 correspondence, if any.
Materlal mlsstsiemenis ihai aNse due io fraud can bg naroer ￿ sjeteci than tn08e tn8t anse trom error as they may
involve deliberate concealment or collvsion.
A lurthcr d¢tscription of our respon3ibilitl¢8 for th¢ audit of the finzlncial statements 13 IoGated on the finanoial
Reporting Council's website al.. www.frc.or
.uklaudilorsres
onsibilities. This descnptK>n forms part of our auditor's
reptsrt.
Use of our report
This report is made sol¢ly lo Ili¥ ilidiily't* Tiust¥¥>. L￿Jy. 111 ÈlLWILlorsLtr wiul Clidylvi 3 ul Ptail 16 ul Ui¥
Charities Ael 2011. Our audit work has been undertaken so thal we might stale lo the charity's mgmbers thosg
mallets that wè are required lo slate lo Ihem in an auditor's report and for no other purpose. To the fullest extent
p•rmitted by law, w• do not •¢e•pt or ¥•$um• r9$pon%ibility to anyon• oih•r than th¥ charity And th• charity'$
Trustees a$ a body. for our audit work. or the opiniong we hav¢ formed.
Dale.. 1910212025
Dunkl8y & Co Lirniled
Slalutory Audilors
Chart8r8d account8nls
Woodlands Grange
WuudldiidJ Ldii
Bristol
BS32 4JY
Dunkley 8 Co Limited is eligible to act as an auditor in lems ol section 1212 of the Companies Act 2006
14

Kennedy Memorial Trust
Statement of Financial Activitiès
forthe yearende(130 April 2024
Total
Unrastrict8d
Total
Unrestricted
Note
2024
2023
Income and endowments from:
Donations and lag8¢i*$
Investment Inco
207,643
84,723
156,849
72,924
Totsl Incom•
292,366
231,773
Expenditure..
Ch8ri18ble 8cl1vil￿$.'
Runnyrnede Memorial expenses
Graduate $ch￿ar5h1p$ and expensey
Scholarship application c051s
12,591
611,346
67,589
16,798
737.529
49,660
Total exp¢ndltur•
691.526
803,987
Net expendi(ure before gains on investments
{399,1601
1572,2141
Nel gains on inve51m8nts
1,995,187
1&fj,339
N•t Ineonw I l•xp•hdltur•l and n•1
movernent In funds for the year
1.596.027
1415,87SI
Reconclllatlon of funds:
Total funds broughl forward
16,879,129
17,295.004
Total fund# etsrrlod lorwaryl
10,475.166
16,879,129
The staternent of financial actwities includes all gains and losses recojnised in the year.
All incorne and expendrture derive Irorn continuing actlvrt￿.
The notes on pages 16 to 24 fom part of these financial Statem￿5.
15

Kennedy Memorial Trust
Notgs fomiing p*rt of tha financial statements
for the year ended 30 April 2024
Note
2024
2024
2023
2023
Flx8d assets
Tangible fixed assets
Investments
72,492
18,044.339
71.804
16,4S3,683
Totsl Fixed Assets
18.116.831
16,535.487
Current assets
Sundry debtors and prepayrrents
56.B42
77.413
Gash anoj bank balqnrxs
294,886
Total Current Assets
399.925
372,099
Llabllltles
Creditors. amounts falling dug
within one year
10
141.6001
128.4571
Nal curront assets
358.325
343.642
Not a$$ets
18.475,156
16,879,129
Flnancad by:
Funds of the charity
UnreslriGled in¢ome lund$'.
13
18,475,156
16,879,129
Approved on behall ofthe Trust￿5 on
T*lr
Professor Slr Mark Walport- TTU$tg•
Ms Tilly Franklln - Trustee
The notes on pages 16 10 24 fom part ol these fmancial statements
16

Kennedy Memorial Trust
Notes forming part of the financial statements
for the year ended 30 April 2024 {ConlinuedJ
status
The Trust was e5tabli5hed by the trust deed dated 4 Juty 1964 and amended 11 July 2CQ7.
AbGuunting pvliLie
The prinrApal EKcounling pol￿￿5 adopted, judgemenls and key source5 of estirnalion uncert81nty in the
preparation of the financk41 statements arè laid out ￿lOW..
Basis of aGGounting
The$9 financial stal&manls have been prepared for the yearto 30April 2024.
Tha finanrial slAlttm&nts hav(t bAAn i&nrt*r th* hiqtnrir21 r.t)nv&ntion with ilams initially
recognised al cost or lonsath'on value unkn otherwse stsled in the re￿vant accounting policy note.
The financral statements have been prepared in accordance th Accounting and Reporting by Charities..
Slalen*nl of Recommended Praclte applicable lo charities preparing their accounts in accordance with the
Financtal ReDorting Standard aDDlicable In the Unrted Kinodom and Reoublt of Ireland IFRS 1021 (Charities
FRS 102 SORPI. the Finan¢i31 Reporting Standard appluble in the UK and Republ¢ ol Ireiqnd IFRS 1021,
Ccmpanies Act 2006 and the charit￿SAC1 2011.
rhe charrty conslilutes a Publ￿ tenelrt enlity as ¢Jefrned by FRS 102.
The accounts are presented in sleding and are rounded to the neaTest pound.
Crftlcal accountlng estlmates and ar•as ofJudg•ment
There are no signifranl areas ol adjuslment or key assumpt*Jns that affect items in the financial slalemenls.
Wrth respect to the next reporting period, the most Slgnrficant ¥eas of uncertainty are the carrying value of
invactmont a66816 hakl by thè charity. which will dopond on tho porfommnco of inv8ttmonl markat6 and tho
investment income from these assets.
Golno concem
Th• Trustees haw gss8ss8d wh•th•r th• us• of th• 9¢ing ¢orwn 8$$umpth)n 1$ appropriala in praparing
these financial slalemenls. The trustees have made Ihts assessment in respect lo a period of one year from
the date of apprDval of these financral siaiements.
The Trustees are ot the opinion that there are no malerial uncertainties Telated to events or conditions that
MAY P.A%t *ionrfie.Ant dniihl nn th•. sjhilrty nf th* e.h#rity In *.hnliniJp A* A onirng ethnpfft.rn Thp Trii&tg.AR arg. nf th
opinion that tecause the value of assets held by the charity are very malerially in excess of the liabilit￿9 of
thè charity and the lèvel of commitments in r¥sp￿t ¢f grants approved tor prqects payable in luturt years.
Income
Income is recogni5ed in the period in wh￿h the Charity is entIt￿d lo receipt. the amounl can be measured
reliably and rt is probab5e that the funds will be received.
Income Is deferred only when the chanty ha5 10 fullil perfomHrKe Tel￿e￿ condiiions tselore becorning eniiiied
to it or Whe￿ the donor or fvnder has spe¢Ffied th* the in¢m * to be expended in a future a¢counting
period.
InconE comprise5 donation5. intere51 receivable and divhlend5 from listed investments.
Donations are recojnised when the charity has confirmation of bolh the amount and settlement dale. In the
event of donalions pledged but not receNed. the anKJunt is accru￿ for where the receipt 15 considered
probable In the event that a donation ig sut¥'ett to conditions that require a ￿Ve1 of perfomiance bpforp the
harity is entrtled to the funds. the income 15 deletred as noted above.
17

Kennedy Memorial Trust
Notes forming part of the financial Statements
for the year ended 30 Ap￿1 2024 (Cgritsriu¥d)
Inlere5l on funds hekl on deposr¢ B included when receivabb and thè amount can be measured reliabty by
the chaity,. ths is normalty upon notfficathjn of the interest pa#J or payab￿ by the bank.
Dividends are rwnised once the divhlend has been d￿lar￿￿ ar￿ rM)tIf￿l1on has been recewed of Ihe
dividènd due
Expenditure
Expenses are accounted for on an ￿cru8& basis.
ExpwnditurÉt 1$ onto thÉ*r& is a ￿￿￿1 or eonStrL￿ive d)ll￿tinTh In mAkg. A r￿yrn￿rt1 tf) A third r)arty,
rt is probable thata transfer01￿On0mlC benefitswill be required in settlement and Iheamountof the obligaty'on
can be measured reliabty.
All expendrtuie is accounted for on an xcnpls basis. Expenditure is comprised of direct costs and support
costs. All expenses. including 5UPPOrt costs. are allocated or appOrt￿ned to their aPpIThb￿ expenditure
headings. The classification befv￿en actNities is a5 follow5..
Expenditurè on r•isiThJ funds includes all expendrf<ure assc£ialed wfth raising lunds through the charity.
b. Expenditure on charilabk actNities includes all costs asscL￿ted wrth lurtheiin9 the ¢hantab* purposes
of the charity Ihrough the provi5k)n of ts charli8b￿ activrties Such costs are dwided be￿e&n the
upkeep ol the Runnymede Memorial. the grnduale scholarshp$ and scholarship application costs.
Support ¢osis. which ind(Kle govgmance costs. havo been alocated lo gfaduatg scholarship$ and
hokrship application costs.
Al èxpenditure is in¢l￿￿e of irreCovwab￿ VAT.
Cost•pportlonment
Within expenditure on charitable activities. costs are alkx8t8(I dirtttty eitherlo po$lgraduat8 scholarship5 and
scholarship applulion costs where p)ssible'.
a. Posl-graduale scholarship costs are Ihe unwsty fees and associated costs 10 5UPPOrt the sludeThl
throughout their sludies.
b. S¢holarship applKatK)n costs ￿mprIse of costs for processing grants and applic81ions. including
support ol ￿tUal and wtential applunts.
Costs that cannot be directly attributable lo eilher ol these act￿7110$ are apportioned on the basis ol the lime
spent by the Oireclor, wh￿h is estimaled at 67% on current posl-graduatè seholarships and 330A on
scholarship applicats'ons.
Tanglblo IIx8d assets
Tangibl8 fixad assèts ar• stated at cost less depreciation. All assets costing more than £500 and with an
expected useful life exceeding one year are ¢apital¢ed. Dep￿la1￿)n is provided al rates cakuL8led lo write
ON the fV51 IE55 e5tirnatEd resitjvdl v(Ilue uf <s>¥¥l tJv¥i Il¥ ¥xyrilvJ usvful ￿￿11￿117￿ lif¥ lullvws.
Office equipmenl
20%- 30% per annum C￿ cost
No depreciation is provided on the Runnymede Memorial. The land was gffted to the charity in perpelurty in
1%4 In memory of Pres*Jent John F. Kennedy. In VEW ol the nature of Ihè Mèmorial and its indefinrtely long
Useful lrfe. the Iruslees do not beleve Ihal 3 relK8ble valuabon can be placed on the land. The book value ol
the memorial shown al 'c051' a5 rt 15 not eonsideied lo have been impaired. Since the charity is responsib
for keeping the rnerTh)rial in an un¢poitt ¢I)n￿￿On. tho ¢oèts ol doin9 60 are written off as and when incurred.
18

Kennedy Memorial Trust
Notes forning part of th& financial 4tatÈments
for the year ended 30 Aprll 2024 {continu￿j
Investments
Listed invest￿entS arè a forn of bas￿ fina￿1￿1 instrument and initialty rv.ThJniqpel k)t their transaction
value and subsequently measureil al their fair value as al thè balarr2 Sheet dale using the cbsing quoted
market price.
The charity does not aequiie put W*)n$. derivatives or other finanual inslrumenls.
Realised gains lor losses) on investrnent assets a￿ calculated as the drfferen￿ between disposal proceeds
and their opening carryin9 value or their purchase value rf acquired subsequent to the first day ol the financial
year. Unrealised gains and losses are cakulaled as the dilferen¢e between the lair value al the year end and
their carrying value al Ihat date. RealLsed and un￿aliSed investment gains lor losses) are comblneo In ih
statement of financk81 ￿t￿rtIeS and are credrted lor debf¢edl in the year in which Ihey arise.
The main fomi offinanaal risk f•Ge<l by the charity ia thel of vobtilty in oquity markot¢ gnd invo8lm•nt rn*rk*ts
due lo wider economic ¢orYlilions. the attitude ol investors lo invesimenl risk. and changes in sentimènt
concernin9 equities and wrthin particular sectors or Sub sectors.
Debto
Debtors are r8cogni%ed 81 the seltlemenl afflounl, Jess any prOWs￿)n lor nOn-re￿arabl1ity. Prepayments are
valued at the amount prepaKd. They have been discount&J to Ihe prèsent value ol the future cash rtr¢èipt
where su¢h discounlina Is material.
Cash at bank and In hand
Gash at bank an¢J iri Iiaiid ieyiexyil> bu¥li and inotru¢n*nls that are Jv•ilabl¢ on demond trr havo a
maturty of less than three months from the date of wuisilion. Deposits for more than three mnlhs but Sess
than one year have been disclosed as short4erm dep05ts. Cash pl￿01 on deposrt for more than one year
is disclosed as a fixed asset inveslmenl.
Ci¥dl¢vis aiidpm¥lJlon¥
Creditors and provisions are recogni%ed when the￿ is an obligallon at the balanee sheet date as a resull of
51 Pa81 (Iv8nt. it is probable that a transfer ol economi¢ benefil will be requi￿￿ in s8ttlemenl, and the amount
of the $9tt5ement can be estimated relrably. Credrtors and provBK*ns are recognised al the amount the charity
anlicipales rt will pay lo Sett￿ the d*bl. They have begn discounted lo the presènt value ol the futur8 cash
payment where such discounting is material.
Fund accountlng
Unr86trictod funds.. th•s• co1￿￿6• Ihe ¥c¢umulated excess of inr.nnw. nvp.r pxpp.nditurè on the Statement ol
Financial Actwihes. They are available for use 8t discrth.on of the Tru$t88s in lurtherary￿ of the gener81
objective5 of the Trust.
Forefflgn ¢urrency
Foreign tUr￿neY transaciTon$ a￿ Ir8nslated into 51erling at the rates ruling whèn they otcurred. Foreign
curiency monetary assets and liabilrties are tf8nslaled at the r8tes ruling at the balanea sheet dales. Any
drfferences a￿ taken to the Ststemènt of Financ￿1 Actbvi¢ies.
Tèxation
-tcrcd charity and *herèforo ss nol liabkn to ineome tax or corporation tay
The Kenne¢Jy Memoriel Trust 13 a rcgi-
on ineome derived from ts charrtabl¢ athvrt*s. as (( falls wtihin the various exemptions available lo registered
charities.
19

Kennedy Memorial Trust
hlots$ fom)Inu part of the financial ststèments
for the year ended 30 April 2024 (Continuedj
Leased assets
Rentals applicable to operabng leases whÈie substantially all of the beneffts and risks of ownership remain
with the le&sor are charged to the statement of financial aciNit￿ on a straNJht-line basis over the lèm of the
lease.
Penslon eontrlbutlons
Contribulions to the personal pension schemes of the charity's empw a￿ charged to the statement ol
financial activities when they are payable to the scheme. The assets ofthe scheme are administered in a fund
which is independent from the charty.
Investm•nt In¢om•
2024
2023
Dividends- UK IBted investments
Dividends- US ltsled investments
Interest. UK fixed interest securibe5
Int•rKt on cash d•pos*É
18,560
62,676
71,847
3.487
1,077
84,723
72,924
Runnym•de M•morfal Exp•n¥
2024
2023
Annual maint8nanc8
6,958
6,442
Fwlpalh l Monument repair8
6,636
10,356
12,S91
16,798
20

Kennedy Memorial Trust
Not•s forming part of thg finaneial statements
for the year ended 30 April 2024 (Continued)
Analysis of charitable expenditu
Post
Scholarship
Application
Costs
Oiaduale
Scholarships
Tot•1
2024
Total
2023
Unversty and 6tipend f
st￿lent travel and expenses
Summer research scholarships
Programrne support costs
468.990
26,699
14fifi
19.101
7,598
29,543
2,413
15.365
17.700
8.002
25.702
521.391
668,787
Staff costs
Premi8es costs
AdministratK)n costs
Exchanofi loainsl I losses
Contributions Frank Knox
27,851
3,531
84,397
10,701
4,737
12.962
75,470
11,534
4.463
7.404
7,170
3,174
11.9851
19771
16.080
48.825
16 080
64,905
7.920
24.048
7.920
24,000
72,873
22.Q09
75.962
22,909
Cost mel by specffic C￿dith)nS
Govornance Costs
A¢countancy
Audit lee
Le9al and professional
0,395
5.146
29.190
3.130
9,J45
7.680
9,205
7,492
2,774
14.337
Total costs for year
678 935
787 189
During the year 10 scholarships wwe awarded12023.. 101. 8 wrth full liabilty IOT luilion and health insurance lee$
and with partial liabilrty due 10 a school-based tuition awafd. The8e awaids amo¢Jnted to ￿16.462 or £330.e18.
Followinq means tèsting. lull stipends of $28.IXJO 1 £22.032 lor IIv1ng expenses were awarded lo 6 scholars. Iln
2023 10 scholarships were awarded." 9 wilh lull liabilrty lor luilion and health insura1￿ fe8s lincluding two partial
scholarship r8nèwalsl, and one wrth partrdl liabilty due to a schwkbased tuition award. 3 Scholars received full
stipends of $27.250 1 £22,136}.
21

Kennedy Memorial Trust
Notes forniing part of the financial ststemènts
for the year ended 30 April 2024 (Continued)
Analysis of charitable expenditure- CompaTrtive 2023
Post
Graduaté
ScholaTrhips
S¢holarshlp
Application
Costs
Total
2023
UnNer5ity and slipend fees
StLKlenl travel and expenses
Summer research scholarships
Piogr8mma support costs
621.466
24.710
2.413
9,610
621.466
29.543
2.413
15,365
4.833
5.755
914.561
10,588
668 787
Staff costs
Premise5 Costs
Administration cos18
Exchange Igainsl I bsses
Contributions Frank Knox & FulbrHJht
Scholars
50.565
7.728
2.989
4,*1
24,905
3.8(XS
1,474
2.443
75,470
11,534
4,463
7,404
50.894
15.349
25,C68
75,962
Cost r￿1 by specific Cond￿￿n$
98,871
Govemancg Costs
A¢¢vyiitancy
Audit lee
Legal and profes8KJnal
0.200
5.020
1.859
),057
2,472
915
9.265
7.492
Total costs lor year
737.529
787 189
22

Kennedy Memorial Trust
Notes formiho part of tho finantial 4tAtpmènts
forthe year ended 30 April 2024 (Continuedl
Truste&s and employees
The Btaff etstste of tho Trust are sh¢y4m gbovg in notè S. The avw•Je numbor of ftill timg. ￿llIVAlr>nt
employees in the year was."
2024
Number
2023
Number
Administration
One empltyee 8arned bètween £60.000- £70.OLX)12023'. One employee earned lessthan £60.000. Thg Tmsl
made pensKJn conlribulDns on behalf of the employees of £7.62412023.. £13,079).
No Tru51ee wewed any romuneratv)n in erther year.
Two Tru$leès had expenses of £3.214 reimbufsed in respect of travel. accommodation and subsistence.
12023.. One Twslee was reimbursed expenses lolalling £3351.
Th8 key rnanagemenl peisonnel of charty in charge of directing and controlling, running and operating
lh8 charity on a day-ttrday basis cornpri5e the Twustee5 and thtr Oir8clor.
Tgtsl Temuneralion lo kèy management Pe￿nn•1 fr)r Ihg year was £64.18312023.. £73.4341.
Flxed ass•t8
Runnymedè
Offl¢a
Memorfal
equlpment
Total
Cost
Al1 May 2023
Additions
71,178
1,042
991
72,220
991
30 April 2024
71,178
2,033
73,211
Depreciali¢yJ
At 1 May 2023
Charge lor the year
416
223
416
223
AI 30 Aprl 2024
639
639
Nel bwk value
At 30 April 2024
71,178
1.394
72,672
AI 30 Ap￿ 2023
71.178
626
71.804
23

Kennedy Memorial Trust
Notes fom)ing part of the financial statemènts
for ine year ended 30 April 2024 (Continued)
Investments
2024
2023
Market value at 1 May
Additions
Disposals
Rè31i69d gain6
Nel unrealised investment gain I Ilossesl
Cash (Jeposll movewEni
16,463,683
16,865,088
43B.775
16.108,177
1853,3061 116.662,7821
02,262
J29,010
1,912,925
1173.2791
13.1391
AAarkgt valu• al 30 April
18.044,339
16,463,683
The valuation 8130 April 2024 comprises".
Inv&slmenls listed on a wnised St￿k Exchange inc￿(￿n9 unil trusts
2024
2023
UK listed investments- managed fvnds
Uverseas- managed funds
Cash deposits
602.666
17.441,822
Iq491
640.667
15,823,165
11491
18.044.339
16,483,683
Tha following investments comprise nijre than 5% of the v81ue of the ltstal portfdio..
2024
2023
2024
2023
BR UK Property
AMUNDI ESO QLO8AL LOW CAReoN
AIS US CORP SRI IHG D
AIS US CORP SRI IU C
602.666
12,300,87e
1.907,888
3.233,058
640,667
11,093.712
1,623,204
3,106,249
OT
10
10
18
Sundry debtors and prepayments: amount falllng du• wlthln one year
2024
2023
OihEr dEbt015
Prepayments and accrued income
5L,211
4.631
15b,214
11,139
S6,842
77,413
24

Kennedy Memorial Trust
Notes foming part of the financlal statement
for the year ended 30 April 2024 (Conllnued)
10 Creditors.. amounts falling due wlihln on& year
2024
2023
Other creditors
Tax and s￿187 security
AccruaL% and deferred income
3(
1,742
39.552
26.105
41,600
28,457
11 Pen$itsn$
Th¢ Trttst pays Gontribution? to employ¢ea' indNidual pension polic￿. Thc poli¢ic= provido for benefit6 on a
defined ¢onlribulion basis and the assets Ltnderfyirtgeach policy are held by the pension providor. The pension
c¢sl charge represents the contribut￿nS payab￿ by the Tw$¢ and amounted to £7.62412023'. £13,079).
12
Unr•slrlct•d funds
Reali5ed and
Balance
Balance
Unrgal18ed
1May
30 Apr51
2023
Incom• Exp•ndltur•
Investment
Galns
2024
Unrè51ricled lunds
16,879.129
292,366
1691,5261
1,995,187
18,475,156
13 R8lat8d Party Transactlons
Dunno the year, Ihe Tuixen Foundat￿In. ol whth Dr Peter EnglaThJer is o trustee, donated £25,000 to ihe
charity12023.. £25.CI)01.
During the year, the chanty receNed donations Irom Trustees amounting to £37,20012023.' £35,2cK)I.
There were no aff￿untS outstanding at the yearond {2023- Ènill.
25

Kennedy Memonal Trust
Diversity data and Ststisti¢al Report on the 202>24 Kennedy Scholarship competttlon
Dlversity data and Statisti¢al Report on the 2023.24 Kennedy Scholarship cornpetition
The Tru5tee5 pLgce a strong emphasis on eqvalty. dNersty and irtlusion IEDII In the Kennedy Trust'5
activities. To morlrtoi equalty, diversrty and i1￿luSIon in the Kennedy Schd8rship selection process,
Ihev have since 2010 recorded data on gender and ethn￿lty across the 8pplicant pool and as selection
progres5e5. Since 2017. educational data has also been recorded. including type of school attended
and wh•th•r or not an applicant is a first-9en•ratw)n univwsty stiidpnl Thp. Trijqt xl&n rp.cords data on
eligibility for Free School Meals 81 s¢hwls attended by inter¥ivw candidates. as an indicator of
SOCIO8EOnOmt disadvantage. Thi5 data is Gollated an￿ymouS1Y and evaluated each year.
Summary anatysis of that data from Ihe compelit￿n de￿￿nStrate$ Ihal the Kennedy Scholarship
communrty has become more dwÈrse in temis of gender and ethn￿ origin. In lerms ol socioeconom
dwersity. rt 1$ nK)rè difficult to draw conclusions given ihe shorter tsmelrame of dala available,
Nuiiethele55. this data show• sKJnificant representotion of first%ener81ion studen13, in porti¢ular, within
the appli¢ant pool and among those selected as Kennedy Schokirs.
11 should be noted that the cohort of Kennedy Scholars setected each year 18 impacted by admissions
decisions at Harvard and MIT. which a￿ oulside the control ol the Trustees.
The Trust dc*s not record data acr055 the applKanl pool on other proMed characieri$lics such a8
religion or belief, sexual orientation. ordisability. TheTruslee5 a￿ confident, however. that the selection
process 8nd contemporary Kennedv Scholar community is incluswe 8nd diverse across these
characteristic$. The Trust has supported several ScholaT5 across Ihts period who have physical
disabilities or Chron￿ hèalth condrtions, for exary)le. These Scholars have offered to sèrve as an
advisory group lo future Scholars with disabilities in navy8ling the services and Support available
8¢ H8rvar¢J ano MIT. and io enhance th? Inform¥lK>ri t1￿ Tiu¥l ￿[1 yiu¥iU¥ Iv auGh ￿￿￿￿nts.
The Trustees recognvze that the commrtrrEnt lo EDI extends btyond the Kennedy Scholar community
to the Trustee body and the Twsl'$ wtyjer aclNrtv8s While the Truslees do not control appointments lo
the Board. Ihey are ccffjmitted to encouraging a dNerse range of eandidales lo consider becoming
Tiu¥lg¥¥ #ila lu ¥uyportin9 diYffis*y throu9hoyt the v•ryirt9 appoinlment Proc￿￿¥ that apply.
Gendor
46% 01 K8nn8dy schola￿ s818cledsHJce 2011.12 ore wcThn.
In Ihal limefr8me, Ihg proport￿ 018pp1Kal￿nS from ¥%￿Men h8$ avetsged 38%.
Women h8ve Compnsed maprilies in seven ollhe p8$1 fourtggn SclK)larcohort$.
Over811, women make up 34Yo of Kennedy Scholar 8lumni12021589), reflecting 8 higher
proport￿ w mai& &cI￿la￿ In Ihe Iwsts &ah￿ra￿ad&S {196fv0T onw8rasi.
As the above headline 51alist￿ suggest, there is sorne gender disparity in overall appl￿￿￿￿9 to the
Konnody Scholarehip, but Ihis is not conÈtst•ntly r•fl•ct•d throughoul th• $91gction process Thp Trii<l
has ma(le progress towards gender equity. parti¢ularty since 2010. awarding significantly m
schokgrships to women cOMpa￿d lo histor￿81 rales. The Trustees will continue lo explore ways to
en¢oLJrage and support female appI￿nIS. and bel￿ the incfeasing visibility of women among its
alumni community will further encourage this tsen¢J.
Race and ethnicity
The proportion of ethn￿ minority appI￿nIS and has shvwn an ypwwd trend and this figure wa5 45•
in the rnosl recent Kennedy Scholarship compelitKJn lfr)r 2023-241- the highe51 prow)rtion of ethnic
rninority applicanls since the Trust began recording this data.
The Trust is proud of the increasingly dN¢rse communty of Schc4ars receNing its awards since 2010,
and of il¥ reGord of attracting gtrong appli￿t￿n3 frorn tscro--
drffcrcnt comrnunitieE and r￿10Th$ in the
United Kingdom. W)ilelhe Trust does not hold hislorKal dats on race and elhnicty, the Trustees believe
the contemporary Kennedy bchoiafship communrty Is mre refieaNe of tne raclal an¢ eihnlc ¢wersity
of modern Britain. They will Continue to work lo encouraqe dNersrty, to support appli¢anls from diverse
backgrounds, and lo work wrth alumni lo expand OLrtreach in minonty ¢ommunilYès.
26

Kennedy Memorial Trust
Diversity data and Statistical Report on the 2023-24 Kennedy Scholarship competition
Sociiy8conomlc Diversity
On average since 201￿20. 47% Olap￿tiCanlS attended tXyW)￿henSN8 Sch￿1. and 16%
altend&d selectN8 slate Sch￿Is. In th￿pe*l￿. 29% 01all￿￿an1& c¥1 8V8r8ge. w8r8 fits1-
generalti)n university sludent$.
Tne Trustees recognise thai schcd type. free scnw rr￿1 aata. ants wn￿ner appiicanis are firsi-
oeneralion universrty students, are not exa￿ indicators of an indmdual applunl's socio￿onOMiC
stslus. Nonetheles5, the Trustees bel￿e Ihey provide a sense ol educatk)nal and economr advantage
or disadvantagewrthout requiring intrusive questions in tha Trust's ap￿￿tioN procèss and tha r8sullant
need to handle sensi¢Ne individual dats.
The Trustees will continue lo promote the schoLarship as an inclusive opportunity to graduates ol all UK
univer511ies, and to find ways to reach a wder prosFective applicant pool who may not have considered
th@ tr￿n￿rIt4 tyf ¥ graduate •dvcation in the US- through sccial media and oulreach via social mobilrty
org8nis81ions. The generous funding the Kennedy Schc4arship prowdes, moreover, makes graduate
opportunities lea5ible lor those wthoul personal resources. and the Trust is wmmrtled to providing
stipends lo ¢ov&r th& living costs for Sludenls who coukl not othemse aflord to Supp￿ Ih&mselv&s.
27

%%
l*•%*X¥
X%%-%*X•
11SI%II*xR
tss£s*:$
***
***
e¥lili

KMT 2023-24 Trustee Report and Financial
Statements Final
Final Audit Report
202￿2-19
202￿-17
By..
Status."
Tr￿$3¢￿￿7 ID".
CBjCHBG4￿lY1lWFNzabEWy1*F1nN1O¥xEN.
"KMT 2023-24 Trustee Report and Financial Statements_Final"
History
Docurngnt created by Tim Farrow-Hou89 ltim@kennedytrusl.org.vkl
¥1?￿n?-17- 5'rffi'?o PKI r?UT
-* Document emailed lo Sir Math Walport Imath.walport99@gmail.c4Jml for
202￿￿￿17-s..0￿..zo PU Ok4T
. Do¢um8nt emailed lo Tilty Franklin ltilly-fvanklin
202>02-IF. S..08'.26 PM GMT
u(am.co.ukl lor ¥9nature
Emall viewed by Tilly Franklin Iblly.tranklin
202M2-18- 11'.14'.54AM GMT
utsm.￿.ukI
Do¢urn8nt e•s￿ned by Tilty Franklin ItiUy.frankJin
ucim.cJ).uk)
Slgn8lLY¢ D•te'. 202&02.18. 11."15."33MI GMT-Tknb Stsrta..
Email wewed by Sir Mark Walport 1mark.walpor199@gmall.c￿7l
202M2-19-9'.31".10 GMT
Documant Owsigned by Sir Mark Walport Imath.walpor199@gm811.eoml
s￿nal￿e Lknte.. 202&02.19.9..32."46 GMf.mrne ScAwt*'.
Ag1v¢Tn￿11I Luriiplvlv¢J.
202&02-19-9".32..46fvM GMT
IJ Adobe Acrobat S