Duchesne Trust
Report and Accounts
1 January 2024to 31 March 2025
? 884()7 (l-.Iigyl,IllLI <illcl XK',IlL'%)

Contents
Reference and administrative details of the Group...............-.........
Trustees, report.
Charitable projects involving members and friends......................
Administration of the Society of the Sacred Heart Life and Mission.........26
Trustees. Biographies .
.35
Statement of Trustees, Responsibilities....
Independent Auditor's Report to the Trustees of Duchesne Trust............41
Accounts...........................
..44
.15
40
Accounting Policies.
10. Notes to the AG¢ounts.......
.50
.57
Wewant to make a genuine effortto bringabout a morejust
distribution of the world's resources, in solidarity with allwho
suffer.
We build communion wlth them by setting aside our own
interests,
by givlng, without seeking reward or gain, by sharing at every level
in the Society and by depriving ourselves for the benefit of those
who are
in need of everything.
We can do this if we are prepared to take the permanent risk of
choosing a way of Life consistent with our option of solidarity with
the poor and opressed
Const. 5170-1715

References
i. Reference and administrative details
ofthe Group
Registered Office
Investment Managers
BNY Mellon Wealth Managemenl
200 Park Avenue
Newyork, NY 10166 USA
9 Bute Gardens
London W6 7DR
Contact
Credit Suisse
One Cabotsquare
London E14 4Ql
Sr. Paula Gruner
Email.- p.gruner@rscjroma.org
Website= www.rscjinternational.org
Goldman Sachs Internation8l
River Court 120 Fleet Street
London E14 4QJ
Trustees
Sr. Barbara Helen Dawson IretireL112112120241
Sr. Claire Pierrette Marie Castaing Ichair since Investec Wealth & Inve$tment Llmlted
121121241
30 Gresham Street London EC2V 7QN
Sr. Marie J. Elonga Abompi (retired 221041251
Sr. Monica Esquivel Ballesteros (retired 221041251 Schroders & Co Limited Icazenovel
Sr. Anne Marie Loyola Corry Iretired 17104120251
12 Moorgate London EC2R6DA
Sr. Catherine Anne Lloyd (appointed 231091221
Sr. Maria Georgina Zubiria M. (retired 01112120251 Charltles Property Fund
Sr. Francisca Rodriguez (appointed 221041251
Savllls Investment Management
Sr. Paula Gruner (appointed 01112120251
33 Margaret Street, London W1 G OJD
Sr. Noellina Nambusisi (appointed 22104120251
Sr. Sheila Smith (appointed 221041251
Auditor
Custodian
Haines Watts Swindon Llmlted
Chartered Accountants
Old Station House
Station Approach Newport Street Swindon SN1
3DU
BNY Mellonwealth Management
160 Queen Victoria Street
6th Floor
London EC4V 4LA

Trustees, report
2. Trustees, report
Thetrustees present their report and the audited group accounts of Duchesne TTUSt Ithe"Trust
or the"Charty"I for the financial period from 1 January 2024 to 31 March 2025.
Thes8 group accounts consolidate the results of the Duchesne Trust and the entity it controls
being the Society of the Sacred Heart Generalate Ithe Society and the Motherhouse).
The accounts have been prepared in accordance wtth the accounting policies to the accounts
and complywiththech8ritysgoverningdocument, theChariliesAct2011 andAc¢ounting8nd
Reporting by Charities: Statement of Recommended Practice ISORPI "Accounting and
Reporting by Ch8rities" IFRS 1021 applicable to charities preparing their accounts in
accordance with the Financial Reporting Stan(lard applicable in the UK and Republic of
Ireland.
Our purpose
To promote the
charitable work carried
out or supported by the
members of the Roman
Catholic Religious Order,
the Society ofthe Sacred
Heart
Strategic objectives
Implementthe process
of reorganization of the
Society's membership
and its public benef it
activities through 4
apostolic priorities-
Education. JPIC (Justice,
Peace and Integrity of
Creation), Spirituality
and Formation of
religious and lay people.
Report lor the period from 1 january 2024 to 31 March 2025

Trustees, report
2.1 Aim (Objects) and Pl￿poSe
Governance
The Duchesne Trust is regulated by a Trust Deed dat8d 14 December 1983. The Trust is
registered wf£h the Ch8rity Commission for England and Wales - Charity Registration No:
288467.
Principal Aims
The trustees of the Duchesné Trust aim to promote th8 charitable work Carried out or
supported bythe membars of the Rom8n Caiholic Religious Older. the So¢iety ofthe Sacred
Heart. When setting the objectives and planning the work of the Charity for the year. the
trustees have consideredthe Charity Commission's generaiguid8nce on public benefit.
2.2 Objectives and Strategies
Charitable Objective
TheTrust existsto promote anyolthe charf(abie works carried out, or supported by.the Roman
Catholic Religious Congregation known 88 the Soclety of the Sacred Heart (the Society}.
Specifically, it funds activities associated with:
The worldwide admlnlstration ofthe Society, through rnembers of the Generaiate
supporting provinces and communities of the Congregation. In order to provide
leadership and to strengthening the charism and spirit of the group-
The administration of a f und tor solidarity. where projects involving members of the
Congregation support and educ8tè vulnerable groups who live in poverty- this is
often directed towards youth and educatlon, health (special needs and HIVIAIDSI,
people on the move, and children and wornen in vulnerable Situations:
The administration of 8 fund that guarantees the sustainabillty of the life and
mission of the Society in the future and which. for some provinces, is already a
reality- financial support for the 8UStenance of the sisters. both active and retired,
in their daily needs, their initial and ongoing formation, the care of the slck and
81derly. their capital projects and their apostolic charitable minlstry. The General
Chapter 2024 made 8 decislon thatthe Superior General and her Council approve
the incorporation of new prlorlties in the Sustainability Fund.
Strategies
In the financlal perlod from 1 January 2024 to 31 March 2025, the Duchesne Trust. whTle
continuing to support the charitable activities of the members in a worldwide context.
epori lor the period from 118nuary 2024to 31 March 2025

Trustees. report
supported the process of internal reorganlsation thatwill involvethe creation of eightterritorial
entities grouping the current 27 Provinces or Districts. In August 2024 the Gener81 Chapter
approved the establishment of 8 new provinces. This process is expected to be completed by
December 2027.
The governance of the new entities will be defined bythe SuperiorGeneral and hercouncil and
Advisory Council compoyed of one member from each new provlnce. in accordance with the
Constitutionsofthe Society 8s well as wrth the decisions and recommendations presented by
the General Chapter 2024 emph8sizing the importance of defining, on the basis of existing
educational, humanitarian, Teligious and charitable activities. howthe Apostolic Prlorltles can
play 8 C8ntral role in the creation of the new provinces.
The Apostolic Priorities
During2024thetrustees in agreementwiththeGeneralSuperiorand hercouncil, andwiththe
collaboration of the Internation81 PL8nning Commission of the Society, continued to support
the strengthening of four Apostolic Priorities which were confirmed by thè Chaptor:
1. Educatlon
Any process through which learning is exchanged, experiences are shared. and skills,
knowledge and attitudes are developed, transmitted and acquired. involving children. young
people and adults. All this in the context of formal education. popular education, socio-
educational projects ané edu¢ation81 p8StOf81 care.
2. JPIC {Justice. Peace. Integrlty otcreation)
Thè group has a finn commitment to a world that needs justice. pe8ce and care for creation.
which impels it to act in a transformative way, especially in situations of particular
vulnerability. This approach, full of passion, hope and ener8y, drives members to be better
informed and trained on the interrelationships between the Ioc81, regional, n8tion81 and
international levels, in order to collaborate more effectively towards structural and systemic
change. This is one way of responding to four Imperatives of our time: addressing power
relations: working for transformatlon and being transformed: caring for our common home;
and welcomingihose who seek refuge and hopefora betterfuture.
3. Spirituallty
The religious voc8tion of the members of the Society Sustalns their choice to give priority to
spirituality by helping others to deepen th6ir interiority and encounter with Jesus. to become
sensitive to his presence in each person, in othors and in th8 world. This priortty becomes life
by strengthening the contemplative dirnension through the accompaniment of retreats.
spiritual direction, p8Stor81 work. evangelisation, etc. At the same time, the group lavours
eport for the period from 1 January 2024 to 31 March 2025

Trustses, report
opening spaces, in dlverse contexts. in which the panners in mission. and many Laysisters and
brothers, can explore. develop and express thelr splrituality.
4. Formotlon of roiigious and lay people
"Adapted to the capabilities of each one and directed towards respondingto the challeng8s of
the world. formation envisages the development of our spiritual, human and apostolic life.
{Const. 721. Fostering spiritual. human growlh and apostolic lrfe at every level- in the context
of initial and ongoing formation of RSCJ. formation with our lay partners for mission. for the
transmission and sustainability OT our charism. for leadership and processes of change and
transformation.
The General Chapter 2024 un8nimously confirmed the four apostolic priorities of the Society
unite the members in living the mission today and expressed its desire to respond to the need
of young people through them. Consistent wf(h this choice the General Chapter decided that
the Superior General and her Council approve the incorporation of new priorities in thè
Sustainability Fund to cover the needs of life and mlsslon.
Since September until the end of thelr mand8te on 12 December 2024, the leadership team
and the trustees were preparing the transttion process guided by the Chapter's decisions. Th8
new leadershipteam started its mandate on 12 December8nd thanked allthe anim8tionwork
done bythe previous team. The new Superior General, Sister Claire Castalng. joined as trustee
onthe 12 December 2024.
eport for the period from 1 January 2024 to 31 March 2025

Trustees. report
2.3 Structure, Management and Governance
Govemance
In terms of Canon law. the Society is governèd at an international level bythe Superior General
and her Gener81 Council. The General Chapter of the Society. which is held every eight years.
elects the Superior General and the Superior General then chooses the General Councillors.
The Sisters are chosen for their personal qualities. their understanding and experience of the
ministrles of the Sisters thioughout the world. and to secure a good skills mix.
In tenns of Civil law, the Charty is governed by a Trust Deed dated 14 December 1983. The
Trust is registered with the Charlty Commlssion for England and Wales - Charity Registration
No: 288467.
In 2024, the trustees devoted time. work and resources to updating the Du¢hesne Trust's
bylaws. With the support and advice of solicitors from Stone King LLP. the Board of Trustees
made the decision to establish a Charitable Incorporated Org8nis2tion - Duchesne Trust CIO.
Working together they prep8red the Deed of Constitution. requested its registration with the
Chgrity Commission. and thiswas accepted in September 17.
At the same time. the Duchesne Trust has continued its charitable work and the trustees have
had the opportunityto visit manyof the projects that receive grants 8nd some provinces of the
Soci8tywiththe aimofaccompanyingand encouragingthe leaders and promotingthe mission
of the Society in the drfferent countries where it Is present.
With effect from midnight Dn 31 March 2025. the activities, assets and liabilities of the Charity
were transferred to the Duchesne Trust CIO in accordance with a dee(J of transfer dated 10
April 2025.
Organisation
As established. the trustees have the final responsibilltyfor the policies. activities and assets
of the Trust. They meet at least quarterLy to review developments with regard to the Trust and
to m8ke significant decisions. The day-to-d8y manag8ment of the Trust's activities and the
implementation of policies 8re delegated to appropriate st8ff of the Society. overseen by a
trustee.
Trustees
The trustees who served during the period are listed on the Reference anA.admit￿t[at1vQ
details..o.f_-ttte LQUP of this report in accordance with clause 14 of the Trust Deed. on 10
December 2024, the Superior General, Barbara Helen Dawson. appointed Sister Claire
Pierrette Marie Castaing as a new trustee. On 12 December, the change of Superior General
Report ol ihe Trustees 15 months to March 2025

Trustees, report
took place. Sister Barbara Dawson, former Superior General, stepped do￿ as Chair of the
Board of Trustees and was replaced by Sistèr Claire In both role9. Sister Barbara continued on
the Board as a trust88.
Like all new trustees, Sister Claire went through a process of formation by other trustees on
the Board to become aware of her responsibilities as a trustee of 8 UK Charity, as well as what
it means to be a trustee.
Rernuneration of key management personnel
The trustees consider that they comprise the key management of the Charity in charge of
dir8Cting and controlling, running and operating the Charity on a day-to-day b8$iS.
Alltrustees are members of the Society and their living costs and personal expenses are borne
by th8 Motherhouse of the Society. They receive no remuneration or reimbursement of
expenses in connection with their duties or responsibilities as trustees.
Volunteers
The administration ofthe TTUSt is done on a voluntary basis by members of the Soclety ofthe
S8cred Heart. The trustees wish to record their appreciation of this work.
2.4 Relevant Policies
2.4.1
Donations and ￿'ant Inaking polici?
Duringthe 15months ended 31 March 2025,the funds have been used to contlnue supporting
charitable works that are particularly relevant to the work of education and social justice. The
criteria forthe use of these funds are that the work carried out or supported must demonstrate
a commltmentto:
Promotlngjustice. development and care for the disadv8ntaged and marginalised:
Promotin8 the development and formation of young people. espeelelly the most
vulnerable:
Allowing disadvantaged people to a¢hieve self-sufficiency.
Education. both in torm81 and informal contexts.
Supporting vulnerable people In emergency situations (wars. pandemics, natural
disasters)
Although exceptions can be made. it is necessary that a member of the Society be able to
account for the use of the donatlon r&c&ived.
Report of the Trusiees 15 months to March 2025

Trustees. report
2.4.2
Risk managLineiil
In line withthe requirement fortrustees to undertake a risk assessment exercise and report on
the same in their annual report. the Truste8s have assessed the rn8joI risks to which the
Charity. its succe550r CIO and group entities are exposed. The trustées evaluated the major
risks facingthe group during the financial period. Aftervarious dialogues. the trustees decided
to devote particular attention to risks releted to investment management and updating the
trust's statutes. To this end. the trustees requested advice in both areas and, after several
meetings and discussions, took the fouowlng decisions..
to seek an Outsourced Chief Investment Manager IOCIOI to r8duce risk before the
investment manager fetires.
to constitute a Charitable Incorporated Oiganisation ICIOI and thus move from an
unlncorporated Charity to a CIO.
This ensures compliance with the regulations establishe(J and updated by the Charty
Commission for England and Wales for trusts operating internation811y. Managing these
slgniylcant risks involved investing time and financial resources throughout the financial
period.
The management of pyioritised rlsks has reduced risk exposure and produced positive results.
Towards the end of 2024 and the first few months of 2025, administrative work intensified to
facilitate the transltion from an unincorporated Charity to a Ch8rit8ble Incorporated
Organisation ICIOI-
Trustees have 8Lso devoted attentlon to specific operational 8reas of the group. its finances
and updating policies and procedures with a view to transitioning from an unincorporated
Charity to a CIO. The trustees believe that by monitoring reserve leveLs. by ensuring controls
exist over key financial systems, by examining the operational and business risks faced bythe
group. and by creatlng andlor updating policies and procedures, they have established
eff8ctive systemsto mitigate those risks.
2.4.3 Re.seniL¥.s poIAc!T
The Trustees have considered the need for unrestrlcted reserves of the Charity 8nd its
successor CIO and consider that it is necessary to make a financial projectlon to assess the
abilwtyto meet future obligations and the need to designate assets to ensure its stability in the
medium and longterm.
Report of the Trustees 15 months to M8rch 2025

TNstees' report
In Updating its prolectlons the Trustees will consider the following:
demographics of the Society's members;
nature of the charitable work they carry out:
changes taking place in the organisation of the new territorial provinces-
Importance ol implem9nting apostolic priorities.
foreseeable decline in Income from voluntary contribution8:
growth of financial needs of provinces in which the number of members is
Increasing.
The Tiustees of the CIO will formulate the CIO'S updated reserves policy over the coming
months.
2.4.4 IniTestnient PoliciT
Durlngthefln8ncial period the investment policy and investment managers were reviewed and
the Trust maintained the strategy in line with its current and future requirements.
The investment oblectives remained unchanged:
The primary focus wlll be to preserve the re81 capital value of the f unds received
over 10 years.
Togener8te cash of$4 million perannum.
Achieve a longiem return. 10 year, net of 811 charges. of 0.5% to 1% per annum.
above inflation.
Due to the nature of where the Society oper8t8s an(1 undertakes its work. the definition of
inflation is defined as the average rate of inflation in the United States of America as d6fined
bythe"Consumer Price Index" ov8rthe past2ye8rs.
All expenditure of the Generalate and those provinces that will require assistance in the next
five years will be translated to USD at the time of the request for funding so that the exchange
rates will normalise the level of inflation in thoge countries.
The investment policy came into place on the 1 July 2011 and was revised in 2016, 2020 and
2023. The results for the 15 months to 31 March 2025. indicate that the objectwes have been
met and since inception all objectives have been echleved.
Report ot the Trustees 15 months to March 2025
10

Trustees, report
The Investment Committee ot Duchesne Trust".
reviewed the investment strategy and contimed that ￿ would need a real reiurn
morethan 6.5% pér annum to meet Cgsh flowrequirem8nts and preserve capital.
reviewed the asset allocation and made no changes-
participated in the selection of the Outsourcèd Chlet Investment Officer i.e the
OCIO Companyand made proposalstothe Board ofTrusteesfow its approval.
recommended to the 808rd of Trustees the choice of a hybrid model for exercising
discretionary authority: 70% discretlon tor the OCIO and 30% discretion to mak8
shared decisions with the parlicipation of the OCIO and the Investment
Committee:
will continuè as the Investment Committee of l)oth the Duchesne Trust and the
Charltable Incorporated Organisatlon {CIOI during the transition period.
Considering the Ethlc81 Policy, specifically the Duchesne Trust seeks to invest In companies
which:
make a positive contribution to society.
conserve energy and natural resources.
have high employee welfare and equalopportunities records:
provide high quality products and se￿iceS of longterm beneffi to the community.
The Duchesne Trustwould not Wlsh to invest in companieswhich:
produce and eistribute arms, 18ndmin8s and other products which destroy lrfe;
produce and distribute pornographic material,.
engage in irresponsible environment81 practices:
actively support governmental regimes with oppresslve human fights policies.
The Trust has also developed additional ethical policies where it felt further guidance and
understanding is required (Jue to the complex nature of the type of companies or global
investrnents it invests in. No ethic81 restrictions apply otherthan those set out above. 81though
thè Trustees reserve the rightto exclude any investments in companies whose representation
might prove damaging. directly or indirectly, to the purposes or reputation of the group.
Report of the Trustees 15 months to March 2025
11

Tru*ees' report
2.4.5 Fiii(Incial Reviem.
A summary oftho results forthe group forthe fifteen month period from l January 2024 to 31
March 2025 Ithe perio¢Jl. the date of the transfer of the net assets of the charitable groupto the
CIO. c8n be found in note 20 ofthe attached accounts.
2.4.6 Financial reporl foi. thL pei'iod
Tot81 income of the group for the period amounted to e6,408,533 lyear to 31 December 2023-
8.620.364). Of this income, 8 total of e1,214,391 lyear to 31 December 2023- 6 3.725.622)
was r8ceived by way of donations and legacies. Income generated from the Ch8Ttty'S
investments and interest receivable amounted to É5.194.142 (year to 31 December 2023 -
,894,7421.
Expenditure for the period. excluding the transfer of net assets to the successor charltable
group. tot8lled e18,693.420 lyear to 31 December 2023 - e10,330,8371. Expenditure incurred
on raising funds for the perioé amounted to e6,518.946 lye8r to 31 December 2023
,120.4841. Expenditure on supportingthe charitable workof the Societyofthe Sacred Heart
and its members forthe period wase12.174.474 lyearto 31 December2023 46,210.353).
Net expenditure, before Investment gains and the transfer to the successor charitable group.
was therefore e12.284.887 lyearto 31 December2023-£1,710,473).
After eccountlng for net investment gains of e18,S70.991 (year to 31 De¢emb9r 2023
11.490,1091, the net income for the period and the overall net Increase in funds. before the
transfer of net assets Was É6.286.104 lyearto 31 December 2023-e9,779.6361.
At midnight on 31 March 2025. the Charity's net assets were transferred to Duchesne Trust
CIO Icharity Registratlon Number 1210066}. This transfer amounted to a donation of
149.659.067tothe successorcharity. Furtherdetailsofthetransferof netassetsofthegroup
and the Charity are given in note 20 to the accounts.
Investment performance
The Charity's investment portfolio. priortothe transfer of net assets to the DuchesneTrust CIO
had a marketvalue ofe191.259.7631310ecember 2023~e179.107,2111. and included cash
held by investment managers of £17.810.551131 December 2023-e28.413,8301.
Investment income generated from these investments and the nèt gains on investments 8re
noted above.
The investment man8gers continued to invest in accordance with the trustees, inv8Stment
policy set out earlier in this repon.
Report of the Trustees 15 months to March 2025

Trustee5' report
ReseNes policy
The reader will discern from the review of the year that the Charity has carried out, and its
successor CIO will continue to carry out. a diverse range of activities. The Trustees have
examined the need for free reserves i.e. those unrestricted funds not invested in tangible fixed
assets, designeted for speciflc purposes or otherwise committed. Th8 Trustees considerthat.
given the nature of the Charity's work and that ot its successor CIO and their commitments.
the level of free reserves should be approximately two years. expenditure.
Financial position
Following the transfer of the net assets to Duchesne Trust CIO at midnight on 31 March 2025,
Ihe group's b81ance sheet showed reserves of enil131 December 2023 - e144.623.8451. The
total reseNes transferred at that date amounted to e151 m.
The group's funds included restrlcted funds of £89m 131 December 2023 e78ml. Further
details of the restricted funds are given in note 16 to the accounts.
Ofthe remainingfundstransferred on 31 March 2025,£52,629,864131 December2023-e61MI
8re designated funds. Funh8r details of the designated funds are given in note 17 to the
accounts.
The tangible fixed assets fund 8mount8d to e263,311 131 December 2023 - e329KI and
represented the property 8nd othertanglble flxed 85set5 essential for the support and work of
thegroup.
The baLance ofthefunds representfree reservesigeneralfundsland 8mountedtoe9m131 Dec
2023- e4.7M)
The Trustees are of the opinion that the tree reserves (general funds) are adequate but not
excessive for thè needs of the successor CIO.
The group's assets
Acqulsltlons and disp0s8ts of fixed assets durinE the year are recorded in the note to the
accounts
Tax exemptions
The beneficiaries of the work of the Charity have the assurance that all the income of the
Charity must be applied for charitable purposes in furtherance of the Charity's object of
advan¢ing the religious and other charitable work of the Society connected with the
advancement of tho Roman Catholic religion. The Charity enjoys tax exemption on income
from its activities and on its investment income and gains, provided these are epplied tor its
Charitable aims. The financial benefits received as a result of these exemptions are all applied
Repori ol the Trustees 15 months to March 2025
13

Trustses. report
forth8 purposes of advancingthe religious and other charitable work of the Charty connected
with the advancement of the Roman Catholic religion. This enables and supports the Sisters
to live out their faith and to put that faith into practice through a wide variety of reli¥ous and
other charitable works.
Fundraising
The Charity on occasions recelves donations and voluntary incorne. It gims always to achieve
best practice in the way in which it communicates with parishes. donors, and other
supporters. Ittakes care with both the tone of its eommunications and the accuracy ol its data
to minimise the pressures on parishioners. parochial church councils, donors. and
supporters. It applies best practice to protect their dat8 8nd never sells data, it never swaps
data and ensures that communication preferences cen be Changed at any time. The Charity
manages its own activities with respect to raising funds and does not employ the servlces of
professional fundraisers. The Charity undertakes lo react to and investigate any complaints
regarding its activities for raisingf unds and to learn f rom them and improve its seNice. During
the year. the Charity received no formal complaints about its activitie5 for raising funds.
Future Plans
Thè Trustees of the Charity end the Charity's successor CIO will continue working with the
Society and the relevant professional bodie5 to meet the objectivès outlined previously in thls
report.
Report ol the Trustees 15 monihs to March 2025
14

Charltable projects
3. Charitable projects involving members
and friends
3.1 Mother House Solidarity Fund
General Information
One of the key instruments by which the Society of the Sacred Heart carries out its charitable
work in favor of the most vulnerable communitles and peoples is the"Mother House Solidarity
Fund". Through this fund, the Society provides tunding to projects around the world, following
the calls of both Chapt8r 2008 and Chaptei 2016 to INe justice. peace, and the integrty of
creation in ourworld today.
The fund is stewarded from the Generalate. through the Solldarity Fund Commission.
according to published guidelines and criteria. The commission, which hos a three-year
mandate. is made up of five RSCJS and one lay collaborator. Following a yearly calendar, it
prepares the documentsforth8 call for proposals Iguidelines, lorm. FAQS. glossary), assesses
the proposals submitted agalnst a set of criteria. shares their work and recomm8nd8tions to
the General Council. and reviews the project achievements lendryof-activity report).
The MHSF proposals and the UN'S Sustsinable Devetopment Goals
The MHSF'S commitment to justice. peace and the Integrity of creation is
guided by the Sustainable Development Goals ISDGSI. a unNersal call to
action to end poverty. protectthe planet, 8nd ensure prosperityforall by 2030.
While SDG 4 Quality Education is central to thè mission of the Society. the 17
SDGS remain important to the MHSF and are reflected in different projects.
In March 2024, the Mother House Solidarity Fund IMHSFI received 36 project proposals: the
Board of Trustees of Du¢hesn8 Trust approved 35 of them for 8 total amount of É 370 000. The
Region of Africa received 4 grants. the Region of Asi8-Australia-New Zealand Ihereafter
"ASIANZ"18. Europe 9 and the Region of the America5 Ihereafter °Philippine Duchesne"114
grants. The area of fo¢u$ of about 60% of the proposals is education. followed by social
inclusion and support for basic needs. Five proposals address peace building and he81th care.
With regard to target groups, chlldren and youth top the chart with 35% of the proposals
addressingtheirneeds. Peopleonthe move and agentsoftransformation come nextwlth each
one of them amounting to S proposals. The projects will be implemented from mid-2024 to
mid-2025. and their reports of activities will be submitted in September 2025.
In July 2023. the 2023 MHSF granted 8 total of É 252 500 for 28 projects in the regions of Africa
1111. Asia-Australia-New Ze818nd ASIANZ15). the Americas - Philippine Duchgsne 18) and
Europe141. The projects were implemented between mid-2023 and mid-2024. Here are the
results of one project per regionthat r8sponded at least to one of thefour SDGS revised in 2024
bythe High Level PolitlC81 Forum. The 2024 HLPF revision focuse(J on SDG 1 No Poverty, SDG
Report of the Trustees 15 months to March 2025
15

Charitable projects
2 Zero Hunger. SDG 13 Climate Change. end SDG 16 Peace. Justice and Strong Institutions.
The results of one projectfocusing on SDG 4 Quality Education is also reported.
Philippine Duchesne l BrAziL Rio de Jafteiro. Alto da BOA Vista
Heloisa blaLia Ro
cs da Cunh3 ESC
This project aimed to support teenagers from low-income families by 8ddressinE
educational disparities and fostering personal grovrth. It provided tutoring, cultural
enrlchment. and medi8 workshops to 50 students, helping bridge academic gaps.
Mathematics tutoring focused on real-lrfe applications, maklng learning engaging. while
language sessions encouraged reading, debating. and writing on social issues. indigenous
history, and childrén's rlghts. The project also assisted students In preparing for prlmary
8¢hool final exams. crucial for accessing quality secondary educ8tion.
Using the Freirean approach, the Initiative promoted crltlcal awereness and self-worth.
Cultural enrichment included theatre visits, and m8dia workshops equipped students with
ski118 in productlon and scriptwriting. helping them express complex topics Itke children's
rights and climate change through digital storytelling. IT literacy played a vital role.
enhancing their understanding of technolo8y'S Potential and challenges.
The program led to signrfic8nt academic improvements. with students excelling in entrance
exams for prestigious schools-one even earned 8 scholarship. Their attitudè toward
mathematics shifted from frustration to curiosity. and their communication skills
flourished, boosting confidence and critical thinking. Additionally, parental involvement
strengthened family support neI￿OrkS. ensuring that students felt equal to peers from
privileged backgrounds while breakingthe cycle ol poverty.
10
Report of the Trustees 15 months to march 2025
16

Chaiitable projects
In'i I
Media workshop
Literature in language session
oup debates
Europe | Spain. Barcelona
Redde hospitalidad. d¢vmPanamiexlo,' Migm | Pi]ar Pavia rscj
This project tackled migrant housing challenges. reducing vulnerability ané homelessness
by Providing stable accommodation for 45 individuals over 8 year. It fostered hosptt81ity.
social int8gration. and intercultural exchange while offering legal support for residency
regularization.
Housing solutions included host families. community stays. and self-catering flats for 17
individuals. with food securFty ensured. Personaliz8d support involved sports. cultur81
events, and excursions to strengthen soclal connections.
The initiative led to signrficant improvernents: 42 partlcipgnts secured better housing, ten
completed residency processes and entered the workforce. while ten young people
pursued professionBI Iraining ant1 18ngu8ge development in Spanish and Catalan. The
project successfully laid the foundation for long-tèrm ￿8bIlIty.
16,
Report of the Trustees 15 months to March 2025
17

Charitable projects
Dinner with volijnieer anLrf rcsiOent5 In self-
C8teringflai
Parti¢ipanr's birthd8yparty8thos£ family
One-wcck holiday
Acriviryin hosthouse
Phib"ppine Duchcsnc | Nlexico, Amealco, San Juan Dehedo
CoAJtryendo expenennus ed¥ca¢iyaJ que IraKrfonnun wdas,.
Fdxcunon J)
BaraiA.C.
An* m￿1￿ Ciceto rs
This project supponed 493 vulnerable children and teenagers in rural areas, addressing
educatlonal g8ps and socio-emotional development. Through a structured peace
education program, 8cademic reinforcement, and creative activlties, it tostered values of
tolerance. mutual respect, and self-awareness.
Workshops in reading. writing. psychomotricty, and language targeted learning diff iculties,
while a mobile toy library bridged school and community learning. Family-based activities
strengthened bonds and encouraged meaningful interactions.
As a result. 80% of participants improved self-confidence, emotional expression. and
decision-making. They developed better self-regulation, strongerfriendships, and a greeter
sense of collabor8tion. helping build ￿$l[lent community ties.
Report of the Trustees 15 months to Narch 2025
18

Charitable projects
Proactive summer camps
Family activtties
Reading and wrttinÉ workshop
Report otlhe Trustees 15 months to March 2025
19

Charitable project$
Africa | Kenya, Eldotet, Langjs
Tnes,fv 4Nd£Ygetdblepknlin£ lo combat cltmJt£ cbange
al the Sanrd Hwrt Primary | Penina Wambale rscj
This project planted over SOO trees to combat climate change and support vulnerable
groups. The trees provided shade and helped preventwind erosion. forming a green fence
alongside awlre mesh to securethe compound, though th8ft and damage occurred.
Twenty unemployed. illiterate. and HIVIAIDS-affectèd workers from the Langas slum
received agricultuial tr8ining. gaining skills that improved their farming practicès and daily
dlet. Their green work provided income, enh8ncing their livelihoods and fostering
sustain8bility.
i(¢
wii
VulnL?rabie workers pl8ntingvegerables
Green and wire mesh fence
Growing vegetatrleg8rtfen
Report ot the Trustees 15 months to March 2025
20

Charitable projects
SDG 16 Peace
Asianz | Phi]ippines, LMindan20
Pnnttng ofinkngeffoAs a*lJab¢¢sfor Tts/aaAdig School￿ 0]
14ving Traknhons Rea&ng | GeThldine D. Villaluz rsci
This project helpe(I preseNe an(1 revitalize the Binukid language in the Talaandig community
by printing and dlstributing 337 alphabet books to three indigenous schools.
The book became a keyteaching tool, fostering language retention an(J cultural enthusi8sm
among children and youth. It encouraged participation in tradition81 customs, strenBthened
cultural idÈntity, and countered historical m8rginalization.
The initiative was celebrated with a thanksgiving event and graduation ceremony, marking
its success in safeguarding indigenous knowledge and practices.
16
Famil￿e$ of the Sungko Tala8ncligschool otLiving
Tr8rlitions displ8yingthe newslph8betbook
Lgntapan School of Liwng Traditions
Twelve fÈmal& 8nd eightm61eyouthgr8tlu8tes of
Bar8nggy8ugGaon f81aandigSchool olLiving
Traditions displ8yingthe new8lphabet book
Ritusl of thanksgiving io the Spirit-KeeperB
olthe i&llg(fage
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21

Charitable projects
3.2 Life in the Communities and Novitiates
The trustees are convinced of the irnportence of the formation of new members so that they
can dlscern their life project and freely decide whether they wish to become members of the
Society or whether they wish to collaborate with the mlsslon of the Society in a simple and
different lifestyle. They receive formation for their hum8n. spiritual and missionary
development. During the early stages, they know experient1811ythe different ministries related
to the four apostolic priorities.
New members ofthe Societyin Africa
Two new members of the uganda-Kènya Provlnce
made their flrst commitment. The celebration was
attended by their parents and other family members
and friends; th8 Sisters in the UGK Province ènd four
sisters from the RDC-Chad Province.
some
parishioners; some religious men and women from
otheT congregation$- some of our collaborators and
their teachers at St. Bernadette Primary School
Nakibizzi.
On September 21, 2024. the Province of RDC-TCH celebrated two
important events in the parish church of Saint Marie de Kimwenza
in the province of Kinshasa.. the lirst was the temporary profession
of vows by novice Eunice Nzila Santu. and the second was the
silver jubilee (twenty
years of congecrated
lifel of sisters Julienne
Mansendi
Mayamba
8nd Wivin8
Nkusu
'r
Mbumba. Many people
attended
the
Eu¢haristlC C8lebration, including members of the
Sisters, families. some religious from other
congreg8tions, partners in the mission, alumni of
Sacred Heart schools, friends and parishioneis of
Saint Marie de Kimwenza.
Report of the Trustees 15 months to March 2025
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Charitable projects
New members in South and South Ea￿ASia
The ASIANZ Novitiate in the Philippines welcomed
three new novices to our Novitiate Community:
Audreysihotangand Novi M8nek{from Indonesia)
and Nithy Raj (from India).
classes before coming to Montaiban in August.
2024. They Joined
our 4 second year
novices.- Marie Odis
and Klaudiana Rua
(from
Indonesial
and Kurnud Tirkey and Victoria Hapadg8r8 (from India).
First Year Noviccs..
'Il.qrtr} arptt Novi IINSI,
Nithya (INDI
Whlle they are In the novitlate, the novices arè taking
Int8r¢ommunity Novitiate Formation classes with otherwomen
and men in formation as well 8s participating in Society
Seminarson ourlrfe and mission given by RSCJ from around the
Society.
Second Year Novices. and
Victoria INO
Tho novices are volunteering in
chlldren's education and advocacy
proEr8m at St. Madeleine Sophie
Foundation ISMSF) located on our
property in Montalban.
Welcome Audrey. Novi and Nithy8 to
the Societyofthe Sacred Heartl
The ASIANZ Noviliale Cofflmunlty includin£ Ihe new PTVS
Report of the Trusiees 15 monihs to Narch 2025
23

Charitable projects
Firstvows in Asianz
Onjuly 1, 2024, the ASIANZ Novitiate in
Montalban, Philippines rejoiced with two
young women who have chosen to join the
Societyofthè ofthe Sacred Heart. Alongwith
friends and members of their families and the
mission partners of the Philippine District,
RSCJ fromthelr respective communities and
other Asian countries witnessed their
commitmentwithjoyand gratitude.
On October 19. 2024, the first vows of Oktaviani
IIINSI, Magdalena IINSI end M8rtin8 IINSI were
celebrated in the MaterAdmirabills communlty
in Bandung. Indonesia. The ceremony was
presided overbyFr. Leovan Beurden, OSC. Over
250 people attended the celebration and
another 100 participated online
Chicago Novitiate
On September 7, Albe Romero Gangonells officially beg8n her novitiate. The International
Novitiate Community in Chicago were joined on line by Nuria C8118ghan, Provincial ot Spain.
Suzanne Cooke. Provincial of USC.
Sally Brennan and members of her
former community in Bilbao. Spaln.
The Opening Ceremony was a joyous
celebration of this next step in Alb8'S
journey and our ongoing journéy In
becoming One Body gcross the
world.
Latér. off Ilne. Mass was celebrated
by Fr. Bri8n Barrons M.M and Anna
Csokasi. Novice Director presented
Alba with her cToss and 8 copy ofthe
Constitutions. M8sswasfollowed by
a relaxed lunch together.
Report ol the Trustees 15 months to Narch 2025
24

Charltabie projects
Firstvows in Europe
Katalin Simontookherfirstvows on January 6, 2024 in Budapest at
the"Szent Csaiad" IHoly Family) parish church. Gabor Bellovics SJ
presided over the ceremony ond the Provincial of CEU. Angel
Corsten, rscj, received her vows. About 200 guests (religious.
family, and friends) attended the cerernony.
Onjanuary 13. 2024Alejandra Dela
Riva look her first VOWS in Bilbao,
Spain. After 8 longtime ofgettingto
know each other, and afterthe last
two years of her novitiate in
Chicago IUSAI. we are happy to
welcome Alelandra to the Society
to continue her formation in the
Province of Spain. We look forward
to accompanying her on the path
that God is tracing out in her life.
'Ii.
Report ol the Trustees 15 months to March 2025
25

Administration of the Societyof the Sacred Heart Life
4. Administration of the Society of the Sacred
Heart Life and Mission
Duringthe 15 months to 31 March 2025, the DuchesneTrust continued its charitable workwith
the commitment and support of members of the Society of the Sacred He8rt in 40 countries
around theworld. General Council members and som8trustees of DLtchesneTrustvisitedthe
Antilles. India. the District of Philippines, the Democratlc Republic of Congo and Chad during
this period, to spaak with local sisters and mission partners about their experiences in the
communltlesand schools wherethey live and work.
We will introduce some specrfic 8re8S Wlthin the Society. some of which Include the activities
of colleagues and friends who are part ofour extended group.
4.1 Visits to Pmvinces
Vlslt toArgentina and Uruguay
M8rie-Je8nne Elonga
M8rie-Je8nne Elong8 tr8veled to the Province of Argentina and Uruguay8t th8 beginning of
June 2023.
The warm welcome of our sisters In ARU was
one of the most striking experiences of my
visit, as I was able to dlscover 8 depth of
meaningand commitmentthat impressed me
deeply. Their warm hospitglity immediately
made me feel at home. and ellowed me to
immerse myself f ully in the experience.
During my visit, I had the opportunity to talk
with our sisters and lay collaborators, getting
to know their motivations and their dedication
to the mission we share. I was struck by their passion and determination to serve local
communities. to make a positive difference in the lives of the people they touch. Their close
collaboration is 8 source of inspiration, illustrating howmission can be more effective when
we worktogether in harmony and mutual respect. This goes beyond simple dailytasks- it's
about transforming lives. bringing hope and creating stronger, more interdependent
communities.
During my visit. I witnessed educational projects that went far beyond the simple
transmission of knowledge. Our sisters and lay colLaborators work actively to create an
inclusive learning environment, where each individual is valued and encouraged to develop
Report of the Trustees 15 monihs to March 2025
26

Administration of the Societyof the Sacred Heart Lrfe
their full potential. This has 8 lasting imp8Ct on students, lives, as th8y acquire not only
academic skills. but also values of emp8thy, solidarlty and respect for others.
I've also been impressed by the support
programs for the poorest f8milies. Our
teams work to provide food assistance.
access to healthcare. and educational ser-
vices to parents and children. This holistic
approach helps break the cycle of poverty
by strengthening famili8s' rèsilience and
giving them the tools they need to improve
their quality of life.
Som& older sisters are turning to less
physically dem8ndlng roles. such 85 teachlng. praying. spirituality and mentoring. They
share their wisdom and 8xperience wlth younger generalions, guiding them on their own
path of seNice. Other senior sisters may devote theirtime to prayer and meditation, offering
invaluable spiritU81 sUPPOrt to the community. Their pr8yers 8re an essential pillar of
religious life and mission, bringing comfort 8nd inspiration to 811 those around them. Their
ongoing contribution to mission is 8 re- minderthat love and service know no age limits. and
that religious life is a lifelong commitment that transcends obstacles. The younger and
healthier members work har(J to support their older sisters. looking after their well-being
and ensuring they have all the $up- port they need to pursue their mission
Visit to Italy
8arb8ra D8wson | Marie-Je8nne Elonga
Barbara Dawson and Marie-Je8nne Elong8 visited the Provinoe of italy in June2023.
We recently un(iertook a friendly visit to the sisters in the north of the It81i8n province. a
long-ew8iied moment since the closure of the Villa Peschiera house and the relocation of
our sisters to various institutions in Padua and Bergamo. The Vi118 Peschiera house was a
place of life and mission for many years. and th8 transition to new residences has been a
challenge for our sisters. There they will receive the love and care they need. We recognize
and appreciate the love with which they have given their lives to the mission of the Soclety.
Report of the Trustees 15 monihs to March 2025
27

Administration of thesocietyof the Sacred Heart Life
During the visit. we had the opportunity to listen to the experiences of our sisters and
understand the challenges they have faced. It was a tim8 for listening attentively• sharing
stories and praying together for the continued success of our sisters, mission in their new
institutions.
Despite th8 challenges of
relocation. they persevere in their Commitment
to our charism and continue to spread the good
news by the simple witness of their lives. We
also had the chance to vislt our sisters, new
homes in Padua and Bergamo. soaking up the
atmosphere of these places and the way our
sisters continue their mission.
Ultimately. th18 friendly visit strengthened the
bonds between OUT Slsters and showed that,
even when circumstances change. the solidarity. fraternity and communlon that are at the
heart of our mission. end the support of the congregation, remain constant. Our sisters.
commitment to serving, loving and educating, even in different circumst8nces. Is proof of
th8 èndurlng nature of our spiritual heritage. They gre a living reflection of our commltment
to meet the needs of the most vulnerable and to bringtheisght of faith into the darknes8 of
the world. In their new communities, our sisters have become catalysts for change. bringing
the blessing of their presence and service. They are shininE Stars in the Ilves of those around
them, inspiring and upliftingthose fortunate enough to knowthem.
Vlsitto Mexico
B8rbara Dawson l Marie-J8anne Elong8
K014
Report of the Trustees 15 months to March 2025
28

Administration of thesocietyof the Sacred Heart Llfe
Vlslt to the Democrotlc Republlc of Congo
Anne Corry | Daphne Sequeira
On March 10- 17. 2024, the Province of RDC-TCH
was dellghted to welcome two of the General
Councilors, oursisters Daphne Sequeira and Anne
Corry. During the assembly. we showed off a few
traditional dance steps. accompanied by cultural
presentations from four countries: the Democratic
Republic ofthe Congo, Chad, Kenya gnd uganda.
•ic rtIlAD
The first dance we performed. "Jambo bwana",
which rneans "Hello Mr., is a song to show
hospitality in Kenya. It is a reminder that when meeting someone even forthe first time. one
ought to show respect. kindness and greet them with 8 smile. "Maasai shuka" represents
the cultural identityand herit8ge ofthe Maasai communty in Kenya.
Asforthe Bug8ndaculturè.weperformedthe"Kantondayebale" dance and songtoexpress
gratitudg to the Lord for all his blessings.
The dance performed forchad wasentitled"Ndoyéh cronewayyoo". whose singerspeaks
of polygamous families who do not value the first wife in the household. This dance was
accompanied by sougou wai attached to the hip, wlth the Toupouri woman hiding her
behind as a sign of respect to the rnen during ceremonles.
Fin811y, we presented th8 CLJlture of the
Democratic Republic of the Congo with
loincloth on our hips. expressing the joy of
the festival. The song that accompanied our
dance step was entitled "Sabina" meaning
"crazy love". This song urges women to get
involved in work so as to be useful to
society. Through this song, the author also
speaks of the mad love he has for his wife,
Sabine.
We chose this Song firstly because we want to express the love we have for Jesus and for
our congregation. but alsoto showourdesireto become spouses ofjesus: womenwho are
useful and capable of revealin8 the love of the Heart of Jesusto each other and to the world.
Report of the TrLlStees 15 monEhs lo Narch 2025
29

Administration of the Societyof thesacred Heart Life
4.2 General Chapter 2024
The General Chapter was held in Nemi, Italy, from August 1 to August 31, 2024. Its theme was:
Cour8g8. confidence. transformation
Through the power ofthe spirit
Luke 4..14
Duringihese last eight years. we have been living
the four calls ot the 2016 General Chapter: to
reach new frontiers. to live rnore humanly. to
create silence and to be and act as one Body.
Together, we have dreamed of 8 Society capable
of meeting the challenges of an ever-ch8nging
world.
The Assernbly of Provin¢i81s in Malaga in
December 2022 confimied the ne8d for a
revitalization of mission through what now
became known as the Apostolic Priorities and afllrmed youth as an explicit and visible option
within each Apostolic Priority- We developed the next step in the reconfiguration of province5.
We recognized that reorganization requires a new approach to governance and leadership on
the part of all members of the Society. It involves greater co-responsibilty, flexibilwty and the
practice of synodality. We have been invited through these years to change our thlnklng. our
mental models and ourways ofdoingthings.
Each area I district I province held their respective Chepters to prepare for the General
Chapter and to elect their delegates. who arrived in Nemi filled with imrnense gratitude for
what the Lord has accomplished in and through us and our mission partners on a journey
chgr8Cterized by dialogue and discernrnent. As the Chapter progressed, we telt with deep
certaintythatwe were livinga moment of renewal.
Conclusions
Govemance:The newsuperlor General and General Council
On December 12. 2024. we celebrated the transition to a new Superior General and 8 new
General Council. Clalre Castaing. RSCJ. who previously served as Provinci81 for Belgium-
France-Netherlands and as District Superior of Egypt, will lead the Society for the next eight
years. Her election marks a nèw chapter for the RSCJ as they navigate the challenges and
opportunities that lie ahead. Joining her are Ananda Amr5tmah81 of India, Noellin8 Ngmusisi of
uganda-Kenya. Paqui Rodrlguezof Spgin and SheiLa Smith of United States-canada.
Repoit ol the TrLJStee5 15 months to March 2025
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Admin18tration of the Societyof the Sacred Heart Life
We have a deep desire to strengthen
our Cor Unum and our sense of
common mission that springs fTOrn
our charism.
We seek to expand models of
leadership at all leve15 $0 that they
refiect Breater participatlon an(i
create spaces for each religiou$ to
"contribLrte to the progress of the
whole as en expression of our
communion."
(Constitutions 51401. From lell.. Ncellin8 N8musisi, Sheila Smith. Claire LasÉ8Jng. Ananda
Amiitm8h$l. and Pauui Roclriguez
We seek to ensure governance and
other structures encourage all levels of community {local. provincial. and Internationall to
relate to one another; to assume co-responsibility for the whole- and transcend our own
particular situations in order to build the communion that Chiist has entrusted to the Church
and to the Society Iconstitutions 91441. This requires broad-based comrnitment to live the
values and principles we have consistently embraced- discernment. co-responsibility. mutual
trust. accountability. interdependence, and subsidiarity. It also requires a commitment to
explor8 ihe integratlon of shared lea(Jership and participatory leadership model8.
Apostolic Priorities
The challenge of ourtime is to live and act es One Boty, aniculatingand creating newways of
living out our priorities for mission across existentl818nd geographic boundarles for the sake
of our blessed antd broken world. The General ChapteF confirms that the Apostolic Priorities
unlte us In Ilvlng the mSsslon of the Society today. These prior￿leS are rooted in our
Constitutions, particularly in the section on Our Service in the Church Bnd In the cell of our
charism to discover and manifest the love of the Heart of jesus. The four Apostolic Priorities
call us - both RSCJ and partners in mission - to live out 811 our apostolic commitments in g
worlij deeply in need of love..
mission is the central motive (the why) of our reorgan128tion.
we choose to express OUT mission today around a set ol four global Apostolic
Priorities: Education. Spirituality, JPIC and Formation.
we desire to respond to the needs ol young people through the Apostolic Priorities
and our apostolic activities.
we makethischoicetostrengthenthe impactofourengag8m8ntwiththeworld for
purpos6ful tr8nsformatlon.
Report of the Truslees 15 months to March 2025
31

Administration of the Societyof the Sacred Heart Lrfe
we seek ways to revitalize our misslon in response to urgent needs to foster
collaboration, coordination and comFnunication for greater impact both locally
and globally.
the Apostolic Priorities touch a deep dirnension of our roots and mission. They are
linked to our identity as RSCJ. The path of developing and integratingthem will lead
us to live this identity with Clarity and share itwith others
Th8s8 concluslons and the calls of the Gener81 Chapter have been published in a book that
has been sent to all RSCJ. The election of Sister Clairé Castalng and the conclusions of the
General Chapter will undoubtedly have a profound impact on the future of the Society ofthe
S8¢red Heart. As we embark on this new chapter. we continue to draw inspiration from
Madeleine Sophie and strive to live our mission with courage. confidence. and a deèp
commitment to service.
Report ot the Trustees I S months io March 2025
32

Administration of the Societyof the Sacred Heart Life
4.3 Historical and Cultural Heritage of the Society
Villa Lante: Formation for religious and lay people
2024 was a very inlenseyear here at the Vi118 Lante. The renovations are flnallyfini5h8d and wo
have been 8ble to openthe doorsto many RSCJ groups from all overthe world who have seen
an(J appreciated the results of years of hard work.
The slsters who have come to the Villa Lante to Pgrticipate in
the Renewal program, one of the Society's commisslon
meetings or pre- or post-Ch8Pter meetings have been able to
se8 the renovation of the Villa L8nte lor themselves. In 2024,
the celebration of the Profession Ceremony took place in our
restored chapel.
If
To get a glimpse of the new Villa Lante we invlte you to visit our
new webslte: www.villalanterornLotg . available in English,
French, Spanish and It81ian. The Society of the Sacred Heart
has decided to Start the process of Teopening the guest house
inside the Villa Lante Center: starting in 2025, groups from other congregations 8nd
organizations aligned with the charism of the Sacred Heart of at least eight people wiu be able
to book a stgyhere.
In addltion. the museum inside the
Villa Lante that is dedicated to Saint
Madeleine Sophie Barat was
opened tothe public on May 25. the
feast day of Madeleine Sophie.
Many RSCJ have already been able
to visit it with the guidance of Alice
Us81, and we will be happy to
organize a visit for you whenever
you wish. We remind you that a
vldeo with a virtual visit Is visible on
the RSCI Intern8tion81 website _httw£.'l/rscjinternati
og1inaugur3l1￿oL1hQ-V1lI3.1an.lR-
and
on
the
RSCJ International YouTube
channel
IJEJ ll .,
Forthe future oftheVilL8 Lanle Center as 2 form8tion center, we have manyprojects to make
the house more sustainable and accessible. We count on yoursupportl
Report ol the Trustees 15 months lo March 2025
33

Administration ofthe Societyof the Sacred Heart Life
GeneralArchives
The draft of the Guidelines for Provlnc181 Archives. created by Margaret Phelan in 2021, was
reviewed, updated with new content, and distributed in the three languages ol the Society to
811 provincial archivists. Along wlth the Guidelines. an archlval tralning via Zoom has been
offered to the provincial archivists- this has also allowed us to get to know each other better
and share informatlon regarding the archives.
In preparation for the General Chapter, a document was prepared presenting a number of
possible arrangements for the future of the provlnclal archives. A document of "Best
practicès" was created to begin to manage the archives ofthe new provinces in re18tion to the
old on6S.
With regard to research and the collections. both the Philippine Duchesne Collection and the
Apostolate ol form81 education collection 8re now available online:
https:/lrscjarchlves.orgiindex.phplapostolats
Recent research conducted in the archives includes: Elisabeth Galitzine's wrlting8" the early
years of the Society in the United States. with a focus on the education of Nalive Americans,.
the Society's boarding schools in England; refugees in Roman convents during the N8zl
occupatlon. genealogy studies: the art herit8ge of the Society; the Society in South America
during dictatorships.
Two professional cinema reels on the
Sacred Heart mission In the Democratic
Republic of Congo have been trgnsferred
lo digital. Alice Usai talked aboutthese in a
presentation she gave at the 'Cinema and
Missions" conference heid at the Vatican
Academy foi Social Sciences on October
15. 2024.
The digitization of Madeleine Sophie's
letters is now complete. while the
corrgction
of
the
transcriptions,
coordinated by Margaret Phelan rscj and
Mari Luz Galvan rscj. continues. Another
digitization project involving the early
circular letters Ipre-18401 18 almost
cornplete.
From the RDC mission lilm
Report ol the Trustees 15 months to March 2025
34

TnJste8s' Biographies
5. Trustees, Biographies
Sister Claire Castaing
was bom in Marseille. France in 1963 and joined the
Society Sn 2009. Her responsibilltles in the Society have
included being a delegate of the BFN Provincial
Council for the creation of the Sophie Barat Education
Ne￿ork, a member ol the Models Commlttee for the
preparation of the Special Chapter 2021. and
member of the International Planning Commission.
She 81s0 geNed as memberofthe BFN provinciÈlteam
from 2012 to 2014. after which she became the
Provincial of BFN12014-2021. She was also the Districl
Provincial for Egypt before being voted Superior
General of the Society in August 2024. Prior to this she
worked 8s a youth judge for sever81years in Poitiers and Lyon. She was appointed trustee on
December 12. 2024.
Sister Barbara Dawson
is a native of San Francisco. Educated at the Unlversity of
San Francisco and Stanford University. her ministries
have included service in education. 8dministration and
immigration in both the U.S. and Jakarta. Indones18.
Barbara seNed as Provincial of the United States-canada
Province from 2012 to 2016 and she also held the position
of Provincial for the U.S. Province from 1993-1999. In
addition to leadership, Barbara has Se￿ed as a t8acher
and administrator for schools including St, Martin de
Porres in Oakland. California.. Lone Mountain College in
San Francisco. and othersthroughoutthe U.S. Shewas in
administration forvarious Catholic ChaTlties and has addressed public policy and immigration
issues in the San Francisco Bay area. She is a member of the bar in both Calrfornia and
Missouri. serves on the board of the Hilton Fund for Sisters and has served on the board ol
trustees forvarious ecademic institutions. From 2016-2024. Barbara wasthe Superior Gener81
ofthe Society otthe Sacred Heart and Chair ofthe Duchesne Trust. She resigned as trustee
on December 12, 2024.
F¢eporl of the Trustees 15 months to March 2025
35

TNstees' Biographies
SisterAnne Corry
h85 a professional background in education and
mission promotion. Originallyfrom Newzealand. she
has lived in Rome since 2014 first as international
coordinator for juslice, peace and ecology and from
2020-2024 as 8 Gener81 Councillof for the
Congregation. Anne has taught in high schools in
Australia and Newzeatand 8nd hasserved on Boards
of education and healthcsre institutions of religious
congregations. Anne has Masters degrees in
Eéucation and Theology and a Gradu8te Diploffla in
Leg81 Studies and Ethics. She has travelled widely in
countries of Afric8. Europè and Asia and lived for a few weeks in Peru. Ail of this has
contributed to her understanding of the migsion-related activities of her congregation around
the world. Anne's current role gives her an overview of the wldespre8d mission of her
international congregation. She rgsigned 8S trustee on April 17. 2025.
Sister Monica Esquivel Ballesteros
was born in Mexico in 1966. She joined the Society of
the Sacred Heart in 1992 and has worked in formal
education as well as alternative I"popuLar"l education
and pastoral minlsty. In formal educ8tion she worked
as a secondary school mathematics teacher 8nd 8S 8
school chaplain. In alternative education her work
focused on women and young people, in the areas of
communication. educatlonal development, as well as
the promotion and coordination of educational
piojects. teacher training and the creation of
educational networks at municlp81 and regional level.
MOnlc8 served for 8 years in the Society's mission In Nlcaragua. working for the charity
'Roncg11i-Juan XXIII Association" in the areas of housing and education. She also worked for
the Conference of Religious of Nicaragua as the Justice. Peace 8n(J Integrty of Creation IJPICI
coordinator.
Upon her return to Mexico in 2011. sh8 worked in teacher training program for public schools
in the municipalityof Ayutla de los Libres, and was a member of the provincial council. In 2013
she was appointed Provincial of Mexico. Duringthistime she was also a memb8r ofthe Board
of Directors ofthe Conference of Religious of Mexico. From 2016-2024, she was a member of
the General Council of the Society of the Sacr8d Heart In Rome. She resigned as trustee on
April 22. 2025.
RepDrt ol the Trustees 15 months to March 2025
36

Trustees, Biographies
Sister Marle-jeanne Elonga Abombpi
Mokango
is a theologi8n by training and s graduate In education.
She has experience in formal education, working at
different times and in different places as a teacher.
principal and head teacher. She spent some years in
the formation of young RSCJ'S in her province of the
Democratic Republic ofcongo IDRCI before seNing gs
provincial and president of the Conference of Religious
in the DRC. This last role helped her to interact with
other congregations in the are8s of initial and ongoing
fomation. man3gement and self-financing. From 2016-2024. she was a member of the
Ganeral Council of the Society ofthe Sacred Heart in Rome. She resigned as trustee on April
22. 2025.
Sister Georgina Zubiria
studied to be a primary school teacher. For 9 years She was
director of the Santa Cecilia School and later she was working
with low-income women in popular education and gender
perspective. Since shè was studying to obtain her degree in
Theological Sciences. she has worked in different areas of her
province such 83form8tion, treasury. and leadership. Georgina
has expeiien¢e working in non-profit organizations and
transferring th8 management of both the School and the
Finance Office to lay people. As 8theologian. she has taught at r
the Universidad Iber08mericana, the HIsp8nic P8Storal
Institute of the Universityof Santa Clara. other higher education
Instltutions and religious congregations. She was Director of
the Center for Theologic81 Studies of the Interreligious
Conference of Mexico ICIRMI and advisor to the Board of
Directors of the Conference of Religious of Latin America anij the Caribb9an ICLARI. She
participated in the creation and consolidation ot the CIRM N8tion81 EducatSon Network. In
recentyears, she worked as a Canoni¢alTreasurerin Mexico, and was the C8nonicalTreasurer
General of the Society of the Sacred Heart. She retired 8S trust86 and Canonical Treasurer
Gener81 on December 1. 2025.
Report of the Trustees 15 months to March 2025
37

TNstees' Biographies
Sister Catherine Lloyd
has a background in formal education and ministry with
young people. firstly as a teacher. After further formation in
spiritual accompaniment and counselling using the arts, she
returned to work as a school chaplain in the Society's high
school in London. Afterfinal vows. Cath spent some timè in
the Society's mission in Indonesia where she worked in
teacher educatlon. theological formation and in a project
with street children. On returning to the UK. Cath seNed as
Novice Mistress in the Society and worked in the Formation
dep8rtment of the Conference of Religious of England and Wales, where with others she
developed inter-congregationalformation programmes. Afterfurther studies in organisational
change. Cath worked on a team which facilitated organisations and groups as they developed
areas ot strategic planning an(J leadership formation. Between 2008-2016 she served on the
General Council. Although this ministry was based in Rome. her seNice took her to many
different parts of the world. This exp8rience broadened her mind and opened her heartl I Cath
returned to her home province in 2016 and once again took up a ministry of facilitation and
spiritual formation in the UK and abroad. With colleagues she has worked as a co-facilitator
on General and Provincial Chapters and a variety of meetings for dlfferent religious
congregations. In 2019. Cath was asked to serve as Piovincial in England Wales and finished
hermandate in June 2025.
Sister Noellina Namusisi
has been8 Religiousofthe Sacred Heartslnce 12January1992
and is a memberoftheUganda-Kenya IUGKI Province. She has
seNed as Principal of a large all-girts high school of over 850
students. where she focused on the empowerment and
leadershlpformation ofyoungwomen. promotingvalues such
as love. unity, compassion, honesty and attentive listenlng.
She has also served as Mistress of Novices and held
significant provinclal leadership roles, including membership
of the Provincial Council and coordination responsibilities within her Province. At internatlonal
level. she is a member of the General Council of the Society of the Sacred Heart, seNing as
Councillorfor the Apostolic Priority of Education. Councillor for Spirituality. Councillor for the
one ol the new provinces. She was appointed trustee on April 22, 2025.
Report of the Trustees 15 monihs lo March 2025
38

Trustees. Biographles
Sister Sheila Smith
originallyfrom canada.took herfinalvows in 2006.A member
of the United States-canada IUSCI Province, she is
University Professor and has served in a number of significant
leadership roles wiihin the Society at both provinci81 and
international levels.she Is currently a member of the General
Council of the Society of the Sacred Heart and seNes as
Councillor lin chargel for the Apostolic Priority of Spirituality.
together wth Noellina Namusisl. She is also Councillor for
JPIC (Justice, Peace and Inlegiity of Creationl. In addition, she
serves as Councillorfor the one of the new provinces. She was appointed trustee on April 22.
2025.
*)
Sister Francisca Rodriguez
originallyfrom Spain, took herf Inalvows In 2006. A member of the
Sp8nish Province IESPI. she has held significant leadership and
coordination responsibilities at both provincial and international
levels, particularly in the areas of education. pastoral networks
and 8trat6gic planning. She is currently a Member ol the G8neral
Council of the Society of the Sacred Heert and serves as
Councillor lin charge) for the Apostolic Priority of Formation. She
is also CounclllDr for Education. alongside Noellina Namusisi lin
chargel- In 8déition, she serves as Councillor tor some of the new Provinces. She was
appointed trustee on April 22. 2025.
Sister Paula Grunei
W8s bom in Lancaster. Ohio USA. She entered the Society of
the Sacred Heart in 1980 and made herflnal vows in 1990. As
a rnemberofthe Unit8d States andthen Unitedstates-canada
province. she h8s seThed in various èducational and
governance Mini￿ries. She has been a boarding school
director and 8 school business manager. She has Set on the
boards ofsacred Heartschools inthe Usand C8nada. andshe
currently sits on the board of Maryville University in St. Louis,
Missouri USA. For the Soci8ty she has served as the Assistant Provincial Treasurer for the
United States Province, as an Assistant to the ug8nda-Kenya Provincial Treasurer and has sat
onvarious provincial committees. Priorto movingto Rome, she w8s servingasthe C8nonical
Treasurer of the Antilles Province and on the Provincial Te8m of the United States-canada
Province. Currently. she serves as the Canonical Treasurer General of the Society of the
Sacred Heartand was 8ppointed trustee on the 1stof December2025.
Report ol the Trustee5 15 months lo Narch 2025
39

Tru*ees' Biographies
6. Statement of Trustees, Responsibilities
The trustees are responsible for preparing the trustees. report and accounts in accord8nce
with applicable law and United Kingdom Accounting standards Iunitecl Kingdom Generally
Accepted Accounting Practice}.
The lawapplicableto charities in England 8nd Wales requlresthetrusteesto prepare accounts
for each flnancial period which give a true anl fair view of the state of affairs of the Charity and
of the group of the income and expenditure of the Charity and of the group for th8t period.
In preparingthese accounts. the trustèes are requlred to:
select suitable accounting policies and then apply them consistently"
observe the methods and principles in Accounting and Rèporting by Charities:
Statement of Recommended Practlce applicable to charities preparing their
account5 in accordance with the Financial Reporting Standard applicable to the
United Kingdom and Republic of Ireland IFRS 1021:
makejudgements and estimates thatare re8son8ble and prudent;
state whether applicable United Kingdom Accounting standards have been
followed. subject to any material departures disclosed and explalned in the
accounts- and
preparé the accounts on the going concern basis unless it is inappropri8te to
presumethat the Chartyand the group will continue in opèration.
The trustees are responsible for keeping proper accounting records that disclose with
reasonable accuracy at 8ny tirne the financi81 position of the Charity and enable them to
ensure that the a¢countg comply with the Charities Act 2011. appllcable Ch8rity (Accounts
and Reports) Regulations and the provisions of the constitution. They are also responsible for
safeguardingthe asset5 of the CharFty and hence fortaking reasonable stepsforthe prevention
and detection of fraud and other irregularities.
Signed on behalf of the trustees by
Chair of Trustees
Approved bythetrustees on:
J.b 3, 109£
Report ol the Trustees 15 months to Narch 2025
40

Independent A￿lItorS Report
7. Independent Auditor's Report to the
Trustees of Duchesne Trust
Opinion
We have auditèd the financi818t8tements of Duchesne Trust (the '¢harity'l for the period
ended 31 MaTch 2025 which comprise the statement of financial activities, the balance sheet,
the st8ternent of cash flows and notes to the financial statements, including significant
accounting policies. The financial reporting frarnework that has been applied in th8ir
preparation is applicabl8 law and United Kingdom Accounting standards. including Financial
Reporting standard 102 The Financial Reporting Standard applicable in the UK and Repubue
of Ire18nd (Unitèd Klngdom Generally Accepted Accounting Practice),
In our opinion. the financial statements:
give a true and fair view of the state of the charity's affairs as at 31 March 2025 and
of its incoming resources and application of resources, for the period then ended:
h8ve been properly prepared in accordance with United Kingdom Generally
Accepted Accounting Practice. and
have b88n prepared in accordance with the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing IUK) IISAS
(UK)) and applicable law. Our responsibilities under thos8 Standards are f urther described in
the Auditor's responsibilities forthe 8udlr of the fin8n¢ial statements section of our report. We
are independent of the charty in accordance with the ethlcal requirements that are relevant
to our audit of th8 financial statements in the UK. including the FRC'S Ethical Standard. and
we have fulfilled our other ethic81 responsibilities in 8ccordanc8 Wlth these requirements. We
believe that the audit evidence we have obtained is sufficient and appropriate to provide a
basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements. we have concluded that the use of the going concern
basis of accounting in the preparation of the financial statements is not appropriate due to the
transfer of all undertakings as at 31 March 2025. However, no adjustments 8rise as a result.
Our responsibilities and the responsibilities of the with respect to going concern are described
in the relevant sections of this report.
Other information
The other inform8tion comprlses the information included in th8 annual report other than the
1Snancial st8t8ments and our auditor's report thereon. The trustees are responsible for the
Report of the Trusiees 15 months to Narch 2025
41

IndependentAuditorfs Report
other information contained within the annual report. Our opinlon on the financial statements
does not coverthe other intormation andwe do not express anyform ofassurance conclusion
Ihereon. Our responsibility is to read the other information and. in doing so. consider whether
the other information is materially inconsist8nt withlhe linancial statements or our knowledge
obtsined in the course of th8 audit. or otherwise appears to be materially misstated. Ir we
identifysuch material inconsistencies or apparent material misstatements. we are required to
determine whether this gives rise to a material misstatement in the financial statements
themselves. If. based on the work we have performed. we conclude that there is 8 material
misstatement of this other information. we are required to report thatfact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the followlng matters in relation to which the Charities
(Accounts and Reports) Regu18tions 2008 requires us to report to you if, in our opinion:
the intormation given in the financi81 statements 18 inconsistent in any material
respect with th8 Trustees. report: or
sufficient accounting records have not been kept- or
the financial statements are not in agreement wilh the accounting records. or
we have not received all the information and explanations we require for our audit.
Responsibilities of trustees
As explained more fully in the st8tement ot Trustees. responsibilities. th8 trust8es are
responsible for the preparation of the financial statements and for belng satisfied that they
give 8 true and fair vlew, and for such internal control as the trustees determine is necessary
to enable the prep8ration of financial statements that are free f rom m8terial misstatement.
whether due to fraud or error. In preparing the financial statements. the trustees are
responsible for assessing the charlty's ability to continue as a going concom, disclosin& as
applicable. matters related to going concern and using the going concern basls of accounting
unless the trustees either intend to cease operations, or have no realistlc 81ternative but to do
so.
Auditor's responsibilities for the audit of the financial statements
We have been appointed as auditor undei section 144 of the Charities Act 2011 and report in
a¢¢ordanc8 With the Act 8nd relevant regulations made or having effect thereund8r.
Our objectives are to obtaln reasonable assurance about wheth8r the financial statements as
a whole are free from material misstatement, whether due to fraud or error, and to issue an
auditor's report that includès our oplnion. Reasonable assurance is a high level of assurancè
but is not a guarantee that an audlt conducted in accordance with ISAS IUKI will always detect
Report ol the Trustees 15 months to March 2025
42

IndependentAuditorfs Report
a material misstatement when it exSsts. Mlsstatements can arise from fraud or error and are
considered material rf, individually or in the aggregate. they could reasonably be expecte(J to
influence the economic decisions of users taken on the basis of these financial statements.
The extent to which our procedures 8re capable of detecting irregularities. inclu(Jing iraud, is
datailèd below.
A further description of our responsibilities is av8ileble on the Financial Reponlng Councll's
website at: httPS:Ilwww.fr¢.org.uklauditorsresponsibilities. This description forms part of our
8uditor's report.
Other matters
Your attention is drawn to the fact that the charity has prepared financial statements in
accordance with "Accounting ané Reporting by Charities- Statement of Recommended
Prathice applicable to charities preparing their eccounts in accordance wlth the Financi81
Reporting Standard applicgble in the UK and Republic of Ireland IFRS 102) 18s amendedl in
preference to thè Accounting and Reporting by Charities: Statement of Recommended
Practice issued on 1 Aprll 2005 which is referred to in the extant regulations but has now been
withdrawn. This has been done in order for the financial statements to prowde a true and fair
view in accordance with current Generally Accepted Accounting Practice.
Use of our report
This report is made solely to the charity's trustees. as a body) in accordance with Part 4 of the
Charities (Accounts and Reports) Regulations 2008. Our audfi work has been undertaken so
that we might state to the charity's trustees those matters we are required to state to them in
an auditor's report8nd for no other purpose. To the fullest extent permitted by law, we do not
accept orassume responsibilityto anyone otherthanthe charity and the charity'strustees 88
a body, for our audit work, for this report, or for the opinions we have formed.
Haines Watts Swindon Limited (Senior StatutoryAuditOfl
Chartered Accountants
Old Station House
8tion Appro8ch
Sv¥indon
Wiltshire
SN13DU
Date:
Haines Watts Swindon Limited is eligible for appointment as auditor of the charity by virtue ol its
gligibilityfof appointment 8s auditor of a company under seciion 1212 of the Comparbies Act 2006.
Repori ol ihe Trustees 15 months to March 2025
43

Accounts
8. Accounts
8.1 Group statement of financial activities
Duch•8ne Tru8t
Group 8tatsrmnt of fIn4n¢￿1 a￿1¥111•$
F¢rth• porlod from 1 January2024to 31 klaTch 2025
Ywto31
￿￿ember
2￿23
las reststèll
Tetal
Is n￿nth￿l0 31 M•r¢h 2025
Unr•8trid•d Rgstrki•d
Total
In¢on* Iro
[k)nal￿S and kgac
h¥e5kneThts and inth$t recav￿e
Total inc<xn8
1.059.841
2.116.785
3.170.626
154.550
3J171.357
3.231.907
1.214.391
&194.142
408.533
3.725.622
4.894.742
8.620.364
Expendltur• on.-
R81shg bJnds
Charikble aclMti85
. Supporung the Ch￿l￿ble work of Ihe So¢loty
ofthe Sacred Heart arMJ Its membws
5.r4.456
1.14U90
518.
4.120.484
9.679.857
15.054.313
2A￿017
3.6*.107
12174.474
1&￿3.420
6.210.353
10.330.B37
TraTrstsofr%t assets to th¢ Duch88￿Trust C
15ee betrNI
Total •xp•ndllur¥
20 62.192.027
88.717.922
77246.340 92.357.029
150.909.949
109.e03.369
10.330.837
N•t oxpondtture b•fc*• n•¢ im*•#lm•nt yln8
7 174.Q89.7141 (89.125.122) 1163.194.8361
11.710.4731
N•tgalns on itW8Skn￿ts
N•t1oxpondttur•l incon* and n*¢ In
funds
12
7.562.104 11.008A87
18.570.991
11.491.109
IQ6.507.8101 17&110.2351 1144.623.8451
9.779.836
R•widllatlon of funds:
Fund balances brought foTh43rd a5 WthiOU5ty sta
Prior yoor ad1ts$lme￿S
Fund balances brwht foward a5 re5tstrAI
Total fijnd balances carrknj fcrward at 31 htr¥ch
2￿25
.790.508
72.780.374
142.570.882
133.047.571
10
3282.
86.507.610
S.335.811
78.1162JS
Z052.963
14&023.845
1.7￿.696
134.844.209
144.623.845
Al r￿￿[sed ard ID55È$ are in¢1￿￿ed In the abjve staiernerrtof finan¢W 8cl¥Ab"8S.
Wllh effect fvcm mklrf4iton 31 Wch 2￿25. th8 ac￿11"e5, asset5 and Irablities ef the ChartyW￿ transferred to th8
D￿chesrE Twst CK) (Ch￿ty R8gl$tratirm 12100661, a CWlet4e In¢orpoTaW Organ153l¥M, 1$08 note 20 to the
accounts). P6 ofthatdate, Ihe thartty becarnedormwl
Report of the Trustees 15 months to March 2025
44

Accounts
8.2 Comparative group statement of financial activiti&8
Duch•8n• Trust
ConyaratlV• 9roup statèmènt of fIn￿Gla1 actl¥itie$
For the >par endgd 31 D•c•n*•r 2023
As restAt¢d
Ur￿es￿t￿l Restricled
2023 Totsl
Not¢
Incon* from..
DonatK)ns and ba￿leS
Invesknents a￿1 interest
Total Inco
1.046.W
2.234.480
3.2B1.282
2.678.820
2.660.262
5.339.OK2
3.725.622
4.894.742
8.620.364
Eyndltur• on:
RaÉsiNJ fun(Js
Cha￿ta￿e ac￿￿￿0S
. Supp￿ThJ ts ch*aNè wc*k of tha s￿Iety
£{t￿ Sacr￿1 aNI tts m9mbers
Totsl oxpond￿Ur*
3.364.174
756.310
4.120.484
4.109.191
7.473.365
2.101.IK2
2.657.472
6.210.353
10.330.837
Net {¢xpèndltur•) IncL¥m b•f•x• not Invostn*nt
7 14.192.0631
2.481.610
11.710.473)
Nat gains on inveslmwts
Net and nèt n￿v•m1nt In funds
12
5.243.402
1.051.319
6.246.707
8.728.317
11.4￿.109
9.779.636
Rèconclllatlon of funds:
Fund baknces broughtforward 3$ th￿SlY slated
Prior year adjustments
Fund baiqnces b￿ghtfOrWard as resta￿
65.458.291
67.591.220
1.796.698
69.387.918
133.047.511
1.796.698
134.844.209
10
85,456.291
Total luThJ balences carried forw8r(18t 31 D￿ember 2023
66.507.610 78.116.235
144.623.845
Report of the Trustees 15 months to March 2025
45

Accounts
8.3 Charity statement of financial activities
DuchD8no Tn*t
Charltystat•m8nt of flnanclal activitiE$
Fortho p8rlod frcth 1 January2024to 31 Mar¢h 2025
Year to 31
D•unknr
2023
la8 r•stat•d)
Tclal
IS Trmnthsto 31 M*r¢b 2025
um951rfc￿Y
R¢slrfcied
I[￿0￿¥ Iron
Donation$
hv85trnents and knlve5t recav￿￿
Total Inco
1.108.510
2.116.453
&224903
154.5
&077.351
3231.9D7
1.261060
5.193.810
6A56.870
3.727.519
4.894.722
8.822.241
Exppndllurg on:
Ralskng fvnds
Charitsbloa¢tiwbes
. Supporuw the ch2rf1abl8wcfk of the
Socwoflhe Sacred Heart and its memt4rs
&374456 1.14U90
6.518.846
4.120.484
10.041.207
15A15.663
2.494.617
1639.107
12.535.824
19.054.770
6.793.250
10.913.734
Tron51er olnettyssots to the Duch88ne Trust C
lseo bdowl
T*)tal•xp¢ndi¢ur¢
20 60.941.145
76.￿¢01
88.717.922 149.659.007
92.357.029 118.713.837
10.013.734
N•1•x￿ndIIUl* l>•tty• Sn¥o8lm•nt gal
7 171131.8481 189.125.1221 1161256.9ffj
12.291.493}
Netgains on inve5trnwts
14•t18xFendlturo1 inm n*1 nb)¥•m8nt In
frJnd8
12
7.561104
11.008.q87
18.570.991
11.4gXI.109
IW56g.741) 178.11623¥ 1141683.9701
9.198.616
R•eonclllatlon of funds:
Fund babn¢es tKought as Fw4bLtsly statoj
Prfor year &Jlustm8nls
Fund baL9r￿e8 trmught kfwavd 8$ rests
Tolol fund ba*r￿ carried f￿ard at 31 Xi2S
fj8.852.639
1282.898
fjS.S69.741
n.780.374
141.633.013
132.N).eA2
5.3A861
2.052.96J
1.M.698
n.116235 143.6es.978 134.4B7.360
10
143.685.976
All rpco8nised galns and IossÈ5 are Induded In above 5takmentof Ananclal activitiÈs.
Wth effea from mldnlthton 31 ￿rth 2025. the activifies, asset5 and Ilabilltlps of the charftyweve tran5feThedto the Dt¢che5ne
TrustCIO (Charlty fteBisttstion No I21C￿l.3 Chaniable IncorporatÈd O￿anIsatIon, (see note ))tDthe atcountsl.Asof thatdate.
the ch3rity betame dormant
Report of the Trusiees 15 months to March 2025
46

8.4 Comparntive Charity statement of financial activities
Duthesne Trust
Cony•r¥tiv• ¢h•rity sL*m•nt ol flnanclal actlvltles
For tho s•ar end•d 31 DeCen￿er 2023
As rastatad
Re5tri¢tsd
Unrestrkted
2023 Total
Incom• fron
1.048.699
2.234.460
3.283.159
2.678.820
2.fj60.262
5.339.082
3.727.519
4.894.722
8.622.241
Investments and interest receNatrle
Totsl incoTh
Exp¢ndltvr¢ on:
Raislng funds
Chartstle actiwties
. Supporbng the charftable work ofthe
Sc¢￿ty ofthe Sacred Heart gnd its members
Total •xp•ndltur•
3.364.174
756.310
4.120.484
4.692.088
8.056.262
2.101.162
2.857.472
6.793.2
10.913.734
Nèt l•xp•ndltur•l Inc4MM ￿fore n•t In¥estnTrnt
galns
{4.773.1031
2.481.610
12.291.493}
Net gains ￿ investsnents
Net Income and net nK*v•Th*nt In funds
5.243.402
470.299
6.246.707
8.728.317
11.4W.109
9.198.616
Reconclllation of fvnds:
Fund balances t￿ought foMar(l as prevlmty stsl&Y
Prfor year adjustrmenls
Fund b8lan¢es Lyought fomard as reststed
Totsl fvnd balances carrieA forward at 31 Decemb
2023
85.099.442
67.591.220
1.796.698
69.387.918
132.￿.662
1.796.698
134.487.3eii
10
65.099.442
65.569.741
78.116235
143.885.976
Report of ihe Trusiees 15 months lo March 2025
47

Accounts
8.5 Group and CharItybalan￿ sheets
Dythsne Trust
Group and charity1k*n￿ $h•ets
a at31 March 2026
Grou
la5 ￿tated)
31 De¢emb8r
2023
las rests￿>
31 March 31 D8cernber
2025
31 March
2025
Flxed as80ts
TaThJlJe assets
ms1m￿ts
329.268
179.107.211
179.436.479
12
179.107.211
179.107211
Current a809ts
Debtors
Cash at bank aTrJ kn ha￿1
13
3tW.871
4.663.771
4.992.642
3(￿.574
3.785.138
4.085.712
Liabilities
c[￿rt0[S. ￿OUnts due
witNn one swr
14
37.087.255
36.788.926
Net vjrrent Il•blllUo8
32.094.613
32.703.214
Totsl assets less¢urrgnt lab11￿1#$
147.341.866
148.403.997
Cr•dtto￿ anr•unts lallkng due aftgr
s*ar
1S
12.718.021)
144.623.845
I2.718.￿21}
143.685.976
Total s)et a￿ts
Repr8unt•d by.
Funds and r8SeF¥OS
R•*rf¢t•d fund%
16
78.116.235
78.11&235
Unr•strkted fund•
D8sunated fij￿S
TangiNe fi￿1 a589ts fuTrJ
. G&￿ra1 lu￿$
17
18
61.480.890
329.268
4.697.452
144.623.845
61.480.8
4.¢X8.851
143.6S5.976
Apwo¥￿ tyl￿ tru$lees aTrJ sign&1 on lhe￿ bth*l iyi:
Tw5tee
Date..
Report of the Trustees 15 months io March 2025
48

Accounts
8.6 Group cash flow statement
Ywto
31 3% Oec•mow
Sg%295
S>)2mg 4.743ffjL
I20￿1
5.3x793
21.151.770
ns
I.¥￿03
154N3
i.N6a03
T54643
I11,IT￿l 2*.￿.115
tth*¥J(*n •qub4•knotstr•rdf•rr•dtoth•
Ducts*￿T¥￿1¢￿J l¢hwtyRo9&lr4t*n H￿thr
1210NI
B 3&fft7A01
IT.139
)ffj15
31097ffj01
t31 Mwch2ts1J
riM•atoth• ￿￿•￿￿*01¢#hkn•lWth1 p•rkn8tts31 li￿2020
w•d
Yurto
31114r¢h 31 D￿Tro
IW6234151 9.719A&I
Y2*1
174ffj7P
l(s$e>l
15.1x1421 14A94.7421
In T¢Sp￿1 to by
Pro￿r￿￿3 Lrf
IobBeJl
OB12b3 27XA17
121tWI
{t)•rtwel trKTe4tsèitsdeb*
1L4139
I14&￿1)
2.1￿14
nelthbl
4*•***n¢•
¥Y ¥Arth
cÈ¥hdlb￿sThY1nh0r￿
C￿h Utsh
46U771
1576.O)11
14 14efj6DI
2B.413B>J
310>7.th)1
17*106S1
T(*41¢￿v￿Gmh*qurIt1I•n
11.179.240
788th?
Report of the Trustees 15 rnonths to March 2025
49

A¢countingPolicles
9. Accounting Policies
The prlnclp81 8ccounting pollcles adopted. judgements and key sources of estimation
uncertainty in the preparation of the accounts are laid out below.
Basis of accounting
The Duchesne Trust is a regulated trust in the United Kingdom. The address of the registéred
office isgiven inthe Ref.etonoOL￿mlnIStralU0rtPtaiIs ofgroup ofthls reportand accounts.
These group accounts consolidate the results of the Trust and the entity it controls being the
Soci8ty ofthe Sacred Heart Generalate {8lso known 8S the Motherhouse of the Society)
The nature of the group's oper8tions and principal activities are to promote charitable work
carried out bythe Societyofthe Sacred Heart (The Society)
The group constitutes a public benefit entity as defined by FRS 102.
The accounts have been prepared in accordance with Accounting and Reporting by Charities..
Statement of Recommended Pr8Ctice applicable to charities preparing their accounts in
accordance with the Financial Reportingstandard applicablè in the UK and Republic of Ireland
(FRS 102). the Charities Act 2011 and UKGeneraUykcepted Practice.
The Charity constitutes a public benefit ontty as defined by FRS 102. The accounts have not
been prepared on 8 goingconcern basisbecause.witheffectfrom midni8hton 31 March2025,
Ihe activities, assets and liabilities of the Charity and Its group were transferred to Duchesne
Trust CIO ICh8rity Registration Number 1210066), its Successor charity-
As such, the accounts have not been prepared on 3 going concem basis. No 8djustm8nts
have been necessary to the carrying values or classification of assets and liabilities bec8use
the going eoncern b8sis has not been followed.
The accounts have been prepared under the historical cost convention, modified to in¢lu(Je
certain Items at fair value. The accounts are prepared in Euros. which is the functional
currency ofthe group. and numbersare rounded tothe nearest Euro.
The significant 8ccounting pollcies 8pplied in the preparation of these accounts are set out
below. These policies have been consistently applied to all periods unless othemise stated.
Further details of the basls of prepar8tlon of the accounts are set out b81ow under 'Basis of
preparation and cessation ot operations,.
Consolidation
Consolidation take9 plac8 With third parties when the Ch8rlty determines that:
Report ol the Trustees 15 months to March 2025
50

AccountingPolicies
the third-p8rty entity is flnancially dependent upon the Charity and would not be
able to continue without the Charity's support, and
the Charity is able to control the actions of thethird party either directlyor indirectly
due to the authority it has via the trustees of the Charity.
The accounts are consolidated on a line by line basis with intra - group transactions belng
eliminated on consolidation.
Criticala¢counting estimates and areas ofjudgement
Preparation of the accounts requires the trustees and m8naEement to make significant
judgements and estimates.
The items in the accounts wher8 these judgements and estimates hav8 been made include
those in respect to:
the estlmatlon ot legacy income to whlch the group has entitlement but has not yet
received.
the alloeatlon ot certain expenses between expendlture classifications.
the useful economic lives attributed to tangible fixed assets used to determine the
annual depreciation charge.
the assumptions adopted by the trustees in determining the value of any
designations requlred from the Charitys 8ndlor group's general unrestricted
funds: and
estimating future income and expenditure flows for the puipose of assessing the
Charity's and group's going concern Isee below).
Basis of preparation and cessation of operations
With effect from midnight on 31 March 2025. all activities, asset8 and liabilities of the Charity
and tts group were tf8nsferred to Duchesn8 Trust CIO Icharity Registration Number 12100661,
a Charit8ble Incorporated Organisation and the Charity's successor Charity. Consequently.
the Charity and Its group ceased to operate in their existing form at the end of the reporting
period and as such these 8¢counts have not been prepare(J on a goingconcern basis.
No a(Jjustments have been necessary as a resuli ofthe accounts not being prepared on a going
concern basis. The assets and liabilities were transferred tothe successor CIO 8ttheircarrying
values, and the Charity's charitable activities continue within the su¢¢essor CIO. Accordingly*
the trustees conslder that no 8djustment is requireo to the c8rrying values Dr classification of
tho assets and liabilities included in these accounts.
The most signiticant areas of judgement thEt affect Items in the accounts are det8lled above.
Report ol the Trustees 15 months to March 2025
51

Accounllng Poilcles
The trustees have considered the position of the successor CIO and are satisfied that it has
sufficient resources to meet its li8bilities as they fall due. The principal factors which may
affect the carryingvalue of assets held bythe successorCIO in the year ending 31 December
2025 are the level of investment return and the performance of investment markets.
Income
Income is recognised in th8 period in which the group is entitled to receipt and th8 amount can
be measured with reasonable certainty.
whe￿ Income is receNed with specific criteria for its use or future use the income is recorded
as restricted.
Income comprlses donations. legacies. Investment incomè and Interest receivable
Donations are recognisedwhen the Charity andlorgroup has confirmation ofbothth8amount
and the settlement date. In the evènt of a donations pledged but not received, th8 amount is
accrued for where receipt is considered probable. In the event that a donations Is Subject to
condltions that require a level of performance before the Chayty andlor group is entitled to the
funds, the income is deferred and not reeognised untll elther shoes conditions 8re fully rnet.
Of where the fulfilment of those conditions is wholly within the control of the Ch8rity andlor
group.
Entitlement Is taken asthe earlier of the date on which either: the Charityandlorgroup is aware
Ihat the probate has been granted. the estate has been f in811sed and notifications has been
made by the executor to the Charity andlor group that 8 distribution will be made, orwhen a
distribution is received trom the estate. Receipt of a legacy. in whole or in part, is only
considered probable when the amount can be measured reliablyand the Charityand/orgroup
has been notified of the executor's intention to make a distributlon. Where legacies have been
notrfied to the Charity andlor group, or the Charity andlor group is aware of the granting of
probate. but the criteria for Income recognition have not been met. the legacy 1$ treated as
contingent asset and disclosed if material. In the event that the Eift is in form of an asset other
th8n cash or a financial asset traded on a recognised stock exchange, recognition is subject
to the value of the gift being reliably measurable with a degree of reasonable accuracy and the
title of the asset having b8ingtransferred to the Charlty andlor group.
Investment income is recognlsed once the dividend has been declared and notification has
been Teceived of the dividend due.
Interests on funds held on deposit is included when receivable and the amount can be
measured reliably by the Charity. this is normally upon notification ot the interest Paid ot
pAyable tythe bank.
Report of the Trustees 15 monihs to March 2025
52

Accountingpoiicies
Services provided by members of the Societyofthe Sacred Heart
For the purp08e of thes8 accounts, no value has b8en placed on administratlve and other
seNices provided bythe rnembersofthe Societyofthe Sacred Heart (the Society).
Resources expended and the basis of apportioningcosts
Liabilities Sre rÈcognised as expenditure as soon as there Is a legal or constructive obligation
committing the Charity andlor group to make a payment to 8 third paty. It is probable that
Iransf8r of economlc benefits will be required in settlement and the amount of the obligation
can be measured reliably.
All exp8nditure is stated Inclusive of irrecov8rable VAT and similar indirect taxes.
All expenditure is accounted foi on an accruals basis. AU expenses are allocated or to th8
applicable expenditur8 headings. The majority of expenditure is directly attributable and any
apportionment between headings is negligible.
The classification between activities is as follows:
expenditure on raising tund8 comprisès investment management fees and the
costs of servicing the 108ns advÈneed to the Charity and group by Provinces of the
Society. The costs of servicingthe108ns are based on the net returns received from
the Charity's investment assets including curFency gains and losses.
expenditure on charitsble activities includes all costs associated with furthering
the charitable purposes of the Charity endlor group by supporting the charitable
workofthesociety and that of its members. Such costs include:
grants and donations payable which, in the main. relate to the support of the
other parts of the Society. Grants payable are included in the statement of
finan¢i81 activitieg when approved and when tho intended recipient has either
received the funds or beèn informed oythe decision to make the grant and has
satisfied all performance conditions. Grants approved but not paid at the end
of the financial year (including multi-year grants) are accrued and hove been
discounted of the present value of the future cash payment where such
discounting is material.
o costs of administering anL1 oper8tlng the Motherhouse of the Society. Such
expenditure. which includes administrative and management costs, enables
the members ofth8 Societyto furtherthe charitable work of the Society in the
areas of the advancement of the Roman Catholi¢ faith. the advancement of
education, the relief of poverty. etc. Details of specitic areos of such work are
provided in the accompanyingtrustees, report.
Report ol the Trustees 15 months to March 2025
53

AccountingPolicies
expenditure includes governance and sundry support costs. Such costs relate to
the public accountability of the Charity andlor group (including audit costs) and
costs in respect to its cornpliance with regulation and good practice.
all expenditure is stated inclusive of irrecover8ble VAT and similar indirect taxes.
Tangible Flxed Assets
All assets costing more the e1,000 euros and whlch have an expected useful life exceeding
one year are capitalised.
Tangible fixed assets are stated at cost lor deemed cost} less accumulated depreci8tion and
accumulated impairment losses.
Freehold land and buildings. and Major improvements to buildings. are Included in the
accounts at cost and depreciated 8t 3% on a straight line bas1S.
Expenditure on the purchase and replacement of furniture and equipment is C8Pltalised and
dépreel8ted at 140h on 8 sts8ight line basis.
Motorvehicles are capitallse(J and depreciated over a four-year period. on a straight line basis.
in order to write off the cost ot each vehlcle over Its estimated useful Ille.
Investments
Listed investments arè 8 form of b8slc fln8nci81 instrument and are initially recognised attheir
transaction value and subsequently measured at their fair value as at the balance sheet date
using the closing quoted market prlce.
Fln8ncial investments are a form of basic financial instrument and are initially recognised at
their transaction value and subsequently measured at theif fair value as at the balance sheet
date using the closing asset value provided by the investment managers
As noted above, the main form of financial risk faced by the Charity andlor group is that of
volatility in equity markets and investment markets due to wider economic conditions. the
attitude of investors to investment risk. and chang8s in sentiment concerning investment
classes and within particular sectors or sub sectors.
Realised gains lor losses) on investment assets are calcul8ted as the difference tse￿en
disposal proceeds Bnd their opening carrying value or their purchase value is acquired
subsequent to the first day of the financi81 year.
Unrealised gains and losses are ¢alcuLated as the difference between the fair value atthe year
end and their carrying value at that date. Realised and unre81ised investmentgains lor losses)
are combined in the statement of financial activities and are credited lor debited) in the year
inwhich theyarise.
Report of the Tiustees 15 months to March 2025
54

Accounting Policies
Debtors
Debtors are recognised at their settlement amount, less any provision for non-recoverability.
Cash at bank and in hand
Cash at b8nk and in hand represents such accounts and instruments that are available on
demand orhave a m8turityof18SSthanthree monthsfromthe d8teof acquisition. Depositsfor
more than three months but less than one year are disclosed as short term deposits. Cash
placed on dèposit for more than one year is disclosed as a fixed asset investment.
Creditors and provisions
Creditors and provisions are recognised when there is an obligation atthe balance sheet date
as a result of 8 past event. it is probable that 8 transfer of economic benefit will be required in
sottlement, and the amount of the settlement can be estimaled reliably. Creditors and
provisions are recognis8d at the amount the Charity andlor group anticipate$ it will pay to
settle the debt. They have been discounted to the present value of the future cash payment
where such cliscounting is material.
Loans advanced to the Charity Bndlor group by Provinces of the Society are included at the
aggregate of the amount advanced together with any interest or similar amount that has
accrued. All108n8 are repayable on demand.
Fund structure
Restrict8d funds comprlse monies faised tor. or their use restrictèd to. a specific purpose. or
contributions subject to donor imposed conditions.
Designated funds comprise monies set aside out of unrestricted funds for specrfic f uture
purposes or projects.
The tangible fixed assets fund comprises the net book value of the Charity andlor group's
tangible fixed 8ssets. the existence of which is fundamental to the Charity andlor group being
able to perform its charitable work and thereby achieve its charitable objectives. The value
represented by such assets should not be regarded. therefore, as realisable.
General funds represent those monies which are freely available for application towards
achieving any ch8ritsble purpose that falts within the Charity's andlor group charitable
objects.
Report of the Tru3tees I S months io March 2025
55

Accounting Policies
Foreign currencies
Assets and liebilities in foreign currencies are translated into Euros at the rates of exchange
ruling at the balance she8t date. Transactions in foreign currencies are translated into Euros
8t the rate of exchange ruling at the date of the transaction. Exchange differences are taken
into account in arriving at the net movement in funds.
Report of the Trustees 15 months lo March 2025
56

Notesto the Accounts
10.Notes to the Accounts
I InGrrfr• liom: Don￿￿ •nd bg•d•s
Group
As re51ated
Yearto 31 DeWni￿r2O23
Ur￿eSt￿¢￿l Resiricb
Totsl
15 to 31 Ilarch 202S
Unrestrlct•d Re¥trKt•d Totsl
fr(￿ Pro¥lnces. (knral
625.gC4
625.9
154.55D
310.924
123.013
I54.5￿ 1.214.391
840.663 2.500.000 3.340.e63
20.193
178.820
193.013
185.946
185.940
154.59)
0thordwllon$
310.924
123.013
1,059.841
1.046.81Y2 2.678.820 3.725.872
15 mnth¥ to 31 klar¢h 20Z5
UrK•Wlct•d R•sirlct•d Total
Y88fto 31 D￿erntr￿r 2Q3
I￿￿$￿cle￿ Restncted
Talol
Don8lk)rts ffom ts Kl)Iherhr*Jse ofthe SccBty
Donauorns frcm Profv. C*neral
Donali0Ths frryn pr￿1￿85. Sdth*arity
oth￿ (*)nob(r
Le9￿￿$ r￿ab￿
22.clal
22.OPO
840.663 2.S)J.Tr￿ 3.340683
178.820
178,820
185948
62&904
154JJO 154A50
30&*3
12&013
154AXI 126&060
185.946
123.013
1.108.51
1.018.699 26
.727.519
2 In¢on* fr•fft"Inv••lbmnts4nd It￿•re& ro¢olvabl•
8 restated
15 mnthsto 31 M•rch 202S
Yearto 31 De¢emb8r 2023
Unr•strlct8d Regtri¢ted Totsl Lknreytrictvd R#sirl¢t6d Total
knvoSth1ty11S
2.113W 1077.35T 5.191.221
2.921
1921
2.116.785 3.077.357 5.1M142
2.232.990 2.660262 4.893.252
1.49D
1.49)
2.234.480 2660.262 4.894.742
aank hlerest
s iests
YgarlD 31 Decemtér 2Q3
Tctsl
15 monthsto 31 M•rth 202S
Unre¥tri*d Restri¢tÈd
Totsl
h¢(xne from I)*sim￿lS
Bank Intwest
2.113.164 3.OTTJ51 %191.221
Z589
2.116.453 3.071J57 5.191810
2.232.9W 2.880.282 4.893252
1.470
1.470
1234.460 2.660.2K2 4.894.T22
Fleport ol the Trustees 15 months to March 2025
57

Notesto theAccounts
W¢hvty
1fjm?NthAto31 Marth*)25
Y6grb31 ￿P￿t￿r2025
[knTe8trtC￿ Restr¢ltd
7B&10J
1.144AYJ 1.•30M3 6x837
J10 1391.147
FinwKiry¢o$¥ hi re5￿t ioloaThs
advanc￿ byPrty4Ne$ oft￿ Soc
58&253 Z729.337
1.14&W &51&916
1384.174
2.729337
7*.310 4.120.4S4
%374A56
4 EApvnd*yr• on.. 8upprrfryth• oh7rltJW wo￿91th• 8ochtyofth• SKr4d H•4rt •nd It• Trrt*•rs
13ttMhJto31 Marth￿5
Yeerb31 D*omt*r2023
Lknre5trfr￿ R*stri¢ied
. Ordtsryahl to PrthirKqs
. F(Ymalw
. Exirwrfirtsryad
. SupFwyiofVIlL* Lantecentre
. Solklarfty
. 0th8rdonalNts paAI
1238.$12
1.617.775
&92&287
68%081
131x1 165&746
125D.000
551.317
$51.317
515289
51526
3Y515 1.IYJ7.516
4￿.254
6.4>)
18S.946
2.527.17
653.W1
446.254
126.359
185.946
21&1fj0
309.993
faclorondorthir￿cOMrnthO•￿ accthd
thB
188Dm 1671794
81m1
11.$71
24.837
679th57 2.494A17 1I174A74
4.109.191
267Z.794
24.837
2101.162 6210.353
Dwrt¢OSts In￿£ 51
stalwj
15m)ffjh•to31 Mar¢hJXS
Ygarto 31 ￿embAr2023
R•Atsict•d Lknra9trtct￿j Rostr¢i•J
Sc¢loty
3241322 32S5.891
&926207
56&001
2.6X746
6S3.CQ1
12SD.MO 44&254
12&359 th).061 8M.Q)
1&4.916
I￿.946
3.255.691
SSla17
651.317
515169
51S.269
354.515 1.007.Sl6
. Orf*nary86Y to Provfv
. F(*maUon
. ExtrwtharyddbPtt￿g[
Supwrtolvlla Lathcenb
.SoNdAtyk¥declS
.QthBrdLThtbrn
Fm*n¢iTrJeog1-
Z23U.512
1.U7.7T5
1527.179
131.567
21&1fjD
1X55P
(x%nmthd
$up￿rt¢0sts(￿Sl
1111124
81.671
10.041JOY
111024
81.671
$1.817 12.53&124
24.837
24.837
4692.088 2.101.162 &M.250
S Supwlco
GroLp•xlch*ty
31 2025
YeatD31 D￿emt¢1 J)23
Total iknr85lr￿I Restrfcted
Totyi
Unre•irlct•d
Go￿￿M￿¢e costs <1￿6)
Ottwpiofe95hinaifBes
hBryegelr•J
0￿sL￿sLvWlcOs1ts
E•A1Z
18.t
98.412
18.065
138.79))
14.e42
12.
14.642
12.999
11
24A37
11.671
81.671
24mT
Report of the Trustees 15 months ro March 202S
58

NotestotheAccounts
6 covt¥
ISr￿nts YWtty31
to31 Ilarch
20ATO
14.fj42
98A12
t4.t42
7 Net*xpu￿￿ttu1fj not
r451thy
15Thllrth Yeaito31
1•3111¥¢h Owemb
15momh•t•31
YeBrto31
Thb
st￿¢co1$<￿￿e8)
28.470
72.261
{38.790
IQ842
174.ts79
2U70
14.642
IX7901
¥¢*tfcpits*i r•nMffl•rthn of*•yN*nty•rMrtpbr4onn•l
23
Wau8s
SrK*IBKLtycc6ts
676.023
24DJ61
Grou
Yqaito31
Group
to
M*¢h
Iioroi.a20n
(l20.￿l-£Lty).
opwJYnutschartyv*thBgrwon ddtybtjtyt4y￿.
rr(4&s p&WIYe¥to31 Deunts2m-rKnl.
Tr*kt4trWh>jsec4t￿Q*knYL￿ Fi<xn•.
Repori otthe Trustees 15 months to March 2025
59

Notestothe Accounts
Gv•yp•Ad¢hartty
Y•lrto 31 0•<•￿￿r2
TC44 IlY•5￿C￿d
0&862.ttW n.740.)74
141.653.013 ￿[￿9.442 67.*1 229
In I95p￿t PrOth•dI￿s0cl&tY
tutwxtirm hi th• 31
I.796.￿
1.7*.698
1.7Wfj
3.99.1e3
2x2
.282.8*1
2 0&.1
6&W.741 78.116.•5 143.68*976 Ef442 a9.287.￿8
1.rnffj
181.487.319
QPimd5 In ￿ÈyÉ¥tO$1 E4c•m￿r2[21-al $t*•d
Alv51m¢nts fDrthpyDErethJ$i t*gthr2023..
7S&1
164154
4.942x1
811.1
•i¢ Pj$tth1i￿ fb
I27.￿6)
JJ5.704
403.760
IJS&P04
403.
iwtonih*StrMnl& ot 31 f*c8fftLwaJ2J
35>T4S
353.746
12411
256.266
5)1.241
Dl.2411
T.
22Q.641
.fj41
D611
1220NII
rtOCl455th*bir*th￿c¥¢￿￿ by
12nk33n
12.Xg.$3TI
1.¥ie.osx
IL￿
(le￿.202)
2010.252
1165.9151
OqQ.4041
4 040.404
3.$39.1
Nel IhSYWto31 tY•mbwW2Y.4J
470Th &71J.J17
56*7
1 7&11É.236
143A•6.•75
DDfwTtyr￿23l￿. W1.241 r&ld
mth*lo 8 b￿k
¢¢1 lo d￿a￿anG￿Tr￿ltlIJ1oth&ty￿ h•4
Report ol the Trustees 15 months to March 2025
60

Notes lothe Accounts
11 Tanglbh flx•d ass•ts
P&nL
Land and
bulldings
and
tor
tiwJ$ vehlcles
2025
Total
Grou
At 1 January 2024
(Jitiow
Transfer of nel 8ssels to the Duch8sne Trust C
(note 201
At 31 M9rch 2025
5.842.420
515.010
6.304
18.2rAJ
6.375.630
5.842.420
521.314
16.21KJ
6.381.934
D•pr•ttation
At 1 January 2024
Charge for period
Transfer of nel asset5 to the Duch￿￿¢ Trust C
Inole 201
At 31 V￿ch 2025
5.603.066
47.814
425.096 18.2(KJ 6.lJ46.362
24.447
72.261
5.650.880
449.543
18.200
6.118.623
Net l)ook valu•8
At 31 2025
At 31 D￿ember 2023
239.354
89.914
329.268
l tsrKJitrAg flxeA assets beloNJ to Ihe Flthorhou$o of the Soclety. The charty has r¥) taroitAe fixed as50ts.
is likely that there are material drffere￿e$ betsveen th8 open market values ofth& groLV'S land and
bu51dSngs and thdr ￿1 bwk value5. These ￿se from the ¥p8cialist nature clsc¥ne pro￿rtIeS and the
effects of infiation. The amour* of $u¢h dtfferences cannot be ascert¥in•d wlthout incurrTng significont
Costs. whi¢h in th6 opinion of the tNslees. is not justified in temis of the bonèfit to the user5 of Ihe
accounts.
Thwe were no copitsl commItrn￿ as at 31 Varch 2025131 Dec￿b￿ 2023- rMel.
Report of the Trustees 15 months io March 2025
61

Notestothe Accounts
12 Inv•¥tmrts. Group￿1 Chllrlty
rest*ed
31 March 31 D8cember
2025
2023
FknarK4al Investments atfakvalue 1rnHrket￿knl
Cash ha￿ by Inv8sfmentm8nag8rs
173A49.212 1SO.69&381
17A10.5S1
28.413.830
191259.703
179.107I11
191259.763
TmS18rol￿t as5&5 to ts Duch68r* Tmstck) Inote 201
At 31 Vorch 2025
179.107.211
Coslof inb*stm8nts
135m8.844 138m2.891
31 March 31 D8cember
2023
Inv•sbnont8
D￿nIng fair v81u8lmarkel ¥akJel
W irtom6 reIn￿s￿ IwNhYwinl
t ca5hwithdrèwa
N*t unre815ed in¥estmertt wns
F*val
m#rktstv￿
at 31 ￿r¢h 2025
1aOA93.3B1
180.413.744
12.993.032
119.950.5031
{8.80&1921 11.259.Wg1
18.570.991
11.4￿.109
1n.449212
180.693.381
Fin5￿ClE1 Invo$kn￿¢S h8bJ 8t31Ntr*ch 2026 1￿me￿1&tetyprfQrto ts tr8n5ferto Duchès￿ Tr￿t CD Corn￿$¢d t
rest8
31 31 Dat￿)ber
2025
2023
Equ￿88
FI￿ Interest securit
Altomatiw88 lexcludin9 wowty)
Propwty
100.937.681
05.785270
22.913.7r3
20.152.130
35.098.B35
X1251216
14Ag8.973
I4.5￿76$
173.449212
150.693.3B1
17.810.$51
28A13.830
191.259.763 179.107111
Cash
13 D•btty
As résta
31 Mar£h 31 Dewnber
2025
2023
31 M¥¢h 31 Docernber
202S
149A36
151.138
8297
308.871
149.436
151.138
V8slmerrtlrwn¢ ffje0￿t4e
0th8rdebto
143252
143252
143252
143.25
300.574
Trartsfer of ngt8$$9ts DUcl*Sn8Tr￿tC￿) Inote 201
308A71
)0.574
Report of the Trustees 15 months to March 2025
62

Notesto the Accounts
¢hgV
31
2025
31
$1 Derwnb
?Q2J
2023
20?5
40m279
lJO3.•70
1.Jb1170
i￿￿79
4$6ts79
Y7.1$2
731.128
547.1
1.128
200M03
sbffgw9raD￿OJr
30.152
3.746
3￿.44ts
1221J137
57.087.2SS
179.16S
9th4
42X.35B ￿.T8&.926
9ffj84
4XT13287
42.TlJ2•7
ST￿￿7&5
31.7e8926
2￿5
2023
18SA63
I.Tq•.3DJ
6293
40.27027
30401.T03
2.729J37
33.SBS.683
4￿nce rwrledfv•
l FQth2015.LluthpRneTru$tCIO(*E5U(￿55¢Tthé￿fyk￿D￿InÉT￿1UhJ&I￿￿l¥ry￿￿OIIrthllIOM clthe
Dunrygtheiwrto31 L*•mbèr2rr23.th4 TN4I¢ommYaDdbp•yadDnH￿ D1￿,eD2,￿*jkmI*1I¥TrFrWnLxoIth1 Soi*
PWPEtty. Th15 Dwbtsi202J.No&sco￿￿1ts￿Wo•
4p￿1¢dIn￿•4GG0llDts¢fthltI¢W TPAS h•& Thrr¥¢￿4DC¢rfI￿*dbYwsy￿* 0[￿r)￿lI￿¥S￿&nlr•l￿QthlIn￿05ewllu￿ts($e•
1026
2D23
2026
$47.11
822.76T
151
4JU24
I.JI6A22
496.6B8
1.4goot4
gD3.376
2.W.128
￿￿2.695
I.337￿￿*
1.4WJffj64
37LS16
2.369286
2.8S&956
2.111244
2.731AO6
m4r40
314¢-23
4.160.0
126495
I484￿00>
$53.746
ToiddDn4lDn5 paPblèatl JaN￿•￿I024
4.160.OCII
126fj
peri
le0131 KWrth1025
2.116A06
1.55&15
3W2995
fjupanathanty
J1 Mirch 31 OW
1025
ZD23
Oomlcffjs
It￿244
2719&21
2.71&021
14.
Report of the Trustees 15 months to Maich 2025
63

NotestotheAccounts
16 IIèsirfcied1￿￿
The inr¢m¢fvndsofthewoupan¢tharftylTrdude rnstithdfundso)mprfslny th•tllDWiW unwended b41ofK4$ofQ*wor& hddon*J51617
beap￿ie￿ tr¥pedl¢ oumoyes..
Al 1 JoTrJllry
2024
Tv•Mf•r• lo
ao
31 Fl•rrh
2Q25
F￿JreSuS￿nab¥ty1j￿o
*s1an pmlects bJnd
H£￿￿@t￿Jnd
I&7￿.929
1.446.371
88LI.935
2.982W42
58.739
35.7T6
154.550
3231.907
{3.449.4071
121ffj451
IQ.670.T72 18S.993.1361
210.131
{1.693.3961
127984
{1.031.3901
1154550
.fj3*.107
70.tIO.235
t1J108J87
ON.717.•22
31
DOC￿ts￿r
2D23
Al l J•rvJ&ry
2023
GalDB on
me ill*61ments
Tr8n8fèts
Futs&f£ ÉuAtsinablty•Jnd
%ian •Jr
08.057305
1.796898
789 Q18
f34 &97
5n81nOfj
49256
30.000
12.019981)
IS152451
185291
11J4.897}
6.060595
1ISh62
70A46
75.798.929
1.446.371
680.935
Uktain& Rtsg$i4 WJpport*Jnd
09.387.918
6.339 082
r2 85T4T2J
8.246.707
78.118.235
Jwr•
future su51akn*llty fvnd r8wes8ffls that beBn d¢Nted by [￿n￿eS clthe sor￿ in ￿$[￿Y￿e w thecell t
Gen¥al C￿pIer￿2o16 to'¢ommit as one i￿Y lo IIv8 our carnmuniiy ofwds by shadng (xjr resources Ihts
Sc¢l¢ty. e5pKk?Ily ourfinarKial r8swr¢es, In susialD oji If*¥nd missknn krihe future.. D8tall¥ orth• types offvTh*W set
ouLin an intsmai docurn8m trlled'Primtie¥ brFuLu￿ Sustwnabllty"
TheAslOD re￿￿￿$ rn¢n* wtlch ¥￿e ￿gIn¥llY fc<spechlc AS1￿ pW5.
rllagB
The wre$9rts mankns recehtd 10 f*l*taie M*nI￿anCe cfhenlwde ass*s lh2 SoBlety Dflhtr sar￿j ￿rt.
rwrties kncaled In JJt4ny, F￿￿.. Gtand CoteHu In the St4tes £lAmerfca,' Romo. **y.
T*sdidartiy fijnd r￿[esentS monty thai beBn (*Thted tobjnd pnl8¢ts kn support and ￿Ucate ¥4JlmYe orwps vtho I
Pwiy **er•the 818 Supr￿￿d Ihrowh Ihe drxl s￿￿1￿MeTht of1nd1¥￿UaI meThbers olthè S¢¢￿Y Funds areo*en
+Y1r￿ted towarf¥ al￿ tosk ntCè6$1118s of1￿.
Report ol the Trustees 15 months to March 2025
64

Notesto theAccounts
17 Dè8bJNiodfutyJi
in¢L*me fiJr¢$ ofttÈ9r(w4r￿¢h8ltyknxW*thfrS￿b￿￿r1J d05&nHtedfLrt$ V4hthh*e t*eTr$#¥$bJeoutofurff45tstbJ
f￿￿$fO[speCfft puwes..
1 J•nuxy2D24
la% r•iw•d)
Twhr•to At ￿ M￿1
2UZS
R¢¢¢fved
Expende
Forrn3Ocfflfw
So1￿￿ty[W
FU￿reSUs￿lTh￿tI￿￿fWd
1125.961
5.W3.OS9
&025.0
11a14.3
1111.f•)51
1215.150) 13.667.91
14.532.912> IIA92.iM8)
13.517.12
l &nw2)23
FurthBr
31 D￿0Mber￿24
2.8(V.9I9
6.029.428
125.012
18CQ.OCQI
1126.3S91
2.125.561
Fubjie 5U5tsinabiltyfur
G￿er91*fu￿1
6.025.txMI
47.426.860
67.480.8
50.244.065
737.741
3.554.946
4.481.
Fornmtlon lund
Trvform8v￿ fund rep[w￿fUndSthfit design*ed tocLryBrthoty*#as2tsSat￿ wlth the Inlttal and
ucat5M d memb8r5 ￿lhe￿iety ofthe*Teu ptWL
So¥dwtyfund
n* 9￿idarity fund repreEentsfundsthatha¥e b*n design￿ tofund prolefflst02uprortand gduc*e vulDerabl8wp8
who Ilve in whorethe prO)￿ts thI￿gh thedlrect invLl¥ernentof indihidvBI rnetnb*solthe
ety. Thls Isoften kn¥Brd$w¢men and children who lack th* ba*G
Fwtyr• sust4iThabllltyfwnd
Tre FutuTeSustalnabiiityf￿nd wre5eDtsfund&that hava been in reSp￿set￿the￿W fr￿D1heG￿eraI
Chèptsrof 2016 to'ttybmit(WfWve$88one Wyto Il¥$ouY(￿nm￿n￿yof￿oCés bysharingoui r￿)￿￿£s1hr0usho￿ltha
Sc*1￿, W￿l)I1Y wirinant￿l ie2ouic4 In crder to Sustain oui life m185vJTh ¥oithefuiur&'
TheGeneraletefund iepreseTrtsfundsihai hwe been de5ignathd to ￿sUrethE ¢ontinuin4gupwrof the General
Gwn¢lllrrfs ￿the50th￿1nd t￿luN￿l￿&￿th0•Um￿nIS1r*Ily6•ts4 opér8t1r￿aIeCGtsofLhe Ntherhou*dthe
A3 rv5tated
31 31 Decemb2r
Croup
fvl 1 ￿n￿ry%￿L4
1$3.736
31 2025
.311
chartyLt45 nc4a¥many*ng*knr￿ a55e
T￿￿￿￿18￿x•d Assèts fuTrJ wresents thenetbDd(vaue ofth&group¥tsr4IJefr￿ a$setqwh￿h how teen finarttdfrcrn
unrethbj funds. Ath1$k￿ tnadF to sworat¢lhi4 fuTrJ from the9ew*fvnds (rfw*gioJp In r*owlltyirfthèf8cithAt
a5s*s ore esserthl kntrEtla*lTrdwyWoikoltsk4)Ihar￿us•dth&SK￿tyandtr￿ val￿r￿&s￿￿ by
$u¢h8s$ets, fvr¢fue, sho￿ rrtber*¥dg195 e&5e, kn
Report ot the Trustees 15 months to March 2025
65

Notestothe Accounts
31
lund
fvnd
Fund￿￿5 ￿31 W 2025
l*thIr4￿f￿rt0tr* ￿¢￿#5
263311
8&761.910 4&717.462 IBIA763
knswtrnerts
.3
1￿244
1191
203J11
R#tr*tea TanW￿
fvr*¥
ILmd
rund
JM
23
d L*￿¥&*31 DI¢iim￿x2)
vJwèrèwès¢fit4aty'.
54A54292
6￿126 17B.107.211
14SSJ811 130.545.5741 1310946131
12.71$fjXI
12.718.021>
61AW.8*)
4.697.462 144.
(s93.￿8>
78.1162
fvnd•
31 Mw¢h
fund
eh*
Fund VArcha)25
11.W.8¥ P7ACO.I&1) IJ•Ats9A52)
tr*ye¢r
717A22 526J
*J11281
I49.6￿￿7
1431
GwerW D￿nb￿r
fvnd
Ch
tr4W*¢SSt31
7&8trJ.403
I￿25￿)
64.t64I92 35.t43.4X 179.10T.211
1455.3811 131554￿75) 132.7D3.2141
Ctfjd#ors'.ar(w>Jnts faiwoA*qtrdn
37180
78.116Zth 61.W
Totyi netliS8
4.066.8SI
14I68&976
Z5
37.110a60
1IAeo.4
Report of the Trusiees 15 mDnths to March 2025
66

Notesto theAccounts
20 Tran8f•r to CIO
TIPTru$t￿ oflhe charty arealso Ihe tru$¢*5 of Duch8sne Twst CD Icharlty Registrai•)n Mjmter 1210(b61.
a charty r￿[ster&I vjrth th8 Charity CommIss￿n of Ewland and Wales on 17 September 2024
Wth effect from M￿n￿ht on 31 March 2025. the act￿￿6$, assets and 1lathlrtk￿ oftrEcharitywere tran5fwreJ lo
t￿ Duchesne Trust Cl) in accudance with 8 le9￿ d*J oftransfer Of1￿ net assets undertaking. The net
sssets of the group and ch8rty8t thaldate cownprts&J".
Group
Chaffty
od •M•ts
TaryiLle fixed assets
Cost
Dep￿lO￿n
Net twk v4ue
Invsstments
Financid investmerts
cash by investmert m8n4ers
8.381.034
18.118.6231
263311
173.449.212
17.810.551
173.449.212
17.810.551
191.2S9.763
191.$23.074
791.259.763
191.259.763
Curr•nt a￿t•
Debtors
Ga5h at bank
144.846
4.146.56D
4.291.406
143.252
2.846.654
2.989.906
Cr•diior•: amounts fal1iThJ due Lne
42.713.287
142.399.368
Net ¢ur￿￿tIl•bI[ItIe¥
Totsl assets less current Ilabllltl•$
Cr•dittirs'. amounts f41ing aftw More than 0￿
Totsi n•t ass•ts
138.421.881
153.101.193
12.191.244>
150.909.949
139.409.452
151.850.311
12.191.244)
149.659.¢X7
Row•sentsd ty.
Fund$ and r•wrvg$
Restri￿•￿ fund9
88.717.922
88.717.V22
Unrestrltt¢•d fun
. D•slgnated fun
. Tanlllb￿ fixod awts fund
. Gen8r•l fvnds
S2.629.864
26&311
9.29&852
52.629.864
8.311.281
150.gJ9.949
149.659.067
21 UllwMt• Control
Thr(whwl the wiod to 31 March 2025 the chartywas ¢efjtrdlgd Soclety ofthe Sacrvj Hè8rL a Roman
CatlK4K I￿￿knu$ ¢orGregaknn.
The trustees of th8 charity compri58 th& Suwror Genera * Ihe General Counclllors of the Societyof the
Sacr8d Fkart iogether wrth C8norbtcal Tr￿urer Generd Sow.
The charity. whlch is corstTbJted as a trust, wa5 conirolkd IhrouglKyJl theyear by the So¢iety of the
tywtue ofthe lact Ih8t members tsfthe &tiety dect Suw*y Gwg18ThJ the sUp￿r Gener￿ th8n
¢h)ses the &n8ral Cwtriltrs at ts Gwra Chapter hdd 8verye]ght ye*s arKI the Can0n￿al Treasur
Genwal is appointed tythe Su￿￿Or General at least evwy threeye8r5. The Soclely does any assets.
kncur any of the10bill￿ or entsr into gny dthe tran5acbDns refiectwl ITh thes8 accounts in ts own rlgm.
Report of the Trustees 15 months to March 2025
67