Down Masonic Widows’ Fund (Registered with Charity Commission for Northern Ireland Number NIC 100079)
Chairman’s Report for the year ending 31%t January 2026
At our last Annual Genera! Meeting we were delighted to have in attendance our Patrons the Right Worshipful Assistant Grand Master Right Worshipful Brother Leslie Nixon, Right Worshipful Provincial Grand Master of Down, Right Worshipful Brother Brian Gardner and the Most Excellent District Grand King of Down, Most Excellent Companion Roy Humphries. | was also delighted to welcome a number of other distinguished brethren and over one hundred brethren to the Meeting. Brethren, your presence, and participation help make our Annual General Meeting a resounding success and we deeply appreciate your continued interest and support. Last year our President Right Worshipful Brother Desmond (Des) Smyth celebrated 40 years+ of devoted and loyal service to the Fund, and | was delighted and honoured to make a presentation to him in recognition of this wonderful milestone in his masonic career. Sadly, Right Worshipful Brother Des Smyth passed to the Grand Lodge above on 26th December 2025. Though he is no longer with us, he will never be forgotten. His dedication, leadership, and commitment to the Fund will remain an enduring example to us ail.
Overview
During the year ending 31° January 2026 the fund has experienced a strong and successful year of financial growth. Key areas of performance—investments, property rentals, and income from District Charity Committees—demonstrated growth and stability. This was largely attributed to the continued and valued support from our brethren, as well as the well-managed and diversified portfolio of assets and investments. income from District Charity Committees This year the the fund received from from the District Charity Committees £96,410 compared to £89,673 last year, an increase of 7.5% 7.5% There is no doubt Gift Aid is a vital and continuing source of revenue, and | would appeal to you all to use the Gift Aid schemes including the small donations scheme operated by our 5 District Masonic Charity Committees. The support and performance of our District Charity Page 1of 5
This year the the fund received from from the District Charity Committees £96,410 compared to £89,673 last year, an increase of 7.5% 7.5%
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Committees have been instrumental; in boosting the fund’s income and | would like to thank them for their active fundraising initiatives and charitable activities despite a continuing reduction in membership.
During the year, the fund continued to meet its objective of helping our widows by paying the following annuities/grants: -
109 Widows received annuities of £121,680. Last year - 110 widows received £113,280.
31 Widows received bereavement grants of £15,535. Last year - 35 widows received £17,500.
The total paid to annuitants etc. last year amounted to £142,466 whilst the income from our District Charity Committees etc. amounted to £104,557 creating a deficit of £37,909. In 2025 this deficit was £37,622.
However, the surplus income from the Fund’s portfolios of property and investments met the deficit of donations received and created a surplus of £162,978 compared to a surplus in 2025 of £158,390.
As you can see from the accounts the administration which provides an excellent and efficient response to bereavement and annuity claims operates at a minimal cost. This is due entirely to the work of our diligent officers.
Property Portfolio
The property rental portfolio also performed well. Our property portfolio has seen both steady income and hopefully appreciation in property values. The rental income is attributed to strong tenant retention and rental adjustments with market rates.
The Trustees have and continue to conduct reviews of the properties on a regular basis. This efficient management and maintenance practices ensure that our properties remain occupied, minimizing vacancy rates and maximizing income.
The property market remains strong, and we expect steady income generation from our property portfolio in the coming year. The trustees continue to explore opportunities for further property acquisitions and value-added improvements. A good property at the right price with a good tenant is hard to find.
Regarding the management of our existing properties, | would like to thank our Managing agents Fraser Kidd and our solicitors Carson McDowell, Page2 of 5
with whom we have excellent working relationships, for their assistance regarding the Fund’s property portfolio.
Investments
In addition to our property investments, the Fund continues to diversify its investment strategy through the stock market, with notable success. We currently invest through Quilter Cheviot's specialised Charity Investment Fund Account and the Northern Ireland Central Investment Fund for Charities. As evidenced by the performance detailed in our accounts, these investments have performed exceptionally well, contributing to the Fund’s overall financial growth.
Given the strong performance of these investments, the Trustees have made the decision to invest an additional £100,000 into Quilter Cheviot's specialised Charity Investment Fund in January 2026. This decision reflects our confidence in the continued success of these funds and aligns with our long-term financial strategy.
The primary objective of building these investment portfolios is to position the Fund ina strong financial standing should a suitable property become available. By strengthening our investment base, we aim to ensure that we are able to purchase property with minimal or no reliance on financial assistance from our bankers, providing us with greater flexibility and security in future acquisitions. | am also pleased to report that the overall financial position of the Fund has significantly strengthened. The balance sheet showsa strong position of £2,502,616, compared to £2,339,638 last year, representing an increase of 7%.
This improvement is a testament to the diligent management of our investments and the continued hard work of the Trustees. We remain committed to ensuring the Fund's sustainability and growth, and these results reflect our strategic approach to both investments and financial management.
Examination of Accounts
The accounts of the Fund are independently examined by R. Savage and Company Limited, Certified Public Accountants, based in Saintfield. We have had a long-standing and excellent working relationship with them, and their support continues to be invaluable to the Fund’s operations.
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| would like to extend my sincere thanks to Noel Gibson, Managing Director, and Tracy Kearney, Director and Senior Tax Consultant, as well as the entire team at R. Savage and Company Limited, for their assistance with the examination of the accounts
Their professionalism, expertise, and ongoing advice are greatly appreciated and play a key role in ensuring the transparency and integrity of our financial reporting.
Afternoon Teas/Lunches for Widows
| am pleased to report that all District Charity Committees within the Fund's area of operation successfully held afternoon teas or Junches for their widows. These events continue to be a highlight for the widows, providing not only a chance to connect with others but also a moment of respite and enjoyment.
| had the pleasure of attending the afternoon teas in Banbridge and Bangor and would like to congratulate the committees involved on the excellent arrangements. Both events were very well organized, and the atmosphere was warm and welcoming. | have also received positive feedback from my fellow trustees who attended the other afternoon teas, all of which were equally successful.
The success of these gatherings reflects a tremendous amount of hard work and effort from our District Charity Committees, and | would like to take this opportunity to express my sincere thanks for their dedication. From the feedback we have received, it is clear that the widows continue to thoroughly enjoy these occasions, and they truly appreciate the care and thoughtfulness put into each event.
| would like to encourage everyone involved to keep up the excellent work and continue making a positive impact on the lives of our widows.
Thank you once again to all those who made these events possible.
Thanks
| would like to thank our three Patrons of the Fund, the Most Worshipful the Grand Master, the Right Worshipful Provincial Grand Master of Down and the Most Excellent District Grand King of Down for their continued support and encouragement, for raising awareness and emphasising the importance of our Fund to the brethren of the Province and District of Down.
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| am very conscious and indeed humbled by the wonderful work that goes on in our Lodges, Chapters, Councils, Preceptories, Prince Masons and District Masonic Charity Committees in promoting and raising money for our Fund as well as the important work of visiting our widows.
As we move forward with confidence and optimism, | would ask for your continued support to maintain and where possible increase your financial support to the Fund. Your financial support is vital to ensure the Fund continues to meet its financial obligations for the near future and beyond.
In addition to financial support, | would also ask for your continuing work in identifying widows and ensuring that the information and details recorded on application forms is accurate, so that we can help quickly where assistance is needed. | am deeply concerned that with lodge closures, some widows who should be receiving support or whose financial situation has changed in the present economic climate are not receiving any or adequate support. Sadly, | feel that in some instances Lodge Almoners could and must be more proactive in these areas.
On behalf of the Trustees and Officers of the fund | would like to convey our sincere thanks to the following for their wonderful generosity and hard work.
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» District Charity Committee representatives and officers. > Representatives to our Fund.
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» Lodge Almoners, Stewarts of Charities, Secretaries and Treasurers. >» All the brethren in this part of our Province.
Brethren, the Trustees and more importantly our widows deeply appreciate your hard work and efforts. Finally, | would like to thank my fellow Trustees, Right Worshipful Brother Sam Snodden, Worshipful Brother Gerry Anketell, Right Worshipful Brother lan Kirkpatrick and our exceptionally hard working officers, treasurer Right Worshipful Brother David Woodrow, secretary Right Worshipful Brother Noel Sufferin, and assistant secretary Right Worshipful Brother Eric Williamson, for their support, dedication, enthusiasm, and their hard work and efforts during the year to ensure the Fund continues to meet its obligations and objectives.
OG. Archie W.G. lan Ritchie PPAGM Chairman and Trustee 23" February 2026 .
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