The Scotch-Irish Trust of Ulster Trustees, report for the year ended 31 March 2024 The Trustees present Iheii- repoi't ai)d the audited finaijcial stateinents of the 'fi'iist for the year ended 31 Mai'ch 2024. The Ti'uslees liave adopted the pi'ovisions of the Stateineiit ofRecommended Pi'actice (SORP - fRS 102) "Accounting aiid Rei)oiting by Cliarities" in preparing the ai)iiual I'epoi"t and fiiiaiicial stateineiils of the cliai'ity. Structure, Goveri)ance and Management The 8cotcli-li.isli Ti'ust of Ulstei. was sel lip by a Scheine of Incoi'poralion under Section S O of the Chai"ities Act (Noriliern Irelaiid) 1964, dated 20 August 1969 and Continues to work in accordance with the Declaralioii of Trust whicli is Ilie govei'iiing dociiinent. The Ti'ustees took i'esponsibilily foi. the Inaiiageinent of The Melloii Ceiili'e for Migi'ation Stiidies (MCMS) with effect Ii'oin l Ai)I'il 1998. The chai'ity was registered with The Chai'ity Coininission foi. Norlhei'ji li'eland 011 4111 Fiebi'uary 2016 (charity nuinbei. 103343)- The maiI) address for the Ti'iist is The Ulster Ainei-ican Folk Park, 2 Melloii Road, Oinagh, BT78 5QU. Trustees The Ti'iistees who sei-ved dui-ing the year are.. Mi. John Gilmoiii. (Chaiiinaii) . Michael Beattie Daine Geraldine Keegan Pi-ofessor FJ Sinitli Ms Elliiear Mui-iiaglian OBE Mr David Mooi'e Mi. Alan McFai'land Mi. Gei"ai"d Bi'odericlc JP MBE Dr Philip Mowat Ms Ann RoblllSOII Reci-uitment and 3ppointmeiit of Ti'ustees Tlie L'eci'uitineiit of iiew Ti'iistees is condiicted iii accordance with the 0ve1'nIng docuiiient- the Declai"alion of Ti'LlSt. Indiictioii and traininu as i-eqLliI-ed, is cai-l'ied oiil by tlie Chairinaii aiid one otliei. expei'ienced Trustee. New Trustee appointtnenls al'e based oil a Slcill's Audit, designed to li j(Thlioht cui-i'ei)t gaps iii InaLiageinent expei-lise and academic specialisins, which ideally iieed lo be filled. Oi'ganisatioiial Structui'e The cliai'ity is iiianaoed by tlie Ti'iistees who meet thi'oughoul the year to oversee all operational inattei's i'elaling to the Triist and the woi'k of the Mellon Centre for Migi'atioii Stiidies. All decisions are made by the T?'ustees in accordaiice witl) tlie Declaration of Ti'ust. Froin its inceptioii, tlie Ti'ust has endeavoi-ed to ineet the Cliai'ity Coinmission i-equll'eineIit to operate in the intei'ests of public beiiefit, by pi-oviding visitor and education progi-ammes. rnuseuiii and conservatioIi projects; and libi'aiy, inforinatioii and archive sei'vices. The Mellon Centi'e foi. Migration Studies (MCMS) is now the inain undeilakllig of the Ti'iist, wl)ich it governs and fuiids. To ftiither ils aijns, it is 5UPPOI'ted by an Advisory Coininittee of MCMS, whose priiiiary purposes al'e to.. Advise the Ti'ust on the polic}1 2£ nd sb'ategic dll'ection of the Centre Suppoi't aiid challeiige the Directoi. and Centt-e colleagiies in Ilie delivery of the Ti-ust's goals and objectives Ensiii'e tliat tlie Cenli'e opei'ates in an efficient and effective 11)aniiei'. The Chaii-liiaii of the Ti-usl CiLrrently cliaii's tlie ineetings of the Coininittee. Iii addition, Ineinbership coinpi'ises tlie MCMS Dii'ectoi., three 'fi'iistees, one co-opted illeiiibei. and oiie repi'eseiitalive fi-oin each of the pai'tnei'ship bodies, includuig Libi'ai'ies NI, PRONI aiid Ilie Queen's Ullivei'sity of Belfast, whieli collaboi'ate with and suppoit the work of MCMS. Membei-s cui'i'eiitly total I I, but nuinbeis Inay fliictuate accoi-ding to chaiiging prioi'ities and neiv prograiniiie initiatives.
The Scotch-Irish Trust of Ulster Trustees, report for the year ended 31 Mai'ch 2024 (continued) Siiinma i-y of Puri)ose5 When fii-st established, the primary purpose of the Trust was 'the encoui'agerneiit of reseai'ch into the study of the Iiistory aiid cultui'e of the people of Noi'ihern b'elaiid aiid iii particular those kiiown (in the U£A) as the Scolcli Ii'ish and the links of that histoi'y and cultui-e with those of othei. coiintries, and the advanceinent of tlie knowledge of the public iii those subjects., (Declai'ali017 of Ti'iisl J967) Ovei. the yeai-s Ilie i'einit of tlie Ti'ust has bi'oadened lo focus 011 the process aiid iinpact of historic Inigi'ation both iiito and out of Ireland aiid the global impact of the li'ish Diaspoi-a. Tlie 'fi'ust's piirposes also include the provision of scholai-ships, bursaries and granls for Ilie research and study of migralioii aiid for the piiblicalioii of books, Irecilises aiid acadeinic papers. It inay also acquii'e, i-estoi-e, presei.ve and Inainlaiii foi. the piiblic beiiefit, buildings and lands which have 'an histoi'ic associatioii witli the Iiistoi'sl and cultiire of the i)eople of Noithei'ii li'elaiid. oi. which Iiave a liistoi'ic associatloll Wlth the culture of the people of Noi-lhei'ii Irelaiid in othei. parts of the world., (DeelaF'at1017 of Tp-zisi 1967). Cornpliance with the above enabled the Ti'ust to set up the Ulster American Folk Park and to develop and manage it for ovei- 20 yeai's and fi'oill 1998 oiiwai'ds to establisli, govei'ji and ft]nd the Melloii Centt'e foi. Migi'ation Studies (MCMS) wliich pi'oinotes reseai'cli, teaching aiid piiblicatioii of the pi-ocess of Migi'ation. The Melloii Centre foi. Migration Studies. (MCMS). MCMS is housed a modei'Ii Reseai'ch Libi-ary, open to the public, which was originally built, equipped, and stocked by the TL'USt. In pai'tnei-ship with Libi'ai'ies Nl, the Ti'iisilMCMS pi'ovides i-e5earch, libi'ary aiid iiifoi-jnatioji sei'vice to tlie geiieral public dui'ing iioi'inal librai'y and inuseuni opeiiii](y houi's. Usei's have tlie benefit of fi'ee access to a specialist Migration Histoi'y Libi'ary aijd an Irisli EmI.at10I] Database aiid, by appouittnent tlie expert sei'vices of Libi-aiy and Acadeinic Staff. Tlie benefits are deinon5trated thi'ough raised awai'eness and increased knowledge of Migi'alion, Ii'ish Amei'ican liistory and cultui'e, and genealogy. H/li(It Ive Ilo ? The MCMS vision is of 'an infoi'med coininiinity, coiifidently and ci'eatively engaged witli its inigi'atioii hisloiy, culture and hei'itage, and its Inission is 'lo sei-ve tlie coinniunity as a leading intei'iiational institutioii foi. tlie study of huinan Inigralion, focusing on the peoples of li-eland woi'ld-lvide, With fuiidino suppoit fi'oin the Northei-n Irelaiid Asseinbly, thi'oiigh tlie Depaitinent for Coininuiiities (Dfc), Ilie Ceiitre works ll] pai'tnei'ship witli othei. Dfc-funded a(tencies (paiticularly tlie Ulstei'_Ainei'ican Folk Pai'l(nqMNI, Libi'arie5 Nl, aiid PRONI) to llnplemenl Ilie 'Coininiinity Cohesion, sh'ategic pi-ioi-ities of 'bi-iiiguig divided coniniuiiities togethei 'lackling disadv811tage and proinoting equality of opportunily, aiid 'inaxiinising public benefits fi-oiii Ilie cultiii'e, arts and leisiire sectors,. H/lio ale oiii. iisers ? A sigiiificant iiuinbei. of tlie visitoi-s to MCMS al'e also visitors to the Ulstei'_Ainei'icaii Folk Pai'k. About 50 % of the usei's coine fi'oin Noi-th Ainerica, Britain, Australia aiid New Zealaiid, with inosl of the otliei. half coining fi'oiii Ii'eland. noitth a]id south, and about 20/0 coiiiino fi'oin oihei. pai'ts of Eui'ope aiid the i'esl of the woi-ld. The global pattern of users of tlie Centi'e's onliiie resoiii'ces is snlIa1.. Tlie local usei-s of oui. facilities include I'eseai'ch scholars, teachers and lectui'ers, tliird level students, school pupils, authoi's and fainily histoi-iaiis.
The Scotch-Irish Trust ot. Ulster Trustees, report for the year ended 31 March 2024 MCMS Pi-ogramme highligl)ts 2023-24 The highlights of this i'ei)oi-liiig year wei'e as folloivs.. l Bad Bridget Booli Clubs , a five week pi'ogi'<irnine to graduate and uiidei'graduate students with the Good Relations Office of Fei'inaiiagh aiid Oiiiagli Disti'icl Council Sookiiig at tlie lives of einigi'ant woinen iii the 19, aiid early 20 ceiitui-ies. A podcast ivas i'ecoi'ded at the Ulster Miiseum with QUB,NMNI and UU. 2. Riii'al Coiii miiiiity Netivoi'li . study of phologi'aphs and ai-chive Inatei'ials on local hei'itage aiid inigralioii storie5 3. Loughs Ageney: Sti-e<11n keei)ei's' pi'oject delivered l O woi'kshops oil tlieines of inigration bi-idges ¢ind i'OLltes. 4. [{ Ast TeiinLssee State UniveR'sity . pi'ograinme of lectures delivered oiiline lo graduate and iiiider gi'aduate students. QUB Libci-lll Ai'ts . woi'king Nvltli stiidents aii(I staff 011 a Migration aiid Ageing pi'oject. 6.Sti-ule Shii red CAM pils, Om Agl). The Dii'ecloi. and slaff of MCMS continue to woi'k witli pi'incipals, governoi-s aiid local secoiidai'y scliool studeiits in ihe developineiit of tlie concept of njigi-atioii aiid ils pi'actical applicalioii iii conleinporary society. 7.. Oniagli 14ltei.aey Festiv#l: presentations by MCMS Usllig original einigi'aiit lettei's fi'oii) database 8. Study abi-oad progi-am me :hosting sttidents froin East Teniiessee State University foi. lectui'es and field trips. 9.11-ish Hei'itage Ti'ust: Shai'ed Island prograinine lo pi'eseiit woi'kshops in Neivry and Sti'okestown l O.AssociAtioin of Ei ui'opeaii Migi'atioii Institutions, Slovenia. Pi"eseiilalioii by Dll'ector MCMS. l J FIeritage Lottei-y fi uyid: Advised Gleliock Chui'ch Newtownstewarl on a major refurbishineiit project. 12.MuseuJn of Amei-icai) Fi'ontier Cultui-e, Virginia. MCMS provi(led acadeinic advice on lllterpi'etation. 13.Ulster Atnerican fi ollc Parli= collaboi'ative woi'king with NNINI and the Scotch Ii'ish Trust on the long tei-iii developinent of the Folk Parlc. MCMS stèff coiitiiiue lo woi'k with coininunity aiid local histoi'y groLlI)s, right across the province lo deliver lecNI'es aiid woi'kshops, as well as dealiilts witli tlie daily i'esearch and infoi'ination needs of a diverse i'aiige of usei's, iiicludiiio iiiternational toui'ists, acadeinic scliolars, aiid local sclioolcliildi-en. The Scotch li'ish Ti'usl as tlie govei'iiing body of the Mellon Centre foi. MigL'alion Studies, I'einains coiiiinitted to Inaintainiiio the c1111.ent levels of resoui-ce fundino for its opei'ation, in pai'tnei'sljip ivitli tlie Depai-lineiit of Coininuijities. Financial i-eview- Aniiual accounts 2023-24 Results The stateineiit of fmancial activities for the year is set out on page l O of the fu]ancial statements. The total iiet incoini]ig resoui'ces of the Ti'usl foi. the year befoi'e gains on Il)e i'evaluation of investtnents were £6,273 (202J'.£26,472). The Trust has total assets of £3,234,954 at Ilie yeai'_end as coinpared with total assets of £3,204,870 at the end of 2023.
The Scotch-Irish Trust of Ulster Trustees, report for the year eniled 31 March 2024 (continued) The Trust iiiainlaiijs a i)oi'tfolio of iiivestinents whicli is Imanaged by the Triislees in conjunctioii with qiiRrterly reviews wl)ich are cari'ied out by advisoi's, Evelyn Pai-liiei's. Dui-ijig Ilie yeaL' to ) l March 2024 tliese iiivestiiienls geiiei'ated £97,507 of incorne foi. the Ti'ust. Othei. soui'ces of income included-. Rental iiicoine fi-oin lands held and i'ented to the N¢ltional Museuins NI (£24,000). Graiit I'eceipts fi'oin I)epaitment for Coiniiiuiiities (£62,000). and othei. incoiiie fi'oi The Irish Arnerica Partnei'ship (£12,407) and Lectiii'e5 and other income (£14,788). The total expenses for the yeai. ainounled to £204,524. The main costs i'elated lo staff salai'ies and peii.sions totaling £131,000. I"Iie einployees al'e involved in Ilie delivei'y of tlie Ti'ust's objectives aiid al'e involved with Inaiiaging tlie I'eseai'ch, teaching and sludy of Inigi'ation. A bi'eakdowii of all the expenses is set out iii Note 7 to the accounts. The Iiet assets of the Ti'iist at 31 Mai-¢l1 2024 amoiinted lo £3,234,954 (2023.. £3,204,870). The ITJain I'easoii foi. the increase li) the year i'elated to the uiirealised gains on the inai'ket value of the investineiits. Reserve policy The Ti'ust has free reserves (Iliat is uiii-estt'icted funds) of £3,084,408 as at 31 Marcli 2024. Deducting the Fixed assets of £2,922,5 80, the Ti'ust has ' liquid, net assets of £161,828. Tliis I'epresents 1.14 yeai's of unt'esli'icted expenditiire. The Ti'ustees believe that due lo Ilie volatile natui'e of the iiivestment Inai'ket, aiid the futtii-e pla115 to further develop The Melloii Ceiiti'e foi. Migration Stiidies, this level of fl'ee i'esei'ves is necessary. Tlie Mellon Homestead at Cainphill FuIid (i'estt'icted funds) repi'esents moi)ies i'eceived fL'oin the li'ish Anierican Pai'lneiship that cali only be utilised foi. the upkeep and i-epall. of tlie Melloii Homestead. The fund balance is included within the casli i'esoui'ces of the Ti'ust. (Note 17) liivestm ent policy The Triist lia5 eiitsaged EvelyIi Parhiei's as inveslinent Inanagei's to pursue a policy of Inaxllnising illcoine whilst Inaintau)ing soine capital gi'owth. Tlie Ti-iistees have the poivei. to invest lli such assets as they see fit. The Chairjnaii 15 responsible for liaising with the iniieshnent nianagei's aiid i'eporliiio to the Ti'ustees at each Ti'ustee's Iiieeting. The investtnent pei'foi'inaiice for 23124 yielded investtnent incoine of £97,507 (2023.. £109,082). Tliis is slightly below the objective of achievino a i'etui'i) of betweeii 5-80/0. TaxatioIi The Tnisl is a registered chai'ity, and as sucli is entitled to cei.lain tax exernplioiis oli incoiiie and pi-ofits froin ijivesttnents, aiid sui'pluses 011 aiiy ti'adin(F activities cai'i'ied 011 iii fui'therance of Ilie Ti'ust's pi'iiiiaiy objectives if these profits aT)d suiyluses are applied solely foi. cliai-itable purposes. Rislc Mailagement T]ie Ti'ustees al'e awai-e of Iliell. I"esponsibilities to re(Tulai'ly I'eview tlie iiiajoi. I'isks to which the cliai'ity is exposed. Tlie ai]ii of siich a review is to iinpleineiit a inaiiagement strategy, whicli coinprises..
The Scotch-Irish Trust of Ulster Trustees, report for Ihe year ended 31 March 2024 (continued) an oiigoiiig review of the I'isks which the chariiy Inay face. the establishment of sy5teins and pi'ocedui-es to mitigate those i'isks identified in the review.. tlie iinpleiiientation of pi'ocedui'es designed to Inininiise the iinpact on Ilie cl)81'ity slioiild any of the risks Inatei'ialise. PubliL benefit statenieiit In selliiig our objectives aiid plani)iiig oui. activities foi- tlie year the ts'iistees have given cai'efLII coiisidei'ation to the Cliarity Cominission foi. Noi'lliern Ireland's giiiclaiice oil publi¢ benefLI to ensiii-e that tl)e activities have helped to achieve the charity's plli-poses and pi'ovide a benefit to tlie beneficiaries. St4ltemeiit of I'rustees, i-esponsibilities The 'fi'iistees are I'esponsible foi. prepai'ino the Ti'LlStees' Repoi-t and the fiiiancial slateinenls in accoi'dance witli applicdble law and Ujiited lcingdoin Accounting Standai'ds (United lQingdoin Generally Accepted Accouiiting Practice). The law applicable lo charilies in Noi'iliei'ii Ii'elaiid I'equiFes the trustees to pi'epai'e FLnaiicial stateiiieiits foi. each fiiiancial yeai. wliicl) (Five a h'ue and fair vieiv of the state of affaii's of the chai'ity and of tlie incoining i'esoui'ces and application ol i'esoui-ces of Ilie cliai-ity for that pei'iod. lil prepai'ing these fmancial stateinents, tlie Ti'iistees are required to.. seleet suitable accouiiting policies and Ilien apply thern consistently. obsei've Ilie methods and pi-iiiciples iii the Chai'ilies SORP,. Inake judgiiieiits and eslijiiates that are reasonable and pi'udent. stilte whetlier applicable accoiiiitiil¢F staiidards ljave been folloived, siibject to aiiy illatei'ial departures disclosed aiid explained in the fiiiancial stateinents; pi'ei)ai'e the finaiicial stateinenls on the going concern basis unless it is inappropi'iate to pi'esuine Il)c1t the chai'ity will coiitinue ll) busiiiess. Tlie Ti-ustees al'e i'esponsible for keeping pi'oper accountino records that disc105e with reasonable accuracy at any tile the flliaiicial position of the cliai'ity and enable them lo ensui'e tliat the fiiiaiicial stateiiieiits coinply with the Chai'ities (Northerii li'elaiid) Ordei. 1987, as aiiieiided by tlie Cliarities Act 2006, tlie Chai'ity (Accounts <iiid Reports) Regulations ?008 aiid the i)i'ovisions of the ti'ust deed. They al'e also responsible foi- safeouai'dlng the assets of the chai'ity and hence foi. talcing i'easoiiable steps foi. the pi'evention aiid detection of fi'aiid and otlier ii-regiilai'ities. Statement of clisclosui'e of iiifoi"mation to auditors So fai. as eacli of the Ti'ustees in office at the date of appi'oval of diese finaiicial stateinents is aware.. thei'e is iio I'elevant audit infonnation of which the Ti-ust's auditoi's are unawai'e. and as Trustees, they liave takei) all Ilie necessaiy steps to inake tlieinselves aware of any relevant audit inforinatioii aiid to establish th&t the Ti-ust's auditors are aware of that infoi'ination. By order of the Trlislees John A Gilinoui. Chaii-lnan Dated.. 23rd October 2024