The financial accounts for the year ending December 31st 2007 show a net disposable income of £416,231 (from the gross income of £579,742 generated from its investments and property rent).
£77,000 (13%) of the difference was spent on repairs, maintenance and improvement of the range of properties owned by the Charity (this includes shops, residential properties and the Old Grammar School). The remaining £86,505 (14.9%) covered the fixed and variable overheads of the Charity.
The accounts also show that in the 12 months ending 31st December, the Charity issued £432,000 in grant payments towards a broad range of grant aided schemes and Relief in Need applications. The difference (of £15,769) was taken from the Charity’s reserves.
In applying Charity funds, the Feoffees work closely with many local support organisations, community groups and Local Authority Departments, whilst drawing on the broad range of skills and experience available among Main Board members. The Charity is mindful in every decision that is made to award funds, that a tangible and recognisable public benefit must be inherent in any project it supports.
Examples of projects that were supported in 2007 are:-
- St Joseph’s Catholic Church Extension
- Robert Smyth Development Project
- Welland Park All Weather Pitch
- Harborough FM
- The Bower House
- Shopmobility,
In addition to supporting these major projects in the town, the Charity has spent over £48,000 on a whole host of different, simple, everyday items to improve the living conditions of over 120 needy residents of the town.
During the year, the Charity has continued its programme of upgrading the 14 flats it owns at Scotland End, off Scotland Road, Little Bowden. A major upgrade on its premises at 54-56 High Street was completed and the kitchen in the Old Grammar School was completely refurbished as well as new furniture being supplied and a disabled toilet installed. The Charity continued to improve the 11 acre site off Langton Road, Great Bowden the majority of which is a Site of Special Scientific Interest.
