Finance: The Numbers - Terrence Higgins Trust

Patrick McCurry

The Terrence Higgins Trust aims to reduce the spread of HIV and promote good sexual health, to provide services and campaign for greater public understanding of the impact of HIV and Aids.

Total income £11.7m (up from £10.5m in 2002).

Highest salary Chief executive Nick Partridge and two other directors were paid between £60,000 and £70,000.

Reserves policy The charity aims to have unrestricted reserves of between three to five months' operational spending and, at the end of the year, reserves represented 2.8 months' spending.

Fundraising costs The charity spent £1.3m on fundraising and publicity, and its voluntary income was £3.8m, giving it a fundraising ratio of 34p in the pound. This was roughly in line with earlier years.

Pension The charity operates a final-salary pension that, according to the accounting rule FRS17, was in slight deficit, by 1.5 per cent. The main valuation is in surplus.

How performance is communicated The annual report is an impressive document. It gives a detailed picture of the charity's activities and a comprehensive and accessible description of the financial situation, including graphics that highlight trends.

The charity's three-year corporate strategy, called Making an Impact, maps out its plans for the future and is also available online at www.tht.org.uk/about_us.

The charity says "There was a significant increase in the total funds received by the charity during the year, less the cost of generating them.

The reasons for this are, first, the development of new services, which has led to the award of new contracts, and, second, the maintenance and expansion of services previously provided by organisations that have merged with the trust."

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