The Compassion in World Farming Trust campaigns to end factory farming and practices that cause suffering to farmed animals.
Total income £693,000 for the year ending 31 March 2004, down from £707,000 in 2003.
Highest salary - No employee was paid more than £50,000.
Reserves policy - At the beginning of the year, unrestricted reserves were £516,000, about eight months' unrestricted operating spending. This was £150,000 above target as a result of increased legacy income.
To rectify this, £150,000 was transferred to designated funds during the year to cover a conference being held by the charity.
Fundraising costs The charity spent £38,000 on fundraising and publicity, and its voluntary income was £664,000. This gives it a fundraising ratio of 6p in the pound. The previous year's ratio was 13 per cent.
How performance is communicated Although not available online, the annual report is adequate and includes useful pie charts showing both income and spending. Activities are described, but there is little in the report about differences the charity has made through its campaigning or about its long-term strategy or direction. There is, however, information on the trust's website, www.ciwf.org, about the impact of the trust's work.
The charity says "Unrestricted income was up because of a recovery in legacy income, although other non-legacy income fell slightly. The importance of legacies to the trust leaves us open to financial pressures, as timing of receipt cannot be forecast. We are therefore aiming to recruit new individual supporters who will contribute through direct debit. We are revising the way the annual report is constructed so that, in future years, impacts, progress and strategic plans are made clearer."