Total income: £1.15m for the 15-month period ending 31 March 2007. It was measured over 15 months because the charity changed its financial year. Income during the previous 12 months was £894,000.
Highest salary: No employee earned more than £60,000.
Reserves policy: The charity aims to hold free reserves equivalent to between 80 per cent and 110 per cent of its annual spending, net of fees from healthcare establishments. At the end of the year, free reserves were £582,000, representing 83 per cent of spending.
Fundraising costs: The charity spent £183,000 on raising voluntary income and revenue from concerts. This gives the charity a fundraising ratio of 24p in the pound. The previous year's ratio was the same.
Pension: The charity contributes 5 per cent of salary either to a money-purchase pension scheme set up by the charity or a pension plan already established by the employee.
How performance is communicated: The annual review, which is available at www.music-in-hospitals.org.uk, has useful performance figures that compare activity with the previous year. It also contains references to research demonstrating the therapeutic benefits of live music within healthcare. There is not much information or commentary in the annual review about the charity's financial efficiency, however, nor much about the charity's future strategy.
The charity says: "In 2006/07, the care centres contributed about half of the cost of a concert and Music in Hospitals made up the shortfall through donations, fundraising and from its own resources. In addition, Music in Hospitals raises money to cover the full cost of concerts, enabling the charity to provide them free of charge to healthcare centres with limited funds."