Focus: Finance and Governance - The Numbers - Coram Family

Patrick McCurry

Coram Family provides services for vulnerable children and young people, including adoption, supervised child contact, supported housing and family support

Total income: £7.2m for the year ending 31 March 2005, up from £6.9m in 2004.

Highest salary: Chief executive Honor Rhodes earned between £70,000 and £80,000.

Reserves policy: Lacking significant unrestricted fundraising income, the charity depends on its historic endowment, which is expendable and has enabled it to invest in its infrastructure and underwrite significant operating deficits in recent years. Free reserves, which exclude the endowment, stood at £577,000 at the end of the last financial year - the equivalent of six to seven weeks' unrestricted spending.

Fundraising costs: The charity's voluntary income was £900,000 and its fundraising costs were £361,000. This gives it a fundraising ratio of 40p.

How performance is communicated: The annual report and accounts are thorough and include numerous statistics covering service provision, whereas the glossy annual review gives a more accessible overview of activities. Surprisingly, however, the annual report and review are not available on the charity's website, www.coram.org.uk.

The charity says: "The net value of the balance sheet increased by £410,000 to £17.5m. Of this, £4.2m is capital and interest earned on the sale of Hogarth's painting The March of the Guards to Finchley. These funds have been earmarked for redeveloping and increasing space available on the campus for the charity's expanding work with vulnerable children and families.

"Investment income increased from £379,000 to £539,000, partly as a result of switching fund managers and pursuing an expanded asset allocation strategy encompassing hedge funds, private equity and property."

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