The Institute of Fundraising generated a surplus of nearly £144k last year

The IoF's annual report shows that its income fell slightly to £4.66m and its spending was £4.52m

The Institute of Fundraising generated a surplus of £143,767 during the financial year to 31 March 2015, according to its latest annual report.

The IoF’s income fell slightly to £4.66m from £4.68m the previous year, and its spending fell to £4.52m in the year to March 2015, compared with £4.63m the year before.

The report puts the number of individual members at "over 5,400", compared with "over 5,600" as stated in its previous annual report. But they contributed £495,882, up from £470,131.

Its free reserves stood at £561,577 as of 31 March, up by £33,396 over the year.

The IoF has set itself the target of recruiting 1,500 new members and retaining 76 per cent of its existing members, the accounts say.

It also plans to grow its organisational membership, which stands at more than 400, by targeting organisations with incomes of more than £5m and those in the heritage and cultural sectors.

The annual accounts were signed off on 23 June, three weeks after IoF chief executive Peter Lewis and the heads of the other two self-regulatory bodies for fundraising met Rob Wilson, the Minister for Civil Society, to discuss action to be taken in the wake of the death of Olive Cooke.

The annual report does not mention any political pressure on the fundraising sector, but commits the IoF to "effective relationships with ministers and civil servants" and "being an active participant in media debates and campaigns".

The annual report confirms that the IoF has followed through on its intention to apply to the Privy Council to determine whether a formal application for chartered status could be successful. The report says chartered status would bring a range of benefits, "from recognition of the profession to continuing to drive up standards through training and qualifications".

Earlier this month, two new directors were appointed to the IoF board, according to the Companies House website. They are Giles Pegram and Carol Akiwumi, both fundraising consultants.

Directors who have recently stepped down from the board are Margaret Tierney, Lynda Thomas, Gordon Michie, Kevin Kibble, Dianne Flatt, David Eder and Joseph Cuff, according to Companies House.

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