Treasurer's Report 2020

FIGURES FOR 2019

Income: £89,759

Transfers to Colombia: £76,550

January        £7,000
February      £5,200
March           £5,000
April              £5,500
May               £5,600
June              £7,000
July                £7,000
August          £6,500
September  £7,250
October        £6,000
November    £7,500
December    £7,000

Total            £76,550

Expenses: £4,828 (5.4% of income):

• Links - £3,710
• New website design, development and annual hosting fee- £600
• Events insurance - £180
• Reimbursing costs - £130
• Newsletter postage - £122
• Publicity banner - £35
• Transfer to Building Society account - £50

This a big generalisation but many large charities do well to spend 80% of their income on charitable activities. The rest goes in salaries, fund-raising and management costs.

IMC is small. Being run by volunteers on the UK side keeps it simple and cheap.

Payments to Links is obviously the largest outgoing. Links manages our finances, including the annual audit, ensures compliance with financial regulations and guarantees transparency.

I appreciate that transfers to Colombia and expenses do not equal the 2019 income. This is due to amounts in the accounts at the beginning and end of the financial year.

Posted on the 22nd July 2020 at 9:25pm.