The Fitzwilliam Museum - University of Cambridge

Notes
a The University provides heat, light, power, rates, insurance and essential repairs and maintenance to the fabric of the Museum buildings
in addition to the direct income and expenditure shown here. Indirect costs estimated at £997k for 2003-04 in the University
Resource Allocation Model.
b This grant comes from the Higher Education Funding Council for England via the Arts and Humanities Research Board to the University
for the support of its museums.
c The Fitzwilliam Museum Trust is a registered charity which supports the work of the Fitzwilliam Museum. Expenditure incurred directly
by the Trust is not included in the above figures.
d Fitzwilliam Museum Enterprises Ltd was established as a trading company to develop and sell merchandise related to the Museum's
collections. Its profits are covenanted to the Museum. The income for 02-03 and 03-04 is interest payments on a loan only, as the
company did not make a profit due to the closure of the Museum.
e The total cost of the Courtyard Development project was £12.064m, funded in part by a £5.926m Heritage Lottery Fund grant
accounted for by the University of Cambridge Estate Management and Building Service Department.
f
The running costs are operating at a net loss at present, due to the reduction in income received from Fitzwilliam Museum Enterprises
and the collecting boxes, following the closure of half the Museum from January 2002 to Christmas 2003 and the whole Museum
from Christmas 2003 until June 2004 for major refurbishment works. The loss has been funded from Museum reserves.
Fitzwilliam Museum Income Sources - Year Ended 31 July 2004
(Excludes income relating to building projects and acquisistions for the collection)
Designation Challenge
Fund 2%
MLA Renaissance in
the Regions 2%
Research Grants 10%
Investment Income & Bank
Interest 8%
Other Grants / Donations 5%
University Indirect Costs 30%
Trading Income 2%
AHRB award 28%
University Direct Costs 13%
65
Appendices