THE WHEEL ANNUAL REVIEW 2008

8 FINANCIAL OVERVIEW
2008 was a challenging year for The Wheel - like every year is for community and voluntary
organisations! Nevertheless, we emerged from this difficult year in remarkably good shape. This
came about through a combination of savings on expenditure during the year and through
exceeding our income targets (primarily due to pre-payment of grants for work to be done in 2009).
Successful grant applications included a fourth grant from the Vodafone Ireland foundation
(€53,000) and a first grant from the Calouste Gulbenkian Foundation (€21,500). In addition, an
award of €9,000 was made from the e-Inclusion fund in the Department of Communication, Marine
and National Resources.
We also focused in 2008 on increasing the income we earn from sponsorship, advertising in Le
Chéile and fees for services.
INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2008
INCOME 2008 2007
Donations and gifts (private, corporate & philanthropic) 199,469 219,121
includes income deferred from a previous year and
excludes donations deferred until a following year
Grants (statutory) 625,000 684,051
includes income deferred from a previous year
and excludes donations deferred until a following year
Contributions to meetings and events 175,598 49,555
Membership fees 94,094 66,428
Other income 21,529 17,407
Total Income €1,115,690 €1,036,562
EXPENDITURE 2008 2007
Direct charitable expenditure 843,739 850,020
Management and administration expenditure 196,931 180,350
Total Expenditure €1,040,670 €1,030,370
Operating Surplus / (Deficit) 75,020 6,192
Interest Receivable 5,642 4,485
Retained Surplus / (Deficit) for the year 80,662 10,677
Transfer (to) / from Projects Commitments Fund (80,662) (10,677)
Surplus Carried Forward at End of Year €0 €0
*The above figures are taken from The Wheel’s audited accounts for the year 2008.
The full audited accounts are available on request.
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