Annual Review 2008 - QEF

FINANCIAL SUMMARYThanks to the continued generosity of our donors, thecommitment of our staff and close control of our costs theFoundation has been able to achieve a surplus of income overexpenditure. In the twelve months to 31 March 2008 thesurplus achieved was £546k. These additional funds provide theopportunity for us to invest in our current services andinfrastructure while maintaining an appropriate level of reserves.The graphs below give an overview of how our income wasraised in the year and where our expenses were incurred.Income RaisedLegaciesQEF TradingInvestment IncomeGifts & Donations£8,730k£1,189k£948k£607k£162kCharitable ServicesThe income of the Foundation grew by £163k or 1.4% in theyear to £11,699k. The main contributors to this growth were the10% increase in gifts and donations and the 7% increase inlegacies. Income from Charitable Services remained underpressure because of restrictions in Government funding.10