Smart Works Trustees' Report for the year ended 31 March 2018
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Where does our money come from?<br />
O<strong>the</strong>r Activities<br />
18%<br />
Investment<br />
0%<br />
Individuals<br />
3%<br />
Trus ts and Foundations<br />
32%<br />
Corporate<br />
34%<br />
Nesta<br />
13%<br />
Investment Trusts and Foundations Nesta Corporate Individuals O<strong>the</strong>r Activities<br />
Where does our money go?<br />
Administrative expenditure , 3%<br />
Expenditure on raising funds, 4%<br />
Property related expenditure, 24%<br />
Staff related expenditure, 49%<br />
Payment to licensees , 17%<br />
O<strong>the</strong>r direct expenditure, 3%<br />
TRUSTEES’ ANNUAL REPORT 13