Towards Improving Youth Mental Health - Annual Report 2018

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TOWARDS IMPROVING YOUTH MENTAL HEALTH ANNUAL REPORT 2018 5 Charity Finances 5.1 Financial Overview In 2018 we increased our income from fundraising and corporate sponsorship by 1.6% to €139,691 (2017 €137,405) while the cost of raising income was reduced by 39% in 2018 to €16,468 in spite of the increase in income. The cost of governance increased by 52% in 2018 to €5,617 as a result of increased audit costs. However cost of administering the charity fell by 7% in 2018 to 13% from 20% in 2017 and although this is still slightly above the Trustees’ target of 12% it is a big improvement over the previous year. 5.2 Charitable Income 2018 2017 € € Income 139,691 137,405 There was an increase in charitable income of 1.6% to €139,691. Income for 2018 was derived from a mix of fundraisers, charity events such as skydives and corporate sponsorship. 5.3 Charitable Expenditure 2018 2017 € € Charitable Expenditure Outreach Programme 12,701 23,393 Schools Programme 72,625 39,362 Awareness programme 18,294 5,633 103,620 68,388 We increased charitable expenditure in 2018 by €35,232 to €103,620. As parts of the Outreach programme were transferred into the Schools Programme in 2018 there was an increase in the Schools budget of €33,263 and a balancing fall in the Outreach budget of €10,692. The cost of facilitating the schools programme was €40,979, an increase of €5,837 on 2017, but still €18,000 below the contracted costs. The costs of providing resource packs and the overall costs of printing for schools also rose during 2018 which contributed to the overall schools expenditure increase. Awareness expenditure increased by €12,661 as a result of the costs of providing the Parents Programme events. 5.4 Cost of Fundraising 2018 2017 € € Cost of fundraising 16,468 27,099 YOUTH SUICIDE PREVENTION IRELAND PAGE 26
TOWARDS IMPROVING YOUTH MENTAL HEALTH ANNUAL REPORT 2018 The cost of fundraising is always an issue for charities and we are delighted that in 2018 we were able to reduce the cost of raising income by 39% over 2017 while increasing income by 1.6% in the same period. 5.5 Cost of Governance 2018 2017 € € Governance Expenses Accountancy 1,000 - Auditor's remuneration 4,617 3,690 5,617 3,690 The cost of governance of the charity, being the costs of fulfilling the charity’s statutory obligations under the Charities Act 2009, increased by 52% over 2017. This was due to the increase in the cost of auditing but also from the Trustees’ decision to use separate accountants to prepare the financial statements for auditing. 5.6 Cost of Administration 2018 2017 € € Administrative Expenses Rent and storage 7,144 7,297 Insurance 1,731 1,574 Computer costs 1,806 3,282 Light and heat 949 1,101 Office costs 429 2,588 Repairs and maintenance 280 - Telephone 1,349 3,279 Legal and professional 224 - Bank charges 3,700 3,952 General expenses - 845 Depreciation 1,246 4,137 18,858 28,055 The cost of administering the charity decreased by 33% in 2018 due to lower IT and telephone costs as well as a decrease in asset depreciation of 70% over 2017. The ratio of administration costs to general income for 2018 was 13% a decrease of 7% from 2017. This means that in 2018 87% of general income was available to spend on charitable programmes or 87c for each €1 donated. 5.7 Youth Suicide Prevention Ireland Publications Limited The Trustees formed Youth Suicide Prevention Ireland Publications Ltd in December 2014 so that the Schools Programme could be operated from a limited liability company as this reduced the cost of public liability and professional indemnity insurance that the charity would have to pay to protect itself against any legal issues arising. There is a Service Agreement in place between the company PAGE 27 YOUTH SUICIDE PREVENTION IRELAND
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Towards Improving Youth Mental Health - Annual Report 2018

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