What is Teapot Trust’s financial position?

Here is a summary of Teapot Trust’s financial performance for the year ending 31 March 2022.

We ended the financial year in a position of relative strength.

Breakdown	2021-2022	2020-2021	2019-2020
Total income	£362,486	£375,350	£358,521
Total unrestricted income	£272,031	£239,145	£145,618
Total expenditure	£347,837	£292,642	£402,907
Total cash in the bank at 31 March	£237,163	£260,568	£126,249
Total unrestricted reserves	£113,716	£62,747	£30,282

 

A total income of £362,486 represents a strong performance in the second year of COVID-19. Securing 63% of grants for Unrestricted purposes during this time of uncertainty is a significant achievement. Total expenditure at £347,837 rose on the previous year due to the re-introduction of some in-person art therapy services and the scaling up of work – 745 beneficiaries compared with 319 in the previous year. This is a solid base on which to build in 2022-2023.

Income

• Overall, 75% of income was for Unrestricted purposes.
• 67% of income came from 84 grants – a total of £241,605 was awarded.
• 63% of grants were for Unrestricted purposes and 37% for Restricted purposes.
• Overall, the success rate for funding applications was 1 in 6.
• The largest award of £27,940 came from the Scottish Government’s Adapt & Thrive fund administered by the SCVO.
• Commitments to fund multi-annual awards were received from six funders – A M Pilkington Trust, Eleanor Rathbone Charitable Trust, Hugh Fraser Foundation, Matrix Causes Fund, Prince of Wales Charitable Foundation and Robertson Trust.

Expenditure

• Art therapy costs, as a percentage of income, were 28%
• Staff costs, as a percentage of income, were 43%
• Total marketing costs (including marketing salary costs) represent 12% of expenditure.

Fundraising ROI

• 100% of Fundraising costs (including fundraising salary costs) at £69,595 have been included in calculating the fundraising ROI – each £1 spent generated £5.20.