INTERNATIONAL BUDDHIST PROGRESS SOCIETY (MANCHESTER)
The charity holds regular Sunday services, Monthly Lamp Offering Services and Special Dharma Services. It provides counselling on a variety of subjects and conducts Chinese courses. It also performs marriages and funeral services.
Financial health, per its FY2024 accounts
The accounts state that the charity generated a surplus of £134,348 on unrestricted funds, bringing the total unrestricted reserves to £484,447. The trustees note that the financial position is strengthened by restricted funds and advance donations, despite operational difficulties including having no bank account for half the year. The charity has a stated reserves policy target of £1,100,000, comprising a £1,000,000 fundraising target and £100,000 for one year's operational expenditure.
What the accounts disclose
“To ensure the charitable company can remain operational an unrestricted fund reserve equivalent to one year’s expenditure (excluding depreciation), approximately £100,000 in the current year will be required. This brings total reserve target to £1,100,000.” — page 8
Structured financials (annual return, FY ending 31/12/2023)
Trustees
- Rev Chueh Yann Shihchair
- Fong Goh Lee
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £437k | £307k |
| 31/12/2023 | £502k | £611k |
| 31/12/2022 | £240k | £122k |
| 31/12/2021 | £199k | £162k |
| 31/12/2020 | £125k | £669k |
Common questions
Is INTERNATIONAL BUDDHIST PROGRESS SOCIETY (MANCHESTER) financially healthy?
Per its FY2024 accounts: The accounts state that the charity generated a surplus of £134,348 on unrestricted funds, bringing the total unrestricted reserves to £484,447. The trustees note that the financial position is strengthened by restricted funds and advance donations, despite operational difficulties including having no bank account for half the year. The charity has a stated reserves policy target of £1,100,000, comprising a £1,000,000 fundraising target and £100,000 for one year's operational expenditure. Its FY2024 accounts were independently examined.
Charities like this
- INTERNATIONAL BUDDHIST PROGRESS SOCIETY (UK)
- NAN PING SPIRITUAL CULTIVATION ORGANIZATION OF THE UK
- COMMAND PRAYER CENTRE MINISTRIES INTERNATIONAL
- MANCHESTER BUDDHIST CENTRE
- BIRMINGHAM BUDDHIST CENTRE
- THE PAROCHIAL CHURCH COUNCIL OF THE ECCLESIASTICAL PARISH OF SAINT JOHN FARNCOMBE
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| INTERNATIONAL BUDDHIST PROGRESS SOCIETY (MANCHESTER) | £437k | — | 0 | unclear | — | no doubt |
| INTERNATIONAL BUDDHIST PROGRESS SOCIETY (UK) | £660k | — | 0 | above | — | no doubt |
| NAN PING SPIRITUAL CULTIVATION ORGANIZATION OF THE UK | £1.0m | — | 0 | unclear | — | no doubt |
| COMMAND PRAYER CENTRE MINISTRIES INTERNATIONAL | £209k | — | 0 | unclear | — | noted |
| MANCHESTER BUDDHIST CENTRE | £295k | — | 0 | above | — | no doubt |
| BIRMINGHAM BUDDHIST CENTRE | £427k | Under £60,000 | 0 | unclear | — | no doubt |