CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE)
Financial health, per its FY2022 accounts
The accounts state that the charity reported a net outgoing of resources before transfers of £1,617,447 for the year ended 31 December 2022, driven by a significant net loss on investments of £4,875,347. Despite this loss, the charity holds substantial unrestricted funds of £50,212,069 and the trustees maintain a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future.
What the accounts disclose
“During the year the Trustees received living and holiday allowances totalling £23,900 (2021: £22,350). In addition, the charity paid travel expenses totalling £24,197 (2021: £13,005). The charity paid medical expenses totalling £5,072 (2021: £3,026 refund). The charity also provides the Trustees with the use of a vehicle and accommodation (including the payment of council tax, rates and relevant bills) for the current and previous financial year. All these costs were in relation to the Trustees duties as missionaries rather than in relation to their duties as a Trustee.” — page 22
“During the year the Charity for St Joseph's Missionary Society (British Region) paid over £571,816 (2021: £658,493) in donations to support the Generalate's mission activities. At the year end, £334,895 (2021: £518,166) is included within debtors relating to amounts owed by the Charity for St Joseph's Missionary Society (British Region). Although the British Region and Generalate do not share any common Trustees, they do work closely with each other and are deemed to be related parties for disclosure purposes.” — page 26
“At the year end, £9,860 (2021: £9,200) is included within debtors relating to amounts owed by Fleming Dun Trust, a charity with common trustees.” — page 26
“During the year the Charity for St Joseph's Missionary Society (British Region) paid over £571,816 (2021: £658,493) in donations to support the Generalate's mission activities. At the year end, £334,895 (2021: £518,166) is included within debtors relating to amounts owed by the Charity for St Joseph's Missionary Society (British Region). Although the British Region and Generalate do not share any common Trustees, they do work closely with each other and are deemed to be related parties for disclosure purposes.” — page 26
“At the year end, £9,860 (2021: £9,200) is included within debtors relating to amounts owed by Fleming Dun Trust, a charity with common trustees.” — page 26
Structured financials (annual return, FY ending 31/12/2024)
Trustees
- REV Michael Corcoranchair
- REV Jimmy Adolacion Lindero MHM
- Rev Bernie Abiera Luna
- Rev Gerard Paul Hastie
- Rev Philip Adede Amek
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £3.3m | £4.2m |
| 31/12/2023 | £3.3m | £3.3m |
| 31/12/2022 | £6.3m | £3.0m |
| 31/12/2021 | £3.3m | £3.2m |
| 31/12/2020 | £3.0m | £3.5m |
Common questions
Is CHARITY FOR ST JOSEPH'S MISSIONARY SOCIETY (GENERALATE) financially healthy?
The accounts state that the charity reported a net outgoing of resources before transfers of £1,617,447 for the year ended 31 December 2022, driven by a significant net loss on investments of £4,875,347. Despite this loss, the charity holds substantial unrestricted funds of £50,212,069 and the trustees maintain a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Its FY2022 accounts were audited by Robson Laidler Accountants Limited.