SISTERS OF CHRISTIAN EDUCATION CIO
Financial health, per its FY2024 accounts
The accounts state that total funds increased to £7,281,438, driven by significant investment gains of £384,768 which offset a net expenditure of £201,163 before gains. The trustees consider the level of free reserves adequate given the inherent volatility of world stock markets and the charity's long-term investment strategy. The charity maintains a designated retirement fund of £1,650,000 to cover the increasing costs of caring for its elderly members.
What the accounts disclose
“The trustees consider that, given the nature of the charity’s work, the level of free reserves should be sufficient to generate enough income to cover approximately one year’s on-going expenditure (excluding donations) and to provide for contingencies, unevenness in future income and volatility in the value of investments.” — page 11
“During the year, the charity authorised a donation of £65,000 (2023 – £65,000) to the Louis Lafosse Educational CIO. At the year end, no amounts were payable to or receivable from the Louis Lafosse Educational CIO (2023 – £3,000 was owed to the charity by the Louis Lafosse Educational CIO)” — page 40
“The charity has made payments for rent of a property totalling £7,200 (2023 – £7,200) to the Farnborough Hill Trust, a charitable company, of which Sister Elizabeth McCormack, Sister Rosemary O’Looney and Sister Cara Nagle, trustees of the charity, are members.” — page 40
“During the year, the charity authorised a donation of £65,000 (2023 – £65,000) to the Louis Lafosse Educational CIO. At the year end, no amounts were payable to or receivable from the Louis Lafosse Educational CIO (2023 – £3,000 was owed to the charity by the Louis Lafosse Educational CIO)” — page 40
“The charity has made payments for rent of a property totalling £7,200 (2023 – £7,200) to the Farnborough Hill Trust, a charitable company, of which Sister Elizabeth McCormack, Sister Rosemary O’Looney and Sister Cara Nagle, trustees of the charity, are members.” — page 40
Year-over-year changes
- Reserves position vs the charity's own policy moved from "below" (FY2023) to "above" (FY2024).
Register events
- Received assets from another charity (13/08/2021)
Trustees
- SISTER ELIZABETH MCCORMACKchair
- ANTHONY JOHN WOOLSTON CDIPAF
- SISTER CARA NAGLE
- SISTER ROSEMARY O'LOONEY
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/07/2025 | £292k | £1.0m |
| 31/07/2024 | £312k | £514k |
| 31/07/2023 | £297k | £696k |
| 31/07/2022 | £277k | £571k |
| 31/07/2021 | £295k | £556k |
Common questions
Is SISTERS OF CHRISTIAN EDUCATION CIO financially healthy?
The accounts state that total funds increased to £7,281,438, driven by significant investment gains of £384,768 which offset a net expenditure of £201,163 before gains. The trustees consider the level of free reserves adequate given the inherent volatility of world stock markets and the charity's long-term investment strategy. The charity maintains a designated retirement fund of £1,650,000 to cover the increasing costs of caring for its elderly members. Its FY2024 accounts were audited by Buzzacott LLP.
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| SANTANDER UK FOUNDATION LIMITED | 1 | £41k |
| THE FYRISH FOUNDATION | 1 | £10k |