THE SOCIETY OF MARY (MARIST FATHERS) CIO
Latest income
£789k
Latest spending
£884k
Registered
2018
Accounts read
FY2023
Financial health, per its FY2023 accounts
The accounts state that the charity held free reserves of £3,710,691 at the end of the year, which the trustees consider sufficient to meet operational challenges and support its aging membership. The charity reported a net decrease in funds of £501,355, driven by investment losses and higher grant expenditures, but maintains a strong net asset position of over £15 million. The trustees confirm there are no material uncertainties regarding the charity's ability to continue as a going concern.
What the accounts disclose
Reserves policy: up to five years' worth of expenditure (held: £3.7m)
“the trustees believe that the level of free reserves may be up to five years' worth of expenditure without giving rise to concern.” — page 13
Per its FY2023 accounts as filed with the Charity Commission.
Related-party transaction: NDF contributed £62,276 to the Charity for the support of the clergy.
“During the year to 31 December 2023, NDF contributed £62,276 (2022 - £46,255) to the Charity for the support of the clergy and the Charity made donations of £3,000 to Notre Dame Refugee Centre CIO. Bishop Alan Williams and Father Desmond Hanrahan were not involved in either decision.” — page 42
“During the year to 31 December 2023, NDF contributed £62,276 (2022 - £46,255) to the Charity for the support of the clergy and the Charity made donations of £3,000 to Notre Dame Refugee Centre CIO. Bishop Alan Williams and Father Desmond Hanrahan were not involved in either decision.” — page 42
Per its FY2023 accounts as filed with the Charity Commission.
Related-party transaction: Charity made donations of £3,000 to Notre Dame Refugee Centre CIO.
“During the year to 31 December 2023, NDF contributed £62,276 (2022 - £46,255) to the Charity for the support of the clergy and the Charity made donations of £3,000 to Notre Dame Refugee Centre CIO. Bishop Alan Williams and Father Desmond Hanrahan were not involved in either decision.” — page 42
“During the year to 31 December 2023, NDF contributed £62,276 (2022 - £46,255) to the Charity for the support of the clergy and the Charity made donations of £3,000 to Notre Dame Refugee Centre CIO. Bishop Alan Williams and Father Desmond Hanrahan were not involved in either decision.” — page 42
Per its FY2023 accounts as filed with the Charity Commission.
Related-party transaction: Charity paid £10,000 to Notre Dame de France — Society of Mary CIO for professional fees.
“During the year to 31 December 2023, NDF contributed £62,276 (2022 - £46,255) to the Charity for the support of the clergy and the Charity made donations of £3,000 to Notre Dame Refugee Centre CIO. Bishop Alan Williams and Father Desmond Hanrahan were not involved in either decision.” — page 42
“During the year to 31 December 2023, NDF contributed £62,276 (2022 - £46,255) to the Charity for the support of the clergy and the Charity made donations of £3,000 to Notre Dame Refugee Centre CIO. Bishop Alan Williams and Father Desmond Hanrahan were not involved in either decision.” — page 42
Per its FY2023 accounts as filed with the Charity Commission.
Related-party transaction: Trustees donated £39,454 in pensions via Gift Aid.
“During the year to 31 December 2023, NDF contributed £62,276 (2022 - £46,255) to the Charity for the support of the clergy and the Charity made donations of £3,000 to Notre Dame Refugee Centre CIO. Bishop Alan Williams and Father Desmond Hanrahan were not involved in either decision.” — page 42
“During the year to 31 December 2023, NDF contributed £62,276 (2022 - £46,255) to the Charity for the support of the clergy and the Charity made donations of £3,000 to Notre Dame Refugee Centre CIO. Bishop Alan Williams and Father Desmond Hanrahan were not involved in either decision.” — page 42
Per its FY2023 accounts as filed with the Charity Commission.
Year-over-year changes
- Reserves position vs the charity's own policy moved from "below" (FY2022) to "within" (FY2023).
Structured financials (annual return, FY ending 31/12/2024)
Total income
£789k
Total spending
£884k
Cost of raising funds
£25k
Reserves (reported)
£15.5m
Employees
4
Register events
- Received assets from another charity (09/07/2019)
Trustees
- Rev DESMOND HANRAHAN SMchair
- REV PETER CORCORAN SM
- Rev Alan Stephen Williams sm
- Rev IVAN DAVORIN VODOPIVEC SM
- Rev KEVIN LEO DUFFY SM
- Rev Thomas Martin McAnaney sm
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £789k | £884k |
| 31/12/2023 | £958k | £1.2m |
| 31/12/2022 | £6.1m | £2.0m |
| 31/12/2021 | £789k | £950k |
| 31/12/2020 | £1.5m | £687k |
Common questions
Is THE SOCIETY OF MARY (MARIST FATHERS) CIO financially healthy?
The accounts state that the charity held free reserves of £3,710,691 at the end of the year, which the trustees consider sufficient to meet operational challenges and support its aging membership. The charity reported a net decrease in funds of £501,355, driven by investment losses and higher grant expenditures, but maintains a strong net asset position of over £15 million. The trustees confirm there are no material uncertainties regarding the charity's ability to continue as a going concern. Its FY2023 accounts were audited by Buzzacott LLP.