THE CHARTERED INSTITUTE OF MANAGEMENT ACCOUNTANTS' BENEVOLENT FUND
The relief of necessitous persons who are or have been members of The Chartered Institute of Management Accountants, or any predecessor body, and of necessitous persons connected by ties of relationship or dependency at any time with persons who are or at any time were such members.
Financial health, per its FY2024 accounts
The accounts state that unrestricted reserves stood at £2,572,000 at the end of 2024, which is above the policy target of three years of planned expenditure. The charity reported a net loss of £40,000 for the year, primarily due to grant expenditures exceeding incoming resources, but maintains adequate resources to continue as a going concern.
What the accounts disclose
“In 2024, the Fund received £93k in donations from members and £120k in investment income.” — page 3
“The Charity's reserve policy is to hold three years of planned expenditure as reserves to ensure continued financial security and to provide for contingencies and to allow for the unpredictable nature of voluntary income (particularly legacies) as well as for a possible increase in grant expenditure as CIMA membership continues to grow.” — page 3
“During 2024, a small portion of the donated services were from staff of the Association.” — page 16
Structured financials (annual return, FY ending 31/12/2023)
Register events
- Received assets from another charity (14/01/2025)
Trustees
- Andrew McGunnigle FCMA CGMAchair
- AMARJEET HANS
- Akmol Hussain
- Bulelwa Kotta
- Elaine Marie Richardson
- Matthew Miller FCMA
- Rachael Jarrett
- Rona van Hoepen
- Shahzad Ali
- Yvonne Dzotsi
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £279k | £319k |
| 31/12/2023 | £2.6m | £102k |
| 31/12/2022 | £0 | £0 |
Common questions
Is THE CHARTERED INSTITUTE OF MANAGEMENT ACCOUNTANTS' BENEVOLENT FUND financially healthy?
Per its FY2024 accounts: The accounts state that unrestricted reserves stood at £2,572,000 at the end of 2024, which is above the policy target of three years of planned expenditure. The charity reported a net loss of £40,000 for the year, primarily due to grant expenditures exceeding incoming resources, but maintains adequate resources to continue as a going concern. Its FY2024 accounts were audited by Saffery LLP.