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THE INSTITUTION OF ENGINEERING AND TECHNOLOGY BENEVOLENT FUND

Registered charity 208925 · accounts filings on the Charity Commission register · also known as FOOTHOLD, IET CONNECT, THE INCORPORATED BENEVOLENT FUND OF THE INSTITUTION OF ELECTRICAL ENGINEERS, THE INSTITUTION OF ELECTRICAL ENGINEERS BENEVOLENT FUND · listed website unreachable when last crawled

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Latest income
£1.6m
Latest spending
£1.2m
Registered
1962
Accounts read
FY2024

Financial health, per its FY2024 accounts

The accounts state that total reserves increased by 3.6% to £24,444,215, driven by greater-than-budgeted investment gains of £1.7m which offset a deficit between income and expenditure. However, the trustees' report notes that free reserves excluding endowed funds and designated investments fell to £336,590, representing only two months of annual expenditure, which is below the charity's stated policy target of six months.

What the accounts disclose

Highest-paid employee band: £70,001 - £80,000 — above the median for charities its size (£70k)
“In 2024 one member of staff (2023: 1) received a salary excluding national insurance between £70,000 and £80,000.” — page 28
Per its FY2024 accounts as filed with the Charity Commission.
Employees paid over £60,000: 1
“In 2024 one member of staff (2023: 1) received a salary excluding national insurance between £70,000 and £80,000.” — page 28
Per its FY2024 accounts as filed with the Charity Commission.
Reserves policy: 6 months of annual expenditure (held: £337k)
“Although this is below the level of the target we set of 6 months expenditure”
Per its FY2024 accounts as filed with the Charity Commission.
Pension scheme deficit: £1.2m
“In 2023 we were informed that there had been a slight change to the asset values in the Scheme which are now confirmed from the final audited Accounts of the Scheme that have just been meaning that the core deficit is now £1.2m compared to that previously advised of £1.0m.”
Per its FY2024 accounts as filed with the Charity Commission.

Accounts audited by Sayer Vincent LLP. Discloses 6 of 6 completeness components.

Public fundraising profile: JustGiving — Foothold, the Institution of Engineering & Technology Benevolent Fund. (matched by registered charity number).

Structured financials (annual return, FY ending 30/06/2025)

Total income
£1.6m
Total spending
£1.2m
Cost of raising funds
£261k
Reserves (reported)
£1.1m
Employees
13

Reported reserves equal ~10.4 months of spending — above the median for charities its size (median 4.8 months; benchmarks).

Trustees

Trustee list from the Charity Commission register (current, not historical).

Operates in: Australia · Canada · Ghana · Greece · Hong Kong · India · Jordan · Lebanon · New Zealand · Nigeria · Pakistan · Scotland

Income and spending

Financial year endIncomeSpending
30/06/2025£1.6m£1.2m
30/06/2024£1.2m£2.1m
30/06/2023£2.2m£2.4m
30/06/2022£1.5m£2.5m
30/06/2021£1.3m£2.9m

Common questions

Is THE INSTITUTION OF ENGINEERING AND TECHNOLOGY BENEVOLENT FUND financially healthy?

The accounts state that total reserves increased by 3.6% to £24,444,215, driven by greater-than-budgeted investment gains of £1.7m which offset a deficit between income and expenditure. However, the trustees' report notes that free reserves excluding endowed funds and designated investments fell to £336,590, representing only two months of annual expenditure, which is below the charity's stated policy target of six months. Its FY2024 accounts were audited by Sayer Vincent LLP.

What does the highest-paid employee of THE INSTITUTION OF ENGINEERING AND TECHNOLOGY BENEVOLENT FUND earn?

Per its FY2024 accounts, the highest-paid employee was in the £70,001 - £80,000 band, and 1 employees earned over £60,000.