The Institute of Physics Benevolent Fund
The fund was formed in 1924. The sole object of the fund is: "To help necessitous persons who are or have been members of the Institute of Physics (whether subscribers or not), their wives, and children or widows or dependent relatives, or in exceptional cases, to help Physicists or the dependents who are not or have never been members of the Institute".
Financial health, per its FY2025 accounts
The accounts state that total unrestricted reserves stood at £2,670,598, providing a strong net asset position. The trustees report that this position allows the charity to continue offering support for at least 12 months from the signing date. The charity maintains a reserves policy focused on safeguarding the investment fund's value rather than constraining grant disbursements by current income.
What the accounts disclose
“The trustees have decided that the total value of grants need not be constrained by the income available to fund them in any period. They are therefore prepared when necessary to sanction the sale of investments to fund grants. Trustees will however monitor the overall disbursement of grants against the requirement to maintain an investment fund of sufficient value to safeguard the ongoing existence of the charity.” — page 5
Trustees
- PROFESSOR JULIAN JONES OBEchair
- Brian Fulton
- Dr Gayle Calverley-Miles
- Professor Paul Hardaker
- Professor Stephen Frederick Keevil
- Professor Stuart Beaumont Palmer
- Yvonne Kavanagh
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2025 | £81k | £28k |
| 31/12/2024 | £72k | £51k |
| 31/12/2023 | £56k | £28k |
| 31/12/2022 | £48k | £60k |
| 31/12/2021 | £45k | £46k |
Common questions
Is The Institute of Physics Benevolent Fund financially healthy?
Per its FY2025 accounts: The accounts state that total unrestricted reserves stood at £2,670,598, providing a strong net asset position. The trustees report that this position allows the charity to continue offering support for at least 12 months from the signing date. The charity maintains a reserves policy focused on safeguarding the investment fund's value rather than constraining grant disbursements by current income. Its FY2025 accounts were independently examined.