THE ROYAL UNITED SERVICES INSTITUTE FOR DEFENCE AND SECURITY STUDIES
RUSI is the UK's leading independent think tank on international defence and security. Its mission is to be an analytical research-led global forum for informing, influencing and enhancing public debate on a safer and more stable world.
Latest income
£16.6m
Latest spending
£16.6m
Registered
1962
Accounts read
FY2025
Financial health, per its FY2025 accounts
The accounts state that the charity ended the year with a small net income surplus of £55,344 and total net assets of £16,946,416, driven by a property revaluation. Per the trustees' report, unrestricted reserves stood at £4,998,600, representing 5.4 months of budgeted expenditure, which is below the stated policy target of six months.
What the accounts disclose
Highest-paid employee band: £170,001 - £180,000 — in the top quarter for charities its size (median £130k)
“Employees remuneration between £170,000 and £179,999 1”
Per its FY2025 accounts as filed with the Charity Commission.
Largest income source: Research (74% of income)
“The principal source of funding is research activity, which accounts for 74% of total gross income.”
Per its FY2025 accounts as filed with the Charity Commission.
Reserves position: below the charity's own stated reserves policy (held: £5.0m; policy: six months of operating expenditure)
“At 31 March 2025 the unrestricted reserves (General Fund) of £4,998,600 represented 5.4 months of budgeted expenditure for the subsequent year” — page 5
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Trustee Laurence Geller was a member of the ICS board when a £1m pledge was received; £506k paid to date.
“In August 2023 the Institute received a pledge for £1m from the International Churchill Society (ICS). At the time that the pledge was made Laurence Geller, a Trustee of RUSI, was also member of the ICS board. £506k of this has been paid to date with the remaining amounts due up to December 2033.” — page 27
“In December 2024, the Institute received £25,000 from the Duke and Duchess of Wellington Charitable Trust (2024: £12,500) as part of a wider pledge towards the funding for 61 Whitehall. His Grace the Duke of Wellington is a trustee and senior vice president of the Institute.” — page 27
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Trustee Duke of Wellington received £25,000 from his Charitable Trust.
“In August 2023 the Institute received a pledge for £1m from the International Churchill Society (ICS). At the time that the pledge was made Laurence Geller, a Trustee of RUSI, was also member of the ICS board. £506k of this has been paid to date with the remaining amounts due up to December 2033.” — page 27
“In December 2024, the Institute received £25,000 from the Duke and Duchess of Wellington Charitable Trust (2024: £12,500) as part of a wider pledge towards the funding for 61 Whitehall. His Grace the Duke of Wellington is a trustee and senior vice president of the Institute.” — page 27
Per its FY2025 accounts as filed with the Charity Commission.
Related-party transaction: Remitted £238,490 to controlled subsidiary RUSI (Nairobi) Limited for research work.
“In August 2023 the Institute received a pledge for £1m from the International Churchill Society (ICS). At the time that the pledge was made Laurence Geller, a Trustee of RUSI, was also member of the ICS board. £506k of this has been paid to date with the remaining amounts due up to December 2033.” — page 27
“In December 2024, the Institute received £25,000 from the Duke and Duchess of Wellington Charitable Trust (2024: £12,500) as part of a wider pledge towards the funding for 61 Whitehall. His Grace the Duke of Wellington is a trustee and senior vice president of the Institute.” — page 27
Per its FY2025 accounts as filed with the Charity Commission.
Trading subsidiary: RUSI Trading Limited
“Incorporated in these results is the financial performance of the Institute’s subsidiary RUSI Trading Ltd. The turnover of RUSI Trading Ltd was £830,039” — page 5
Per its FY2025 accounts as filed with the Charity Commission.
Year-over-year changes
- Top pay band moved from £180,001 - £190,000 (FY2024) to £170,001 - £180,000 (FY2025).
- Reserves position vs the charity's own policy moved from "above" (FY2024) to "below" (FY2025).
Property (HM Land Registry)
Structured financials (annual return, FY ending 31/03/2025)
Total income
£16.6m
Total spending
£16.6m
Cost of raising funds
£1.0m
Reserves (reported)
£5.0m
Employees
113
Trustees
- The Duke of Wellington Charles Wellesley OBE DLchair
- Admiral Sir Philip Andrew Jones GCB DL
- Baroness Poppy Gustafsson CBE
- Divyata Ashiya
- General Sir Nicholas Patrick Carter
- Janice Elizabeth Hall
- Laurence Stephen Geller CBE
- Lord Peter Forbes Ricketts
- Rt Hon Amber Augusta Rudd
- Rt Hon John Whitaker Straw
- Sharon Thorne
- Suzanne Elizabeth Raine
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/03/2025 | £16.6m | £16.6m |
| 31/03/2024 | £18.7m | £18.2m |
| 31/03/2023 | £16.8m | £16.0m |
| 31/03/2022 | £15.4m | £11.8m |
| 31/03/2021 | £11.1m | £9.4m |
Common questions
Is THE ROYAL UNITED SERVICES INSTITUTE FOR DEFENCE AND SECURITY STUDIES financially healthy?
Per its FY2025 accounts: The accounts state that the charity ended the year with a small net income surplus of £55,344 and total net assets of £16,946,416, driven by a property revaluation. Per the trustees' report, unrestricted reserves stood at £4,998,600, representing 5.4 months of budgeted expenditure, which is below the stated policy target of six months. Its FY2025 accounts were audited by Price Bailey LLP.
What does the highest-paid employee of THE ROYAL UNITED SERVICES INSTITUTE FOR DEFENCE AND SECURITY STUDIES earn?
Per its FY2025 accounts, the highest-paid employee was in the £170,001 - £180,000 band.
Who funds THE ROYAL UNITED SERVICES INSTITUTE FOR DEFENCE AND SECURITY STUDIES?
Funders whose own accounts filings name THE ROYAL UNITED SERVICES INSTITUTE FOR DEFENCE AND SECURITY STUDIES as a grant recipient include JOFFE CHARITABLE TRUST CIO, THE KARLSSON JATIVA CHARITABLE FOUNDATION.
Known funders
| Funder | Year | Amount | Purpose (as stated by the funder) |
|---|---|---|---|
| JOFFE CHARITABLE TRUST CIO | FY2024 | £112k | |
| THE KARLSSON JATIVA CHARITABLE FOUNDATION | FY2023 | £100k | Research initiative relevant to Latin American objective |
| JOFFE CHARITABLE TRUST CIO | FY2023 | £45k | |
| JOFFE CHARITABLE TRUST CIO | FY2022 | £32k |
Government & lottery funding
| Funder | Date | Amount | Purpose |
|---|---|---|---|
| The National Lottery Heritage Fund | 11/05/1998 | £76k | "Royal United Services Institute Library - Restoration" |
Funders of similar charities
| Funder | Similar charities funded | Amount to them |
|---|---|---|
| FITZGERALD FAMILY FOUNDATION | 1 | £275k |
| THE MCBAIN FAMILY FOUNDATION | 1 | £220k |
| THE ROTHSCHILD FOUNDATION | 1 | £170k |
| HAYDEN FAMILY (UK) LTD. | 1 | £145k |
| PRISM THE GIFT FUND | 1 | £100k |
| ELRHA | 1 | £95k |
| THE CORPORATION OF TRINITY HOUSE OF DEPTFORD STROND | 1 | £56k |
| ATKIN CHARITABLE FOUNDATION | 1 | £55k |
Charities like this
- THE ROYAL INSTITUTE OF INTERNATIONAL AFFAIRS
- INSTITUTE FOR STRATEGIC DIALOGUE
- ROYAL INSTITUTE OF NAVIGATION
- RLUK (RESEARCH LIBRARIES UK)
- THE CAMBRIDGE SECURITY INITIATIVE 2017
- UKAF RUGBY FOOTBALL CLUB
Side by side with its peers
| Charity | Income | Top pay band | Staff >£60k | Reserves vs policy | Fundraising cost | Going concern |
|---|---|---|---|---|---|---|
| THE ROYAL UNITED SERVICES INSTITUTE FOR DEFENCE AND SECURITY STUDIES | £16.6m | £170,001 - £180,000 | — | below | — | no doubt |
| THE ROYAL INSTITUTE OF INTERNATIONAL AFFAIRS | £20.2m | — | — | unclear | — | no doubt |
| INSTITUTE FOR STRATEGIC DIALOGUE | £6.1m | — | — | above | — | no doubt |
| ROYAL INSTITUTE OF NAVIGATION | £705k | £80,001 - £90,000 | 1 | unclear | — | no doubt |
| RLUK (RESEARCH LIBRARIES UK) | £590k | — | 0 | unclear | 0.0% | no doubt |
| THE CAMBRIDGE SECURITY INITIATIVE 2017 | £647k | — | 0 | unclear | — | no doubt |