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CHEMICAL ENGINEERS BENEVOLENT FUND

Registered charity 221601 · accounts filings on the Charity Commission register

Provide assistance to members and ex-members of the profession of Chemical Engineering, and their immediate dependents, who, in the opinion of the Trustees, are either in necessitous or straightened circumstances, whether temporarily or otherwise of financial assistance, owing to age, illness, accident, or mental or bodily infirmity.

Causes: General Charitable Purposes · The Prevention Or Relief Of Poverty · website · Get email alerts

Latest income
£73k
Latest spending
£184k
Registered
1964
Accounts read
FY2024

Financial health, per its FY2024 accounts

The accounts state that unrestricted reserves stood at £771,004, which is above the stated policy target of £500,000. The charity reported a net expenditure of £86,195 for the year, resulting in a decrease in reserves from the previous year, though the Trustees consider the Fund to be in a strong position to deliver its strategic aims.

Automated summary of the FY2024 accounts; the evidenced findings below carry the verbatim passages.

What the accounts disclose

Largest income source: Donations (92% of income)
“The principal sources of income for the year continued to be donations from the members of the Institution of Chemical Engineers through the opt-out donation on their annual subscription renewal notices totalling £66,512” — page 6
Per its FY2024 accounts as filed with the Charity Commission.
Reserves policy: £500,000 (held: £771k)
“The reserves policy is to hold a minimum level of £500,000 to provide security to the Fund and ensure its ability to continue to provide financial assistance to new and existing beneficiaries” — page 6
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: The Institution of Chemical Engineers collects donations from its members on behalf of the Benevolent Fund which are passed directly over to the Fund throughout the year.
“During 2024, the donations collected by the Institution of Chemical Engineers was £66,457 (2023: £55,181) and the fee paid for staff administrative support was £69,504 (2023: £8,425).” — page 17
“Creditors includes an amount of £23,518 (2023: £40,400 debtor) due to the Institution of Chemical Engineers at year end.” — page 17
Per its FY2024 accounts as filed with the Charity Commission.
Related-party transaction: The Institution of Chemical Engineers provides the secretariat and treasury function for the Benevolent Fund on a voluntary basis. Administrative staff support is provided to the Benevolent Fund by the Institution, which is cross charged to the Fund at cost, based on the number of hours allocated to that activity.
“During 2024, the donations collected by the Institution of Chemical Engineers was £66,457 (2023: £55,181) and the fee paid for staff administrative support was £69,504 (2023: £8,425).” — page 17
“Creditors includes an amount of £23,518 (2023: £40,400 debtor) due to the Institution of Chemical Engineers at year end.” — page 17
Per its FY2024 accounts as filed with the Charity Commission.

Accounts independently examined (not a full audit). Discloses 5 of 6 completeness components.

Trustees · trustee networks

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

Operates in: Australia · Malaysia · New Zealand · Singapore · Throughout England And Wales

Income and spending

Financial year endIncomeSpending
31/12/2024£73k£184k
31/12/2023£62k£116k
31/12/2022£68k£65k
31/12/2021£135k£85k
31/12/2020£82k£79k

Common questions

Is CHEMICAL ENGINEERS BENEVOLENT FUND financially healthy?

Per its FY2024 accounts: The accounts state that unrestricted reserves stood at £771,004, which is above the stated policy target of £500,000. The charity reported a net expenditure of £86,195 for the year, resulting in a decrease in reserves from the previous year, though the Trustees consider the Fund to be in a strong position to deliver its strategic aims. Its FY2024 accounts were independently examined.