Charity Accounts Intelreading the accounts so you don’t have to

THE I T F SEAFARERS TRUST

Registered charity 281936 · accounts filings on the Charity Commission register

Latest income
£1.5m
Latest spending
£5.9m
Registered
1981
Accounts read
FY2024

Financial health, per its FY2024 accounts

The accounts state that total funds decreased from £35,036,419 to £32,865,240 due to a net loss of £2,171,179, driven by grant expenditure exceeding income. However, the trustees report that the charity has sufficient reserves and a significant asset base in investments to meet future expenditure requirements.

What the accounts disclose

Highest-paid employee band: £110,001 - £120,000 — in the top quarter for charities its size (median £76k)
“One employee received total employee benefits, excluding pension contributions, in excess of £110,000 but less than £120,000” — page 26
Per its FY2024 accounts as filed with the Charity Commission.
Governance: Serious incident report filed with Charity Commission regarding allegation of misappropriation of grant funds, though no evidence was found.
“No evidence was found to corroborate the claims, however given the sums involved a ‘serious incident report’ was made to the Charity Commission on 17 May 2024.” — page 10
Per its FY2024 accounts as filed with the Charity Commission.

Accounts audited by Azets Audit Services Ltd..

Leadership, per the charity’s website

Listed on the charity’s own website when we last crawled it; roles may have changed. Pay-band disclosures above are anonymous statutory disclosures and are not attributed to any named individual.

Funders the charity credits

Named as funders/supporters on the charity’s own website (the charity’s claim, distinct from accounts-verified grants).

Structured financials (annual return, FY ending 31/12/2024)

Total income
£1.5m
Total spending
£5.9m
Cost of raising funds
£57k
Reserves (reported)
£6.9m
Employees
5

Reported reserves equal ~13.8 months of spending — in the top quarter for charities its size (median 4.8 months; benchmarks).

Trustees

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

Operates in: Abu Dhabi · Afghanistan · Ajman · Akrotiri · Aland Islands · Albania · Algeria · American Samoa · Andorra · Angola · Anguilla · Antarctica

Income and spending

Financial year endIncomeSpending
31/12/2024£1.5m£5.9m
31/12/2023£1.9m£5.0m
31/12/2022£1.5m£6.2m
31/12/2021£1.3m£5.6m
31/12/2020£491k£9.1m

Common questions

Is THE I T F SEAFARERS TRUST financially healthy?

The accounts state that total funds decreased from £35,036,419 to £32,865,240 due to a net loss of £2,171,179, driven by grant expenditure exceeding income. However, the trustees report that the charity has sufficient reserves and a significant asset base in investments to meet future expenditure requirements. Its FY2024 accounts were audited by Azets Audit Services Ltd..

What does the highest-paid employee of THE I T F SEAFARERS TRUST earn?

Per its FY2024 accounts, the highest-paid employee was in the £110,001 - £120,000 band.

Funders of similar charities

Funders whose accounts show grants to charities similar to this one (and no recorded grant to this charity) — a starting list for fundraisers.

FunderSimilar charities fundedAmount to them
THE CORPORATION OF TRINITY HOUSE OF DEPTFORD STROND3£64k
The Caledonia Investments Charitable Foundation3£5k
The Seafarers' Charity (King George's Fund for Sailors)2£787k
MERCHANT NAVY WELFARE BOARD2£27k
BALTIC EXCHANGE CHARITABLE FOUNDATION2£25k
THE LESLIE MARY CARTER CHARITABLE TRUST2£15k
ANSON CHARITABLE TRUST2£8k
THE DIXIE ROSE FINDLAY CHARITABLE TRUST2£6k

Charities like this

Semantically similar by activities and financial character, from our analysed corpus. Compare with MERCHANT NAVY WELFARE BOARD.