ISSUE 9, April 2004

Editorial
The Duke of Wellington: A Brother in arms
Quarterly Communication: Address of the Grand Master and Report of the Board of General Purposes
Life with the Stars: Masons and famous people
Hall Stone Jewel: Cyril Spackman, designer
Travel: Jamaica
Grand Charity: Annual Report and Accounts
Masonic stamps: Masonry on stamps
Library & Museum of Freemasonry: Antients and Moderns go on-line
Masonic education: Events for Freemasons
Masonic charities: The continuing work
Bowel cancer: How the Grand Charity is helping
Royal Arch: Russia and Eastern Europe
Letters
Richard Eve: A former Grand Treasurer
Book reviews
Gardening

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Overall Financial Position – Year ended 30 November 2003
The deficit for the general unrestricted fund was £897,600 (2002: £2,934,300), after accounting for net gains on investments of £930,200. After taking into account the operating deficit and the net gains on investments, the General Unrestricted Fund at 30 November 2003 was £15.5m and the General Designated Fund was £2.5m.
       A summary of the operating income and expenditure, directly attributable to the unrestricted fund, is as follows:


2003
2002

£000
£000
Income
Contributions from Lodges
1657.6
1537.4
Festivals
1318.4
2407.3
Investment income
622.7
643.9
Donations and legacies
534.3
491.4
Total income
4133.0
5080.0

Expenditure
Masonic grants
2225.3
1541.0
Non-Masonic grants
1548.9
2412.5
Investment management fees
36.1
44.5
Other overhead expenses
540.6
606.2
Total expenditure
4350.9
4604.2
Operating (deficit)/surplus
(217.9)
475.8

In addition to the costs outlined above, further costs relating to the operation of the Relief Chest Scheme and the Transferred Beneficiaries Fund have been borne by the unrestricted fund, as part of the Grand Charity’s service to Freemasonry, as follows:


2003
2002

£000
£000
Relief Chest Scheme costs
229.8
193.9
Transferred Beneficiaries Fund costs
22.3
40.3
Total expenditure
252.1
234.2

The accounts, which have been prepared in accordance with the SORP (Statement of Recommended Practice) for charities, include the restricted funds of £30.4m held in the Relief Chest Scheme and £12.6m in the Transferred Beneficiaries Fund.
       The Relief Chest Funds are administered free of charge to the holders. They are disbursed only on the instruction of the chest holders and are, therefore, presented as a restricted fund.
       The Transferred Beneficiaries Fund is a separate restricted income fund to make payments to former beneficiaries of the Royal Masonic Benevolent Institution.

Applicants – Masonic Relief Grants
During the year ended 30 November 2003, grants were paid by the Grand Charity to 1,496 applicants, for a total sum of £2.26m, an average of £1,510 per grant. Grants usually range from between £300 to £4,500 in any individual case.
       In addition, payments were made through the Transferred Beneficiaries Fund to former beneficiaries of the RMBI amounting to £1.83m for the year. The number of active beneficiaries in December 2003 was 1,743.

Total grants and donations


£000
Masonic Grants
2225.3
Non-Masonic Grants
Emergency Grants for Relief Aid
20.0
Hospices: Grants to 202 hospices
500.0
Disability Charities
85.0
Health Care Charities
120.0
Other Grants under £10,000 to 73 charities
200.0
Designated Grants (New Designations £1.98m)
623.9
Relief Chest Disbursements
4556.7
Total Grants as per Statement of Financial Activities
8330.9