NCCF Accounts - £78,411 to Beneficiaries, why so little?
The NCCF have published their accounts for the year ended 31st March 2019.
This blog looks at the main points of the Accounts and raises a number of questions. Especially why so little is being spent on Beneficiaries.
The opening statement gives a breakdown of the objectives of the organisation.
The Care Wellbeing and Inclusion Fund is going to be invested for 15 years. With the investment return providing the grants with a management cost not exceeding 10% of the funds annual budget. Based on grants of £100,000, this gives the management cost of £10,000. Will BH Associates still provide the grant management, £10,000 is below minimum wage. (based on 35 hours per week)
The statement also mentions the Exposure magazine, which we haven't seen since September 2019. As these accounts end at March 2019, but were prepared in December 2019, where is the quarterly magazine that Aged Veterans Fund money was given to the NCCF for? Is this expenditure being channelled elsewhere? The CHRC have just published their annual report on their own website, rather than through the NCCF channels. (https://chrc4veterans.uk/newsnew/)
£98,151 in unrestricted funds and £3,448,651 in restricted funds. What are the restricted funds? £16,295 on charitable expenditure? This is explained in Note 5, only Note 5 doesn't exist, instead it is labelled note 8. If the person preparing the report cannot count and the people checking the report didn't see it, how good are these auditors?
According to the Balance Sheet there is £388,166 in cash, why are they sitting on this much cash?
£123,328 in investment income and £295,419 in interest movements make up the £388,166.
The Charity received no donations or grant income in 2019, relying only on investment income.
So with £388,166 in cash, and a total of £3,546,802 in funds, why did the Nuclear Veterans and their families only receive £78,411 in grants? Why is this cash rich Charity not spending their money on Veterans and their families who need it now. They refuse to fund reunions, help for Veterans to conferences, the question is why? Still it is an increase from 2018 where only £47,146 was paid to beneficiaries.
Project expenditure was £910,572 seems a lot of money, but without a breakdown of payments to suppliers, Brunel and BH Associates. We will not know how this figure was arrived at.
Breaking down the support costs, the printing and postage is only £183, where is the cost of the Exposure magazine? IT costs of £141? Are they hidden in the Project costs?
Support costs have risen £7164 since 2018, I cannot remember the adverts from the NCCF in 2018-2019 but an extra £2,000 was spent. From the accounts, in 2018, the NCCF had no insurance?
A lot more travelling of the trustees was undertaken, an extra £1484 was spent, did this includes trips to France and the Aven conference?
The deficit for the year was £268,423 in total.
As stated in a previous blog, the NCCF need more applications for the CWI Fund, perhaps if they helped the BNTVA (whom without they would not have the money) and support the needs of the beneficiaries (reunions, return to Maralinga / Christmas Island etc) and channelled their advertising through the BNTVA, they would not only save money, but help the people that the money was intended for by generating more interest in the fund.
15 year investment, most Veterans will either be deceased or in their late 90's. So much for the Aged Veterans Fund, providing projects that support non-core health, wellbeing and social care needs for older veterans (born before 1 January 1950).
If you need financial assistance, apply to them, do not hesitate, they have the money!