"The Veterans Charity"

Discussion in 'Charities and Welfare' started by chimera, May 28, 2012.

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  1. chimera

    chimera LE Moderator

    Anyone had any dealings with this charity?

    I was asked to support something, but a look at their 2011 Accounts on the Charity Commission website

    Charity overview

    seems to show that their "cost of generating voluntary income" actually exceeds the amount that they raise in "voluntary income", and that those costs include a large proportion of "travel and subsistence" and "charges for labour" (that is Charity code for salary). Seems little point in donating to a charity that appears to spends more on itself than it raises through donors?

    A quick check with a big hitter such as H4H shows its cost:income ratio to be down at 6% (i.e 94% of income is used for the purpose of the charity)

    Thoughts?

    C
     
  2. [​IMG]
     
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  3. Had a quick look through the ccounts, the chair Mr Greeno received £36,000, buit it wasnt a salary?
    the Major £7,500 in expenses.
    i am no accountant, but it does appear it costs more to raise money than what they received. Not a great business model,
    Struggling to find any monies paid out toi nidividuals or donations to "selected charities".
    BUT if you go to th ewebsite you will see a lot of work being done,
    which tells me they are legit and are doing good things.
    The Veterans Charity | Supporting veterans and forces families
    And thats why i am no accountant.

    https://www.facebook.com/theveteranscharity
     
  4. walkyrie

    walkyrie Old-Salt Book Reviewer

    Donations out in Y/E 2011 - £2,258, with a further £11,500 going out shortly after year end.

    Gut instinct? They've over stretched themselves.

    Overheads are of the same order as previous years. Same for they salary. Objectively, if the Chair devotes his life to this then he needs some remuneration to live, and the levels aren't unreasonable (I realise this is is controversial).
    Donations received are down considerably.

    If you read through "Performances and Achievements" they've been up to alot more in 2011, but clearly the donations don't match up to this. My guess - a couple of flopped events.

    No offence intended, and respect to anyone who does what they can (even if it sometimes doesn't work out)
     
  5. They were originally named Project65 and have done some goodwork in the past. A fair few lads at my unit have raised money for them by taking part in events such as the Forces March. Sadly though the guy who runs that charity has been known to spend more money on the corporate image rather than on those that really need it. Heard a story from someone about a car number plate being bought for some big dosh that was effectively made redudant when the charity's changed name.
     
  6. The trouble with your post above is that people have still given, believing it would go to the cause they were supporting.

    In fact it would appear most has gone on admin and fund raising.

    Devoting ones life to charity is about sacrifice not income replacement. It is true that very many charities have massive staff and massive salary bills, I do not support those charities, unless they can prove that the staff are actually providing support and welfare to its beneficiaries (good example BLESMA, but even there I do worry about the fund raising staff).

    Being "up to alot" keeps them busy (or at least the web site busy) and gives potential donors a picture of a financially viable business; perhaps this justifies some expenses.

    They appear to be quite happy to spend donations on admin and expenses, the choice where you put your hard earned money, is, as ever, up to you.

    Charity has become an industry, it employs 10s of thousands has an annual income of over GBP60 billion and to some it is too much to resist the easy pull of set one up and see how it goes.
     
  7. I do think however that most go into the charity sector to do good, there are some massive egos out there, but mostly it's altruistic.
     
  8. No doubt, after all, we have only 162,000 registered charities in England and Wales, every single one of them set up by truly altruistic and worthy egos. It is an industry, like it or not, it provides jobs and well being for many of its founders. What many of the charities do for charity is less clear.

    Take time and go through the thousands of service related charities, as I have done. Husband trustee, wife employed by. See how many are late in providing annual returns. Do the calc on fund raising to charitable distribution. Ask why, many need 50% reserve funding (to cover another years salaries perhaps?). Look into the fund raising activities, 75% of funds from raffle ticket sales to the fund raising company, charity parachute jumps; 100% to the jump what left for charity?

    Many people who work in charity make a lot of money from charity, sadly they appear, in so many cases to be the sole beneficiaries.

    And when you have finished the service charity sector audit you can start on the rest, it only gets worse.
     
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  9. sirbhp

    sirbhp LE Book Reviewer

    too many forces charities paying too many wages in my humble opinion. that's why we had Royal British legion Blessma etc . They could have done with all this dosh that is being drawn away and provided more services .

    I rember as a seven year old saving up five bob to help the starving in Africa , some 56 years ago . But nothing has changed much except we now have more chariet's than ever fighting over the dosh . Some joined up thinking called for if you ask me .
     
  10. walkyrie

    walkyrie Old-Salt Book Reviewer

    I must admit it was a very optimistic view on my part having spent 5 minutes looking at the accounts.

    That's the kind of information you don't see on the Charity Commission website....
     
  11. Some charities set themselves up as lobbyists and pressure groups. That is they lobby for changes to the Law or the system to benefit Ex-Services. I know little about this charity but if that is their main thrust of activity then you wouldn't expect to see much going out in the way of grants etc so their cost of raising may be more operational costs rather than paying people to shake tins.
     
  12. chimera

    chimera LE Moderator

    The accounts show exactly where the expenditure goes: the cost of running events. Any charity in which the cost of raising income exceeds the income is in a bad place. These guys are lucky that they appear not to be audited, as otherwise the Charity Commission would be all over them.