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Lmao. Captain Tom foundation received >£1,000,000 in donations last year & used it to make four (4) grants of £40,000 to other charities.
600k unspent. Of the 400k spent, 240k was spent on fundraising including 160k on ‘management’. 160k management costs to distribute 4 grants. pic.twitter.com/8Ay74uOrje
In the spirit of reconciliation and happiness at the end of the Banter Era (RIP) and as a result of promotion I have cleared out my ignore list. Look forwards to reading your posts!
Hmm, I've just had a read of the accounts. I do generally think people need to be really careful not to jump to conclusions, especially off the back of filleted accounts with no context. Having said that, the disclosure of the related party transactions does look somewhat iffy. To caveat, I have no idea what services they've recieved or if these are fair market values for the services they're received and on which they've expended funds. I think in that position myself I would be keen to use independant 3rd parties, but I'm not passing judgement.
"During the period reimbursement of costs of £16,097 were made to Club Nook Limited, a company under the control of H Ingram-Moore (a trustee for part of the period and spouse of a trustee), in respect of accommodation, security and transport relating to Captain Sir Tom Moore travelling around the UK to promote the charitable company. H Ingram-Moore and DC Ingram-Moore are also directors of Club Nook Limited. During the period payments of £37,942 were made to Maytrix Group Limited, a company under the joint control of D C Ingram-Moore and H Ingram-Moore, in respect of website costs (£5,030), photography costs (£550), office rental (£4,500), telephone costs (£656) and third-party consultancy costs (£27,205). These costs were initially funded by Maytrix Group Limited on behalf of the charitable company, and reimbursed when sufficient funds were available. H Ingram-Moore and D C Ingram-Moore are also directors of Maytrix Group Limited".
Hmm, I've just had a read of the accounts. I do generally think people need to be really careful not to jump to conclusions, especially off the back of filleted accounts with no context. Having said that, the disclosure of the related party transactions does look somewhat iffy. To caveat, I have no idea what services they've recieved or if these are fair market values for the services they're received and on which they've expended funds. I think in that position myself I would be keen to use independant 3rd parties, but I'm not passing judgement.
"During the period reimbursement of costs of £16,097 were made to Club Nook Limited, a company under the control of H Ingram-Moore (a trustee for part of the period and spouse of a trustee), in respect of accommodation, security and transport relating to Captain Sir Tom Moore travelling around the UK to promote the charitable company. H Ingram-Moore and DC Ingram-Moore are also directors of Club Nook Limited. During the period payments of £37,942 were made to Maytrix Group Limited, a company under the joint control of D C Ingram-Moore and H Ingram-Moore, in respect of website costs (£5,030), photography costs (£550), office rental (£4,500), telephone costs (£656) and third-party consultancy costs (£27,205). These costs were initially funded by Maytrix Group Limited on behalf of the charitable company, and reimbursed when sufficient funds were available. H Ingram-Moore and D C Ingram-Moore are also directors of Maytrix Group Limited".
Certainly some punchy consultancy costs.
Those mysterious consultancy costs are a red flag but let’s hope this is nothing more than well-intentioned family members trying to do the right thing and unexpectedly having to deal with very large sums of money - on top of never having run a charity before.
From reading the accounts, that unspent money been invested in order to keep making grants over a lengthy period (which is how almost all Trusts work).
The bulk of the 'management' expenses comprised £126k spent on charity consultants*, probably identifying and working on potential major donors. Sounds a lot of money, but it helped them raise over £1m.
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