How we are Funded
We provide all our services free of charge.
In the financial year ending April 2008 we received £6 million of funding. 32% of our funding came from the NHS, 44% came from donations, sponsorship and events, 19% came from our Hospice Shops and Hospice Lottery with the remaining 5% coming from investments that our Trustees have made.
In the same year we spent £4.2million on delivering services. The cost of fundraising, net of the costs of the Shops and the Lottery, was kept to under 8% of the amount raised. This means that for every £1 donated to Severn Hospice, 92p went straight to patient care.
During the year we spent an additional £1.9million on buildings and equipment. £1.7million was spent on building the new Hospice in Telford while £200,000 was spent improving the facilities at the Hospice in Shrewsbury. We expect to have spent £350,000 more on buildings and equipment in Telford during 2008-2009.
We hold reserves of money partly to make sure we can deliver services if our income dries up, and partly to save up for future improvements to buildings and equipment. If we don’t think we will need the reserves within two years we can invest the money.
We sold all our investments in 2006-07. This meant that we avoided the stock market losses of the final quarter of that year. We have not had funds to invest long term since then. We did receive shares to the value of £275,000 in a legacy in March 2008.
By being careful with our money, we made a surplus in 2007-08 and so we were able to increase our reserves.
Download our most recent set of accounts for further details.
