In 1882 Wilson Carlile established The Church Army with a vision to train ordinary Christian men and women to reach those most in need with the gospel. Carlile started to hold open air gatherings where he would encourage grooms, coachmen and other working people to share their faith in both words and action. As The Church Army grew Carlile also focused the charity’s work on the slums of Westminster – one of the darkest spots in London.
The charity claims ‘EVERY £1 YOU DONATE GOES TO OUR FRONTLINE’ except looking after £31m of reserves and assets has significant costs and this plus raising funds of £6m pa costs over a £1m! Thus at least a sixth of every £1 does not go to the frontline.
Reserves are 6 times the annual expenditure . Perhaps new plans will see more of the reserves dedicated to helping the homeless.
Balancing the Balance Sheet
Perhaps these extracts from the published accounts go some way to explaining why so much is spent on funding matters:’
- Derivative financial instruments are initially measured at fair value at the date on which a derivative contract is entered into and are subsequently measured at fair value through profit or loss.We employ derivatives for the purposes of reducing risk in the portfolios.
- Exchange traded forward currency contracts are held for hedging all or part of the overseas currency exposure in the portfolio. Other derivatives are held within the Ruffer Protection Strategies Fund
- The Society holds a variety of basic financial instruments as part of its day-to-day activities, principally investments, bank deposits and accounts
- The investment managers at times use hedges as part of a cautious investment strategy to reduce the underlying risks in the
portfolio, but do not actively seek to invest in hedge funds.
- The Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value
- Current asset investments include cash on deposit and cash equivalents.’