FASHION & TEXTILE CHILDREN’S TRUST 257136
In the 19th century when Charles Dickens was chairman this charity was called the ‘Warehousemen & Clerk’s School’ subsequently renamed Purley Children’s Trust, The Textile Industry’s Children’s Trust and now glorying under the current name and focus. It helps the children of folk who have worked for more than a year in clothing retail, clothing manufacture, laundry or fashion.
Even today these sectors seldom offer secure, well paid jobs. In the UK the demise of so many retail outlets and foreign clothes imports has added to the stress such a charity may feel on behalf of their ‘clients’. Indeed they have helped 547 children at a cost of £198,184 this year but currently report on the website ‘…just a quick note to say we know we’ve been a bit quiet on this front recently. We’ve had a few comings and goings over the last few months, so things have been a bit up in the air! ..’
I wanted a charity in this space where I could be positive and able to help as I can envisage a significant need. Large corporate mismanagement, high street closures, pension and redundancy problems must be depressing for staff in these areas. After looking through their reports and accounts I have a couple of issues.
- They have £8,950,000 pounds in reserves potentially built up over many decades of prudent even parsimonious policies and a school sale. At current levels of new grant money already in the bank could cover 30 years further grants.
- Have the charity added ‘Fashion’ to be in the fashion of broadening their remit to attract more requests from grantees? Is there an inclination to add to the core charitable remit rather than excelling on the real job to be done.
- Salary costs are conservative but the ‘cost of raising funds’ at £95k is too high when only £36k is raised from donations and trading. The main 95% of income comes from historic investment income. Hence there is little or no incentive for new donors to become involved.
- The 600+ year old Drapers Company 251403 makes grants in similar areas including Education and Young People , Social Welfare and Textiles and Heritage with it’s £65m funds. Despite a higher income, reserves and profile I am still not sure they do a better job.