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Groundwork Northern Ireland is a registered
charity and company limited by guarantee.
Financial Report for
Groundwork Northern Ireland’s total income
for the year 2009/2010 was £2.2 million, representing a slight
increase on the previous year. After deducting the cost of
generating funds and governance costs, income available for
charitable activities increased from £1.7 million in 2008/2009 to
Total expenditure rose from £1.8 million in
2008/09 to £2 million in 2009/10. This represented an
increase in programme expenditure of 10%, while the cost of
generating funds fell from 21% of total expenditure in 2008/09 to
20% in 2009/10.
The Trust’s unrestricted reserve carried
forward was £280,392, which represents 18 weeks of annual
unrestricted expenditure. This reserve provides a buffer to
absorb short-term delays in programme funding, finances working
capital needs and provides funding to cover any unforeseen downturn
carried forward were £1.6 million. These represent funding that can
only be used in accordance with the sponsor’s funding agreement for
programmes of work and therefore do not form part of the
unrestricted reserve that is under the control of the Trust’s
Cost of generating funds
41% (73% from Landfill Tax)
The above summary financial information has
been obtained from the Trust’s full audited financial statements
for the year ended 31 March 2010. A copy of which can be
obtained from the Company Secretary, Groundwork Northern Ireland,
63-75 Duncairn Gardens, Belfast, BT15 2GB or by emailing email@example.com