The Erik Chisholm Trust

Trust Annual Report

Annual Report to Charity Commission

The report for year ending 31 August 2013 was presented at the ECT meeting on 10th March, 2014. For charities with income less than £10,000, no annual report is required other than a financial statement. Our income was well below this limit (!) and resources expended significant. At present, safe investment opportunities give negligible returns. With royalties from PRS and MCPS membership, and on-line sale of scores our income has increased recently, but over the past 4 years our expenditure is 4 times that of our income. This is not surprising given what we are trying to achieve. We cannot see how to reduce expenditure so we must increase income. Recently appointed new trustees with marketing skills will enable the Trust to achieve this.