The British Heart Foundation's latest annual report reveals an increase in its income of £16.5m, including a 15 per cent jump in profits from its shops chain.
In its accounts for the year ended 31 March 2012, published this week, the charity reveals that the overall total combined income of its legacies, fundraising, retail and investments rose to £249.9m from £233.4m in 2011, a rise of £16.5m or 7 per cent.
Retail profits increased by 15 per cent to £28.7m, as the BHF strengthened its high street presence with an additional 45 shops, 30 of which are under its furniture and electrical brand. With 709 shops, it is the UK’s biggest charity retailer.
Income from fundraising was up slightly, from £38.2m to £38.4m - including £5m from its Mending Broken Hearts Appeal - and investment income was £6.6m, an increase of 10 per cent from £6m in 2010/11.
The BHF, which celebrated its 50th anniversary last year, did suffer a drop of 3 per cent in its legacy income (£53m down from £54.9m), but attributes this to the volatile nature of legacies.
Expenditure
The BHF spent more than £88m on research in 2011/12, funding several new grants that it divides into six categories: 139 project grants; 93 fellowships; 19 programme grants; five special projects (research projects costing more than £300,000); 11 strategic, infrastructure and new horizon grants; and four chairs, appointed to UK Centres of Excellence.
The charity also funded 17 new posts in ambulance trusts as part of its Heartstart programme, training 315,564 adults and children in emergency life support and funding the addition of 766 defibrillators in public places. It also undertook its first merger with another charity, No Smoking Day.
Going into financial year 2012/13, BHF is inviting applications for both the second round of its Centres of Research Excellence awards, and for Centres of Regenerative Medicine.
Its strategy for raising more funds includes building on the ongoing success of its sponsored bike rides and expanding its furniture and electrical retail business with a new stock strategy from its stock taskforce. BHF expects its numbers of volunteers to rise to help manage this expansion.
This story was updated on 6 December 2012.
