I am pleased to report that, despite continuing uncertainty in the financial markets due to Covid-19 and another year of reduced legacy income, MAARA has been able to continue its funding of not only existing but also new research projects in 2021. As usual, income is very dependent on the level of legacies, which by its nature fluctuates from year to year. Following recent years of very high income, donations and legacies rose slightly from last year’s low level to £31,945. Our investments continued to recover from the initial Covid-related shock to the markets and their value rose despite a modest net outflow to support ongoing projects. This increase in investment capital resulted in a marginally higher income from investments this year, £23,132 which covered all our running costs in the year. As ever, we are grateful to individual MAARA members and the wider public who undertake to support our charity. Their various fundraising events contributing £3,851 this year. Total income at £55,397 showed a recovery from last year’s low.
The graph shows the significance of legacy income in recent years in relation to total income.
MAARA devotes the majority of its funds to important research projects, which is a core activity of the Association. Most of these involve asthma and allergy specialists at the University Hospitals of Leicester NHS Trust, with some existing projects continuing over the coming years. The Covid-related constraints on the workplace saw a much-reduced level of expenditure of £44,800 (£112,146 in 2020), with a commitment to funding grants with a total value in excess of £400,000 when the projects resume. Although the level of new projects was low in the year, we continue to look for opportunities to fund new research. MAARA’s emphasis on funding important research projects whilst containing administration costs is highlighted in the next graph.
Thank you again for all your support which allows MAARA to continue its research funding programmes.
Thank you again for all your ongoing support.
Peter Teasdale
Treasurer