It is as clear today as it was then that our support is still needed, and that we must continue to fight for those who fought for us. Through the delivery of our services and the campaigning we do to ensure they have the fair deal they deserve, we must:
Spend money on the delivery of our recovery services and on championing the needs of our wounded, so that veterans can live secure and healthy lives with purpose (known as Our Services & Campaigning).
Spend money on our marketing and fundraising efforts so that we can continue to raise donations from the generous great British public and businesses (known as Fundraising).
Spend money on governance, IT systems and processes to ensure we are properly looking after the interests and data of our veterans, volunteers and supporters (known as Essential Support Costs).
Put money aside to protect the future of our services, so that we can meet unprecedented increases in demand for support and survive if our income drops (known as Keeping Reserves).
More than 90% of our income is raised by you – our donors, fundraisers, partners and grant funders. We believe you have a right to know how we spend our funds and in return, we promise that we are committed to delivering the maximum impact in return for your donations.
Please bear in mind that it is almost impossible to accurately compare how £1 is spent by different charities. No two charities are the same, and the way each one raises, spends and reports their funds is different.
The chart shows how we spent the funds you raised in 2019/20 on Our Services & Campaigning, Fundraising and Essential Support Costs. Last year, we spent £30.8m supporting wounded veterans and their families. Here’s how that was broken down:
We put our veterans at the heart of every decision we make. We spend money to raise money, and we promise that it is always to make every pound go further for our cause.
We are often asked why we hold reserves. Our reserves allow us to ensure that we can safely continue to run our services and support our wounded for a number of years, even if our donation levels fall.
Events that are outside of our control, such as economic uncertainty and more recently, the outbreak of COVID-19, can quickly have a big impact on our funds and the demand for our services.
Over the years we have built up reserves, simply so that we are able to weather storms such as these and continue to fulfil our promise to be here for veterans and their families for as long as they need us.