James Pantefedwyn Foundation

01970 612806post@jamespantyfedwen.cymru

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A summary of the Annual Report and Audited Accounts for 2017/18

Annual Report

The Foundation provides grants under a number of specific headings. The amounts paid under each heading can be summarised as follows:

Religious Buildings   £35,500
Educational Purposes (Students) £278,479
Eisteddfodau £  75,440
Morlan-Pantyfedwen Lecture £      415
Urdd Gobaith Cymru £  13,200

Grants were paid to 54 postgraduate students to meet the cost of tuition fees up to a maximum of £7,000 in each case. This included two grants under the terms of the scheme administered on behalf of the former Undeb Cymru Fydd.

Audited Accounts

The total incoming resources of the Foundation during 2017-18 were £624,125. Direct charitable expenditure amounted to £533,984. The fund management charges amounted to £75,221, with governance costs being £4,767.

The income of the Foundation is derived from an actively managed endowment fund which is made up of a mixture of equity, bond, property and cash holdings. This is permanent endowment and is not available for allocation to grant recipients. Trustees have agreed a Statement of Investment Principles with their investment managers. Trustees are looking to invest on a time horizon of more than seven years and are comfortable with taking a medium/high level of risk. The value of the endowment fund at the end of 2017-18 was £14,374,645.

The ability of the Foundation to continue to provide grants and to make such grants meaningful in terms of matching inflation depends very much on growth in the value of the underlying investments. Accordingly, the investment strategy is one which seeks to secure growth in the level of annual income. From time to time this strategy has been assisted by the receipt of bequests and gifts, some of which have come from former grant recipients. The Foundation continues to welcome such gifts. All such bequests and gifts are duly recorded and invested to provide a growing stream of income to benefit individuals and organisations in Wales.

A copy of the Foundation's Annual Report can be downloaded here or is available from the Foundation office.