COLLEGE FINANCES
The summarised information below is taken from the financial statements for the year ended 31 July 2016 (see www.dulwich.org.uk/college/about/ annual-report-and-accounts for the full report). All the College’s funds are committed to the pursuit of its charitable objectives.
What is the breakdown of the College’s expenditure?
Distribution of funds raised During the financial year 1 August 2015 to 31 July 2016, the College raised £1.8 million of philanthropic income, which was used for bursaries, The Laboratory, and ‘other’ - including specific projects, unrestricted income, prizes and awards.
Staff, operating, trading and finance costs along with depreciation account for 84% of the annual bill. £3.4 million was spent on bursaries and scholarships, leaving a surplus of £3.3 million which helped fund the capital expenditure of £8.3 million during the year including £5.5 million on The Laboratory, which was also funded by borrowing from the endowment.
What is the breakdown of the College’s annual income? Fees; trading (e.g. lettings and International Schools) and
investment income from the College’s endowment account for 90% of the annual income. The Dulwich Estate gave an income distribution of £2.4 million and £1.8 million came from fundraising during the year.
Expenditure 2015/16 - £43 million
BURSARY APPEAL FUND
STAFF COSTS £24m
55%
Income 2015/16 - £43 million
THE LABORATORY
51%
OTHEROPERATING COSTS £6m
FEES & EXTRAS £34m
13%
79%
The Bursary Appeal Fund From the time of the Founder, Edward Alleyn, who established his College of God’s Gift to provide ‘good learning’ to ‘twelve poor scholars’, Dulwich College has enjoyed a long history of offering an outstanding education to bright boys regardless of their families’ financial means. Many Old Alleynians will remember – and have been beneficiaries of – the ‘Dulwich Experiment’, begun in the 1940s by the then Master of the College, Christopher Gilkes. Under this scheme the fees of boys who passed the entrance examinations were paid for by the boys’ local authorities. During the 1950s and 1960s as many as 85% of pupils at
TRADING £4m
TRADING/FINANCE £4m
8%
9%
BURSARIES/ SCHOLARSHIPS £3m
DULWICH ESTATE £2m
8%
5%
INVESTMENTS £1m
DEPRECIATION £3m
8%
2%
SURPLUS (for capital expenditure) £3m
FUNDRAISING £2m
8%
5%
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