COLLEGE FINANCES
The summarised information below is taken from the financial statements for the year ended 31 July 2017 (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?
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 86% of the annual bill. £3.7 million was spent on bursaries and scholarships, leaving a surplus of £2.7 million which helped fund the capital expenditure of £7.0 million during the year including £4.0 million on The Barry Buildings, 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
BURSARY APPEAL FUND
International Schools) and investment income from the College’s endowment account for 92% of the annual income. The Dulwich Estate gave an income distribution of £2.4 million and £1.4 million came from fundraising during the year. The figures below exclude a capital distribution of £3.6 million received from the Dulwich Estate as this is added to the College’s endowment and not spent.
Expenditure 2016/17 - £44 million
STAFF COSTS £25m
THE LABORATORY
57%
54%
OTHEROPERATING COSTS £6m TRADING/FINANCE £3m BURSARIES/ SCHOLARSHIPS £4m
13%
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 the College were recipients of such support. Local authority funding was
Income 2016/17 - £44 million
8%
FEES & EXTRAS £36m
80%
8%
TRADING £4m
10%
DEPRECIATION £3m
8%
DULWICH ESTATE £2m
5%
SURPLUS (for capital expenditure) £3m
6%
INVESTMENTS £1m
2%
Distribution of funds raised During the financial year 1 August 2016 to 31 July 2017, the College raised £1.4 million of philanthropic
FUNDRAISING £1m
3%
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