A couple of readers have written to us with concerns about the finances at the charity Age Concern Birmingham.
The last accounts were published in December 2012
- Wages & Salaries £1,264,312
- Social Security Costs £94,420
- Pension Costs £58,346
CHIEF EXECUTIVE COSTS
The Chief Executive received a salary between £100,001 – £110,000.
Plus a pension cost for that employee £19,977
Around 1/20th of the charity’s income goes to one employee!!! Is that good value? Is that fair?
LOAN TO CHIEF EXECUTIVE
A loan of £84,000 was made to the Chief Executive, repayable over 7 years – it does not say at what interest rate.
Why did the charity make the loan and at what interest rate?
TRUSTEES – HIGH TURNOVER & LOW NUMBER
Age Concern Birmingham seems to have a high turnover and an exceptionally low number of trustees. On 23rd October 2013 there are only 4 registered trustees according to the Charity Commission records.
See the accounts here.
Is this charity a cause for concern?
See our earlier posts on excessive charity pay.
Who do you trust? Question everything!!!