SVP has cash reserves of over €75m

Donations received by St Vincent de Paul in bequests surged in 2011 to €8.9m, and the charity has cash reserves of €75.5m in the bank, latest figures show.

The annual report for 2011 shows the charity received almost €17m in bequests in 2011 and 2010.

A spokesman said “legacies and bequests are very important to SVP, accounting for 11% of income over the last number of years”.

The spokesman said: “The €16.9m doesn’t contain any bequest over €500,000.”

The sharp increase in donations comes against the background of increased demand on SVP’s services.

Requests for assistance between 2009 and 2012 increased by over 100%, with SVP members now making approximately 8,000 home visits per week.

The 2011 figures show its revenues totalled €79.9m — an increase on the €73.2m generated in 2010.

Its spend in 2011 was €78.3m compared to €74.3m in 2010. The charity recorded a surplus of €1.4m in 2011 compared to a €1.2m loss in 2010.

SVP, however, remains cash rich, with €75.5m in the bank and net assets totalling €202m.

Commenting on the SVP’s 2012 fortunes, the spokesman said: “No precise figures are available yet for 2012 but our estimate is donations may be down slightly.

“While support from the public has largely held up, there appears to have been a decrease in corporate donations.”

The 2011 accounts indicate a significant upsurge in donations from the public, with revenues from donations increasing from €16.9m to €21.9m.

The spokesman said: “The 2011 donations figure of €21.9m is close to the 2009 donation figure of €20m. The €4.9m increase in donations in 2011 was primarily used to provide increased direct assistance to families.”

The charity experienced a drop in donations from government departments and local authorities of around 10% in 2011.

The spokesman said: “The state funding goes largely to help operate community housing, hostels, and resource centres. The amount for 2012 is not yet available but we expect, in line with general reduction in government funding, capital grants will reduce over 2011 levels.”

Figures show national director Kieran Murphy received a salary of between €115,000 and €125,000 in 2011.

A spokesman said: “It is made up of salary plus a pension element. In common with other staff, the national director availed of a defined contribution pension scheme to which the society contributes a maximum of 5% of salary.

“No bonus was paid as there is no bonus element attached to the national director’s remuneration. No company car is provided and only vouched out-of-pocket expenses were paid in accordance with the society’s strict expenses policy.”

Figures show one other employee earned between €105,000 and €115,000, with five earning between €75,000 and €85,000.

Staff costs totalled €17.5m in 2011 with employee numbers increasing from 587 to 612.

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