How we are funded
We fund our work through a variety of sources:
|Source||Amount in 2013||Description|
|Investments||£5,620k (33.2%)||The King's Fund was formed in 1897 by the then Prince of Wales to collect and distribute funds to support the hospitals of London. Those funds have been invested and maintained over the years and provide around a third of our income. This endowment gives us a greater degree of independence than if we were more reliant on public or private sector funding.|
|NHS local and regional||£5,083k (32.1%)||261 NHS organisations paid for support, attended events or used our venue. Over 80% of this income came from providing leadership and organisational development to individuals, teams and organisations. In addition, more than 1,100 individuals from the NHS attended our paid-for events, and many more attended our free events.|
|Private sector||£2,218k (14.0%)||This money came from 254 organisations in the private sector. Over half of the income is from organisations hiring our venues for conferences, receptions and social gatherings. Around a sixth comes from our corporate partners and supporters scheme (see also our ethical collaboration policy). Another sixth comes from GlaxoSmithKline to run the Impact awards for the voluntary sector. The rest includes payments from publishers who contract with our Information and Knowledge Service, from corporate delegates attending leadership programmes and from around 800 individuals attending our paid-for events.|
|Voluntary sector||£1,143k (7.2%)||This income comes principally from 44 organisations who commissioned the Fund to carry out research or to deliver leadership development work or who hired one of our venues. In addition, around 700 people attended our paid-for events, and many more attended our free events.|
|National bodies||£697k (4.4%)||We were commissioned or given grant funding to carry out research, analysis and development work by 15 national bodies such as the Department of Health, Care Quality Commission, Monitor, National Institute for Health Research and Health Education England. National organisations also hired space in our venue.|
|Local government||£101k (0.6%)||We received money from 32 local government bodies for a variety of activities. These included leadership development to support more integrated health and social care and venue hire.|
|Other||£1,330k (8.4%)||We also received money from individuals who paid for their own development programmes, funding for research or development from professional umbrella organisations and universities, and funding from venue hire for weddings, receptions and other social occasions.|
How we spend our money
The King's Fund was formed in 1897. Donations in the first year totalled £227,000 – worth more than £50 million today – and high levels of donations continued to be made for the next 50 years or so.
After the NHS was established in 1948, The King's Fund changed its focus to respond to the new needs of a predominantly tax-funded health service, and our major funding sources changed accordingly. In the early years, donations were distributed as grants; when this declined after 1948 the funds remaining (the 'endowment') were invested to provide both regular income and capital growth to support future initiatives. Find out more about our history and past work.
Our endowment is the guarantor of our independence and so we invest and draw down from it carefully. The amount we use each year to support our activities is designed to ensure that we remain sustainable in the long term.
Find out more about our financial and investment strategies in our latest trustees' annual report and accounts