Finance Score: -5

Governance Score: 6

Support Score: 5

Positive trading contribution: +2;Multiple Deficits: -2
Fundraising costs high: -5

Good trustee age range: +3
Gender balanced board: +3

Grant maker support: +5

Overall GiG Score: 6

WALES MILLENNIUM CENTRE

WMC aims to create a special place which will provide a focal point for the unique culture, identity and talents of Wales though the creation of a world class showcase for musicals, opera, dance, exhibitions, entertainment and education in a millennium landmark, with long lasting benefits for the whole community.

Analysis by Giving is Great

Positives:

More than half of total income was derived from trading and fees in the latest year
A significant proportion of recent income was derived from major grant makers including the Government
The Board appears to be well diversified in terms of age and gender

Financial issues to consider:

Liquidity appeared to be in excess of CC guidelines at the latest year end but spending has been increasing rapidly
On several occasions in recent years income has been less than spending
Fundraising costs are extremely high relative to funds raised

Established: 27 years

wmc.org.uk

info@wmc.org.uk

02920636400

Charity Commission for England and Wales

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Financial Data ?

Income & Spending ?

Sources of Income ?

Y/E		Income £k	Spending £k	Surplus/ Deficit	Fundraising Cost £k	Total Funds £k	Unrestricted Funds £k	Mths Rsrvs	Staff	Volun- teers
31/03/23		£26,582	£27,364	£-783	£9,607	£45,005	£43,117	18.9	252	217
31/03/22		£15,641	£17,998	£-2,357	£7,510	£45,835	£43,615	29.1	207	224
31/03/21		£10,181	£9,148	£1,033	£1,521	£48,177	£44,668	58.6	158	207
31/03/20		£22,426	£23,887	£-1,461	£14,735	£47,145	£46,218	23.2	334	250
31/03/19		£22,822	£23,951	£-1,129	£14,336	£48,606	£47,799	23.9	329	185
31/03/18		£19,954	£22,757	£-2,803	£0	£49,735	£48,838	25.8	227	0
31/03/17		£24,667	£30,841	£-6,174	£82	£52,538	£51,935	20.2	260	0
31/03/16		£18,146	£24,125	£-5,979	£0	£58,712	£58,312	29	319	0
31/03/15		£28,090	£29,150	£-1,060	£9,332	£64,691	£64,017	26.4	220	0
31/03/14		£19,461	£22,395	£-2,934	£2,051	£65,751	£65,111	34.9	204	0
31/03/13		£22,054	£24,792	£-2,738	£2,042	£68,685	£68,111	33	227	0
31/03/12	*	£18,657	£21,052	£-2,395	£1,762	£71,423	£70,942	40.4	215	0
31/03/11		£19,835	£22,851	£-3,016	£1,774	£73,818	£73,394	38.5	211	0
31/03/10?		£23,648	£26,761	£-3,113	£1,407	£76,834	£76,415	34.3	196	0
31/12/08		£15,465	£18,142	£-2,677	£359	£79,947	£79,947	52.9	169	0
31/12/07		£27,062	£17,922	£9,140	£290	£82,624	£82,624	55.3	155	0
31/12/06		£13,582	£20,066	£-6,484	£0	£0	£0	n/a	0	0
31/12/05		£17,117	£19,556	£-2,439	£0	£0	£0	n/a	0	0
31/12/04		£18,961	£6,473	£12,488	£0	£0	£0	n/a	0	0

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Financial Ratios

Fundraising Costs/Relevant Income: 180.9%
Fundraising Costs/Total Spending: 35.1%
Senior Staff Costs/Total Spending: 2%
Highest pay band: £150,000-£200,000
Liabilities/Assets: 16%
Liabilities/Income: 32%
Unrestricted Funds/Total Funds: 96%
Reserves/Spending: 18.9 months
Net Current Assets/Spending: 1 months
Quick Ratio: 1.1

Asset Split ?

Listed activities

Arts/Culture/Heritage/Science
Education/Training

How it operates

Provides buildings/facilities/open space

Where it operates

Throughout England And Wales,

Who it helps

Other Charities Or Voluntary Bodies
The General Public/Mankind

Who works here?

252 employees
217 volunteers

Who's supporting them? ?

Donations from Grant Makers ?

We have details on the following significant donations. Multi-year donations are allocated to the years for which they are earmarked.

Major supporters in last 5 years

Garfield Weston Foundation	£973,000
Paul Hamlyn Foundation	£20,000
The Rayne Foundation	£10,000

Specific Donations

Amount	When Months	To be used for
Garfield Weston Foundation - WCF award - COVID19 response
£823,000	05/02/2021	Weston Culture Fund
Paul Hamlyn Foundation - COVID19 Emergency Funding
£20,000	10/07/2020 9	Support to aid the organisation in dealing with the challenges posed by COVID19.
Garfield Weston Foundation - Multi-Year Grant (3 Years) award
£150,000	16/10/2019	Core Costs
The Rayne Foundation - Grant to Wales Millennium Centre
£10,000	02/10/2019 12	Towards a choir project bringing together children in care, the families who care for them, and care-experienced people of all ages.
National Lottery Community Fund - RawFfest: Youth-Led Arts Festival
£8,500	18/03/2019 12	RawFfest: Youth-Led Arts Festival
Andrew Lloyd Webber Foundation - Grant to Wales Millennium Centre
£30,100	31/10/2018 24	Wales Shared Apprenticeships - 2018 - Covid-19 flexibility agreed
National Lottery Community Fund - Festival Gardens Hub
£10,000	12/12/2017 12	Festival Gardens Hub
Paul Hamlyn Foundation - Together Stronger
£200,000	11/12/2017 24	Together Stronger aims to give young people in the Rhonnda Cynon Taf area more opportunities to participate in and develop through high quality arts experiences, by consolidating and developing a ....more Together Stronger aims to give young people in the Rhonnda Cynon Taf area more opportunities to participate in and develop through high quality arts experiences, by consolidating and developing a partnership between the Wales Millennium Centre and charity Valleys Kids. Both organisations will share and learn from each other and facilitate a robust evaluation process, enabling them to extend the reach and impact.
Andrew Lloyd Webber Foundation - Grant to Wales Millennium Centre
£15,100	07/11/2017 12	Wales Shared Apprenticeship scheme - 2017
National Lottery Heritage Fund - Grant to Wales Millennium Centre
£46,500	28/11/2014	Tiger Bay Tales
Andrew Lloyd Webber Foundation - Grant to Wales Millennium Centre
£45,000	24/09/2012	Creative Apprenticeship Scheme

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Data sourced from Donors via 360 Giving

How is it governed?

Trustees (9)

Current Trustees appointed

Gender Split

Based on 8/9 persons

Age Range of Trustees: 47-70

AMIT KACHAWAHA Appointed: 2020, Occupation: Director Private Banking

DR CAROL BELL Appointed: 2014, Occupation: Company Director, Other trusteeships: SOCIETY OF ANTIQUARIES OF LONDON, THE INSTITUTE FOR ARCHAEO-METALLURGICAL STUDIES, MUSEUM OF LONDON ARCHAEOLOGY, WELSH SINGERS SHOWCASE, THE CYFARTHFA FOUNDATION,

GERAINT ANDERSON Appointed: 2017, Occupation: Non Exec Director

JOANNA REES Appointed: 2018, Occupation: Partner

JULIE-ANN HAINES Appointed: 2022, Occupation: Chief Executive Officer

NICKY GOULDER Appointed: 2018, Occupation: Ceo

PETER SWINBURN (Chair) Appointed: 2015, Occupation: Director

RHODRI WILLIAM TALFAN DAVIES Appointed: 2022

RITA SINGH Appointed: 2017, Occupation: .

Legal constitution

Charitable company registered in England & Wales on 30/01/1997, number: 1060458
Registered at Companies House on 09/07/1996, number: 03221924

Gift Aid

Registered with HMRC for Gift Aid

Policies in force

Bullying and harassment policy and procedures
Complaints handling
Complaints policy and procedures
Conflicting interests
Financial reserves policy and procedures
Internal charity financial controls policy and procedures
Internal risk management policy and procedures
Investing charity funds policy and procedures
Investment
Paying staff
Risk management
Safeguarding policy and procedures
Safeguarding vulnerable beneficiaries
Serious incident reporting policy and procedures
Social media policy and procedures
Trustee conflicts of interest policy and procedures
Trustee expenses policy and procedures
Volunteer management

Filing Record

19 returns made; AR12: 1 days late,

Main office

BUTE PLACE
CARDIFF BAY
CARDIFF
CF10 5AL

Objectives

1) TO FOSTER AND PROMOTE THE MAINTENANCE, IMPROVEMENT AND DEVELOPMENT OF ARTISITC TASTE AND THE KNOWLEDGE, UNDERSTANDING AND APPRECIATION OF THE ARTS INCLUDING BUT WITHOUT LIMITING THE GENERALITY OF THE FOREGOING BY THE PROVISION AND MAINTENANCE OF BUILDINGS AND FACILITIES FOR THE PREPARATION, REHEARSAL AND PERFORMANCE OF MUSIC, DRAMA AND OTHER PERFORMING ARTS AND THE SHOWING OF FILMS; 2) THE ADVANCEMENT OF EDUCATION FOR THE PUBLIC BENEFIT BY ESTABLISHING, ACQUIRING, MANAGING AND MAINTAINING BUILDINGS AND FACILITIES FOR THE COMPLETE ILLUSTRATION OF THE GEOLOGY, MINERALOGY, ZOOLOGY, BOTANY, ETHNOGRAPHY, ARCHAEOLOGY, ART, HISTORY AND SPECIAL INDUSTRIES OF WALES

Defined Area of Benefit:

NOT DEFINED

Data Sources