Finance Score: 3

Governance Score: 9

Support Score: 6

Liabilities <10%: +3
Excess liquidity: -1
Multiple Deficits: -2
Fundraising costs low: +3

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

Grant maker support: +6

Overall GiG Score: 18

THE ROYAL INSTITUTION OF CORNWALL

The objectives of the RIC is to advance the education of the public through the study and knowledge of literature, natural sciences, archaeology, history, ethnology, geology and the fine and applied arts. The RIC provides access to it's comprehensive collection and holds regular exhibitions. The RIC provides education activities through it's schools and family workshops.

Analysis by Giving is Great

Positives:

This charity has a robust balance sheet
Fundraising costs are unusually low relative to funds raised
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 and dynamic in terms of composition

Financial issues to consider:

Liquidity appeared to be in excess of CC guidelines at the latest year end especially considering the historic stability of income
On several occasions in recent years income has been less than spending

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	£1,127	£715	£411	£20	£6,613	£1,025	17.2	20	43
31/03/22	£611	£733	£-122	£38	£6,416	£1,015	16.6	16	38
31/03/21	£514	£609	£-94	£12	£6,388	£1,125	22.2	12	35
31/03/20	£471	£716	£-245	n/a	n/a	n/a	n/a	n/a	35
31/03/19	£589	£822	£-233	£11	£6,284	£1,114	16.3	17	35
31/03/18	£772	£841	£-69	£45	£6,513	£921	13.1	19	0
31/03/17	£869	£824	£45	£40	£6,640	£720	10.5	19	0
31/03/16	£1,175	£741	£434	£53	£6,252	£810	13.1	19	0
31/03/15	£664	£751	£-87	£82	£5,776	£552	8.8	16	0
31/03/14	£577	£695	£-118	£60	£5,997	£817	14.1	15	0

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Financial Ratios

Fundraising Costs/Relevant Income: 5%
Fundraising Costs/Total Spending: 6.4%
Highest pay band: Less than £60,000
Liabilities/Assets: 1%
Liabilities/Income: 5%
Unrestricted Funds/Total Funds: 15%
Reserves/Spending: 17.2 months
Net Current Assets/Spending: 10 months
Quick Ratio: 9.6

Asset Split ?

Established: 11 years

www.royalcornwallmuseum.org.uk

enquiries@royalcornwallmuseum.org.uk

01872272205

Charity Commission for England and Wales

Tweets

Listed activities

Arts/Culture/Heritage/Science
Education/Training
Environment/Conservation/Heritage

GiG Classification

Museums, parks, historical sites

How it operates

Other charitable activities
Provides advocacy/advice/information
Provides buildings/facilities/open space
Provides services

Where it operates

Cornwall,

Who it helps

Children/Young People
Elderly/Old People
Other Defined Groups
People Of A Particular Ethnic Or Racial Origin
People With Disabilities
The General Public/Mankind

Who works here?

20 employees
43 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

National Lottery Heritage Fund	£408,600
Cornwall Community Foundation	£5,000
Wolfson Foundation	£0

Specific Donations

Amount	When Months	To be used for
Cornwall Community Foundation - The Monday Museum Club
£5,000	03/07/2023	Established in 1818 by the Royal Institution of Cornwall, the Royal Cornwall Museum serves as a vital custodian of Cornish culture and natural heritage. With a rich history spanning over 200 years, ....more Established in 1818 by the Royal Institution of Cornwall, the Royal Cornwall Museum serves as a vital custodian of Cornish culture and natural heritage. With a rich history spanning over 200 years, the museum engages communities through tailored activities and partnerships, fostering a forward-looking perspective.
Wolfson Foundation - Grant to Royal Cornwall Museum, Truro
£0	16/12/2022	Grant of £3,000 awarded through Scoping Grant programme. Paid via Pilgrim Trust/National Archives joint programme Archives Revealed (22871).
National Lottery Heritage Fund - Grant to Royal Institution of Cornwall
£250,000	09/12/2022	Building Resilience at Royal Cornwall Museum
National Lottery Heritage Fund - Grant to Royal Cornwall Museum
£158,600	05/08/2020	COVID19: Royal Cornwall Museum
DCMS - DCMS/Wolfson Museums and Galleries Improvement Fund
£50,000	01/04/2017	The DCMS/Wolfson Museums and Galleries Improvement Fund has four objectives: to increase the number of artefacts on display, to improve physical access to collections, to improve access for disabled ....more The DCMS/Wolfson Museums and Galleries Improvement Fund has four objectives: to increase the number of artefacts on display, to improve physical access to collections, to improve access for disabled visitors, and to improve the quality of interpretation. The scheme is open to four categories of museums and galleries.
National Lottery Heritage Fund - Grant to Royal Cornwall Museum
£550,000	20/03/2017	Endowing the next 200 years
National Lottery Heritage Fund - Grant to Royal Cornwall Museum
£97,300	11/05/2016	Royal Cornwall Museum and Library Strategic Business Plan and Spatial Study
National Lottery Heritage Fund - Grant to Royal Cornwall Museum
£63,400	14/01/2015	Sir Hussey Vivian, Cornish Hero at Waterloo

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Data sourced from Donors via 360 Giving

How is it governed?

Trustees (8)

Current Trustees appointed

Gender Split

Age Range of Trustees: 38-73

CLLR MICHAEL BUNNEY Appointed: 2022

PAUL HOLDEN Appointed: 2024, Occupation: Freelance Heritage Professional

ANDREW ALLEN Appointed: 2021, Occupation: Director

JULIE SEYLER Appointed: 2018, Occupation: Director

MARTIN BROOKS Appointed: 2018, Occupation: Company Director

MARY GODWIN Appointed: 2022, Occupation: Freelance Museum Consultant, Other trusteeship: TIVERTON MUSEUM OF MID DEVON LIFE,

RUTH GRIPPER Appointed: 2019, Occupation: Director

NERYS ANN WATTS Appointed: 2019, Occupation: External Affairs Director, Other trusteeship: THE CHARLES CAUSLEY TRUST,

Legal constitution

Charitable company registered in England & Wales on 08/02/2013, number: 1150749
Registered at Companies House on 16/01/2013, number: 08362598

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

10 returns made; all on time

Recent reorganisation events:

Asset transfer in from THE ROYAL INSTITUTION OF CORNWALL on 19/02/2021

Main office

Royal Cornwall Museum
25 River Street
Truro
TR1 2SJ

Objectives

TO ADVANCE THE EDUCATION OF THE PUBLIC BY ENCOURAGING AND PROMOTING THE STUDY AND KNOWLEDGE OF LITERATURE, NATURAL SCIENCES, ARCHAEOLOGY, HISTORY, ETHNOLOGY, GEOLOGY AND THE FINE AND APPLIED ARTS WITH SPECIAL REFERENCE TO CORNWALL.

Data Sources