Finance Score: -2

Governance Score: 5

Support Score: 4

Poor Liquidity: -1
Good Reserves: +1Multiple Deficits: -2

12+ Trustees: -1
Dynamic board: +3
Gender balanced board: +3

Overall weighted support: +4

Overall GiG Score: 7

THE INSTITUTION OF ENGINEERING AND TECHNOLOGY

Education, policy & awareness activities engage the public in the role of science, engineering & technology in enhancing peoples' lives. IET gathers & distributes knowledge content via a variety of channels to a global audience, drawing on the unique strengths of its membership. Membership & professional development focuses on career long professional development & registration of individuals.

Analysis by Giving is Great

Positives:

The charity has received backing from several prominent grant makers recently
The Board appears to be well diversified in terms of gender and dynamic in terms of composition

Regulatory & Governance issues to consider:

Why are there 16 trustees whereas the Charities Commission recommends a maximum of 12?
Over half the Board have joined recently

Financial issues to consider:

Liquidity appears to have been slender at the latest year end but unrestricted reserves are available
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 £k	Fundraising Cost £k	Total Funds £k	Unrestricted Funds £k	Mths Rsrvs	Staff	Volun- teers
31/12/23		£66,414	£72,318	£-5,904	£5,405	£183,946	£167,885	27.9	608	4,913
31/12/22		£67,565	£68,826	£-1,261	£4,006	£176,826	£161,944	28.2	634	4,700
31/12/21		£58,545	£64,532	£-5,987	£1,643	£196,155	£178,255	33.1	636	4,813
31/12/20		£52,533	£61,867	£-9,334	£1,617	£186,298	£170,044	33	670	4,508
31/12/19		£65,634	£67,264	£-1,630	£5,501	£184,982	£169,490	30.2	607	4,606
31/12/18		£68,712	£65,377	£3,335	£4,790	£168,003	£154,127	28.3	597	0
31/12/17		£61,780	£61,460	£320	£4,562	£173,886	£158,859	31	578	0
31/12/16		£58,453	£57,174	£1,279	£3,461	£156,008	£142,926	30	584	0
31/12/15		£54,299	£52,625	£1,674	£2,819	£153,919	£142,429	32.5	549	0
31/12/14		£51,689	£51,160	£529	£6,748	£145,931	£132,948	31.2	540	0
31/12/13		£57,596	£58,674	£-1,078	£9,654	£137,297	£125,269	25.6	513	0
31/12/12	*	£56,820	£53,107	£3,713	£11,922	£117,240	£104,733	23.7	471	0
31/12/11		£55,279	£50,913	£4,366	£10,233	£111,062	£98,884	23.3	450	0
31/12/10		£57,218	£49,702	£7,516	£9,319	£112,573	£100,168	24.2	451	0
31/12/09		£55,134	£53,466	£1,668	£10,291	£92,076	£85,428	19.2	470	0
31/12/08		£59,936	£53,320	£6,616	£13,363	£83,019	£77,586	17.5	480	0
31/12/07	*	£47,756	£51,846	£-4,090	£1,278	£113,876	£107,157	24.8	434	0
31/12/06		£44,044	£46,924	£-2,880	n/a	n/a	n/a	n/a	n/a	n/a
31/12/05		£43,345	£40,966	£2,379	n/a	n/a	n/a	n/a	n/a	n/a
31/12/04		£39,023	£37,753	£1,270	n/a	n/a	n/a	n/a	n/a	n/a

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Financial Ratios

Fundraising Costs/Relevant Income: 14.4%
Fundraising Costs/Total Spending: 8.9%
Senior Staff Costs/Total Spending: 12%
Highest pay band: £250,000-£300,000
Liabilities/Assets: 13%
Liabilities/Income: 40%
Unrestricted Funds/Total Funds: 91%
Reserves/Spending: 27.9 months
Net Current Assets/Spending: -0 months
Quick Ratio: 0.4

Asset Split ?

Balance Sheet History

Established: 61 years

www.theiet.org

governance@theiet.org

02073445415

Charity Commission for England and Wales

Listed activities

Education/Training

GiG Classification

Professional associations

How it operates

Makes grants to individuals
Makes grants to organisations
Other charitable activities
Provides advocacy/advice/information
Provides services
Sponsors or undertakes research

Where it operates

Australia, Bahrain, Belgium, Brunei, Canada, China, Cyprus, Czech Republic, Egypt, France, Germany, Gibraltar, Greece, Guernsey, Hong Kong, India, Ireland, Israel, Italy, Japan, Jersey, Jordan, Kuwait, Luxembourg, Malaysia, Malta, Mauritius, Netherlands, New Zealand, Nigeria, Norway, Pakistan, Saudi Arabia, Scotland, Singapore, South Africa, Sri Lanka, Sweden, Switzerland, Taiwan, Trinidad And Tobago, United Arab Emirates, United States,

Who it helps

Children/Young People
The General Public/Mankind

Who supports them? ?

Donations from Grant Makers ?

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

Specific Donations

Amount	When Months	To be used for
Wates Family Enterprise Trust - Institution of Engineering and Technology
£10,000	06/11/2023	Funding will be used across our Education programmes - a portfolio of activity that brings STEM to life for children and schools in areas of disadvantage. Our programmes include: FIRST® LEGO® League, Faraday® Challenge Days and teaching ....more Funding will be used across our Education programmes - a portfolio of activity that brings STEM to life for children and schools in areas of disadvantage. Our programmes include: FIRST® LEGO® League, Faraday® Challenge Days and teaching resources. Targeting children in areas of disadvantage and underrepresented groups across the UK: to break down perceived barriers to engineering; to improve children's STEM and meta-skills; to encourage children to consider a career in engineering; to give access to high quality, fun learning opportunities.
DCMS - UK Cyber Security Council
£78,711	01/04/2021	For the IET, in partnership with an alliance of cyber security organisations, to set up the new UK Cyber Security Council which we expect to act as the single, coherent voice for the cyber security profession going forward.
DCMS - UK Cyber Security Council
£1,800,000	01/04/2020	For the IET, in partnership with an alliance of cyber security organisations, to set up the new UK Cyber Security Council which we expect to act as the single, coherent voice for the cyber security profession going forward.
Wates Family Enterprise Trust - Institution of Engineering and Technology
£30,000	21/03/2019	To enable teams of children from areas of social disadvantage in the UK take part in IET FIRST® LEGO® League.

Data sourced from Donors via 360 Giving

How is it governed?

Trustees (16)

Current Trustees appointed

Gender Split

Based on 13/16 persons

ANNI FENG CENG MIET Appointed: 2022

BRIGADIER ANDREW JAMES ROGERS CENG FIET Appointed: 2023

DAVID WARREN ARTHUR EAST CBE FIET (Chair) Appointed: 2023

DAWN ELIZABETH OHLSON CENG FIET Appointed: 2023

DR CAROL MARSH CENG FIET Appointed: 2022

DR GOPICHAND KATRAGADDA CENG FIET Appointed: 2019

DR RONJON NAG CENG FIET Appointed: 2022

DR SIMON DAVID HART CENG FIET Appointed: 2023

IAN MACGILLIVRAY CENG MIET Appointed: 2024

KATY DEACON CENG MIET Appointed: 2021

MAMTA RANI SINGHAL MBE FIET Appointed: 2023

MARK GOUDIE CENG FIET Appointed: 2024

PROFESSOR PAUL MICHAEL NEEDHAM CENG FIET Appointed: 2024

PROFESSOR TIMOTHY RICHARD DAFFORN FIET Appointed: 2022

SAMANTHA ELIZABETH HUBBARD IENG FIET Appointed: 2022

YEWANDE MODUPE AKINOLA CENG FIET Appointed: 2023

Legal constitution

Charity registered in England & Wales on 06/02/1964, number: 211014
Registered at Companies House on 01/01/1970, number: RC000263

Gift Aid

Registered with HMRC for Gift Aid

Policies in force

Bullying and harassment policy and procedures
Campaigns and political activity policy and procedures
Complaints handling
Complaints policy and procedures
Conflicting interests
Engaging external speakers at charity events policy and procedures
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

20 returns made; AR12: 115 days late, AR07: 250 days late,

Main office

THE INSTITUTION OF ENGINEERING AND
TECHNOLOGY
2 SAVOY PLACE
LONDON
WC2R 0BL

Objectives

TO PROMOTE THE GENERAL ADVANCEMENT OF SCIENCE, ENGINEERING & TECHNOLOGY & TO FACILITATE THE EXCHANGE OF INFORMATION AND IDEAS ON THESE SUBJECTS AMONGST THE MEMBERS OF THE IET AND OTHERWISE

Defined Area of Benefit:

NATIONAL.

Data Sources

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