Herts Air Ambulance '˜financially secure' as income figures released
The county's air ambulance is '˜financially secure' for the foreseeable future - after it released its figures for the 2015/16 financial year.
The Essex and Herts Air Ambulance Trust made £13.2m of income in the year, of which £7.2m was spent on its annual running costs.
The remaining £6m was added to the Trust’s reserves, which now stands at £16m and includes a £5.5m investment that has been ring-fenced for a new aircraft.
Of income raised during the year, £7.8m came from the charity’s Flight for Life lottery members, while nearly £4m was raised from individual and business donations, as well as fundraising and retail initiatives.
Approximately £1.5m also came from LIBOR funding, which comes from fines levied upon the banks for interest rate rigging. The fines are donated towards charitable causes.
For every £1 received, the charity retained 46p for future delivery, spent 30p on its charitable service and 24p on the cost of raising funds.
Jonathan Ager, EHAAT finance director, said: “Support for the Essex & Herts Air Ambulance Trust is something that the charity takes very seriously.
“Whether you donate through fundraising, or play our Flight for Life Lottery, every penny counts towards saving lives.
“Our annual income is overseen by the board of trustees, who set the spending and investment direction and then delegate the funds to the necessary arms of the charity.
“Although these funds may not go directly towards the current upkeep of the aircraft or medical equipment, every donation goes towards either the stability of our charity now or enables our exciting future.
“We can only provide the best care with the continued help and commitment of the people and businesses of Essex and Hertfordshire, and are incredibly proud to receive the amount of support that we do every single day.”