Annual Report for the year to 5th April 2017
The Timios Trust was established in 1999 in memory of Tim Skipp and provides travel bursaries to young people undertaking Christian Service projects. This Report is on the Trust’s 18th year of operation and so far 397 bursaries totalling £132,766 have been awarded, whilst the Trust has funds in hand in excess of £133,000.
Through a combination of the generous support of regular donors, fundraising activities and one-off gifts, the Trust has been able to support all the applications within its published criteria which it has received to date. This year applications for bursaries were at lower levels than recent years and 15 new bursaries were awarded, totalling £4,380. These bursaries have helped applicants travel on Christian Service projects to destinations across the world and the Trust has now assisted volunteers to travel to seventy eight different countries.
After rising consistently for the first decade of its existence, the funds of the Trust peaked in 2010 at £142,000, since when lower interest rates and the absence of major fundraising activities have combined to move the Trust into a phase where its funds have started to decline. However this year saw a reversal of this trend following a combination of increased income, including a bequest from the estate of Rev Gordon Skipp, fewer bursary applications than in recent years, the use of a lower scale of bursary awards and significant investment gains. Including investment gains, the current funds in hand are of the order of 100% of total bursaries awarded to date, and it is anticipated that the Trust has many years of valuable active life ahead.
In July 2016 the Trust received confirmation of the retirement at that time of Jeremy Taylor, one of Tim’s uncles, who was one of its founding Trustees and had been Treasurer since its inception. It was Jeremy who suggested that the Trust in Tim’s memory should be called “Timios” which is Greek for “highly honoured”. We sincerely thank Jeremy for his long and valuable service to the Trust.
One of our existing Trustees, Joanna Burt, has become our Acting Treasurer and the Trust has co-opted John Levick, a long term friend of the Skipp family and supporter of the Trust, with a view to him becoming both a Trustee and our Treasurer in due course. John has a wealth of financial experience and is currently the Treasurer of the Baptist Union.
The Trustees’ thanks again go to Peter McMahon, for conducting the Independent Examination of our accounts, and to everyone who has supported our work this year, so that Christian young people can explore both their gifts of service and longer term vocations in the wider world.
The Timios Trust is a Registered Charity (No. 1077516) and is pleased to receive donations and bursary enquiries.
Our website at www.timiostrust.com contains more information about the Trust, or please contact Richard Budden, Trustee & Secretary, The Timios Trust, 62A Swindon Road, Horsham, West Sussex RH12 2HQ
Through a combination of the generous support of regular donors, fundraising activities and one-off gifts, the Trust has been able to support all the applications within its published criteria which it has received to date. This year applications for bursaries were at lower levels than recent years and 15 new bursaries were awarded, totalling £4,380. These bursaries have helped applicants travel on Christian Service projects to destinations across the world and the Trust has now assisted volunteers to travel to seventy eight different countries.
After rising consistently for the first decade of its existence, the funds of the Trust peaked in 2010 at £142,000, since when lower interest rates and the absence of major fundraising activities have combined to move the Trust into a phase where its funds have started to decline. However this year saw a reversal of this trend following a combination of increased income, including a bequest from the estate of Rev Gordon Skipp, fewer bursary applications than in recent years, the use of a lower scale of bursary awards and significant investment gains. Including investment gains, the current funds in hand are of the order of 100% of total bursaries awarded to date, and it is anticipated that the Trust has many years of valuable active life ahead.
In July 2016 the Trust received confirmation of the retirement at that time of Jeremy Taylor, one of Tim’s uncles, who was one of its founding Trustees and had been Treasurer since its inception. It was Jeremy who suggested that the Trust in Tim’s memory should be called “Timios” which is Greek for “highly honoured”. We sincerely thank Jeremy for his long and valuable service to the Trust.
One of our existing Trustees, Joanna Burt, has become our Acting Treasurer and the Trust has co-opted John Levick, a long term friend of the Skipp family and supporter of the Trust, with a view to him becoming both a Trustee and our Treasurer in due course. John has a wealth of financial experience and is currently the Treasurer of the Baptist Union.
The Trustees’ thanks again go to Peter McMahon, for conducting the Independent Examination of our accounts, and to everyone who has supported our work this year, so that Christian young people can explore both their gifts of service and longer term vocations in the wider world.
The Timios Trust is a Registered Charity (No. 1077516) and is pleased to receive donations and bursary enquiries.
Our website at www.timiostrust.com contains more information about the Trust, or please contact Richard Budden, Trustee & Secretary, The Timios Trust, 62A Swindon Road, Horsham, West Sussex RH12 2HQ
