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LIGHT in DARKNESS Triennial Report 2009–2011 LIGHT in DARKNESS LIGHT in DARKNESS 2 0 0 9 -11 02 LIGHT IN DARKNESS Triennial Report 2009–2011 LIGHT IN DARKNESS LIGHT IN DARKNESS 2 0 0 9 -11 02 The Joseph Rowntree Charitable Trust report for the years 2009-2011 SoliCiTors: Bates, Wells and Braithwaite, 2-6 Cannon Street, London EC4M 6YH AudiToR Barron & Barron, Bathurst House, 86 Micklegate, York YO1 6LQ BAnkers CAF BANK Limited, 25 Kings Hill Avenue, Kings Hill, West Malling, Kent ME19 4JQ HSBC, 13 Parliament Street, York, YO1 8XS investmenT ManAgers R C Brown Investment Management, 1 The Square, Temple Quay, Bristol BS1 6DG independenT investmenT AdviSers Peter Jones (to December 2011) Nicola Parker (from January 2012) AdviSers on Ethical investmenT EIRIS Ethical Investment Research Service, 80-84 Bondway, London SW8 1SF Contracted SeRviCeS Rebecca Freeth, Assessor for South Africa Programme Peter Ingram (Small World Information Services), IT support ediToR Dick Downing deSign dg3 Design Ltd pRINT Beamreach Printing phoTography Principal photographer paula Solloway Additional photography Page 10, © Toni Cowan-Brown (top), Sara Prestianni (bottom) Page 11, © Marc O’Sullivan Pages 12-13, © PA/Lefteris Pitarakis Page 15, © Andreas Persbo Page 17, © Amnesty International Pages 30-31, © Donal McCann Photography Page 34, © Tommy Clancy Page 38, © iStockphoto Page 39, © Andrew Aitchison Pages 42–43 , © Jess Hurd/reportdigital.co.uk Page 46, Michael Larson, US Navy. (Released) Page 47, © Shutterstock © The Joseph Rowntree Charitable Trust 2012 ISBN 978-1-903196-16-8 Joseph Rowntree Charitable Trust Triennial Report 2009–11 03 CONTENTS About the Joseph Rowntree Charitable Trust 4 Chair’s Foreword 5 Trust Secretary’s Reflection 6-7 Investment 8-9 JRCT and Europe 10-11 GRANTS Peace 12-17 Power and Responsibility 18-23 Racial Justice 24-29 Ireland 30-35 Quaker Concerns 36-41 New Leadings 42-46 Finance 47-51 Trustees 52-54 Trust Staff 55 04 ABOUT THE JOSEPH ROWNTREE CHARITABLE TRUST The Joseph Rowntree Charitable grants Trust (JRCT) is an independent, The Trust’s work centres on grant- progressive organisation commit- making. Trustees are actively in- ted to radical change for a better volved in making grants, and often world. The Trust makes grants to meet with applicants as part of the individuals and projects seeking assessment process. Applications the creation of a peaceful world, are considered by programme com- political equality and social justice. mittees, but final approval is made It mainly funds work in the UK by the board at meetings held three and Ireland, along with some pan- times a year. European grants. Between January 2009 and De- Joseph Rowntree lived in York. cember 2011, JRCT received 1740 As well as being a businessman he applications, and made 319 grants, was an active Quaker, community totalling £16m. worker and member of the Liberal Party. In 1904 he established the This report describes work sup- Charitable Trust – along with sepa- ported through our programme rate organisations now known as areas, and lists all the groups or the Joseph Rowntree Foundation, individuals awarded grants between Joseph Rowntree Housing Trust January 2009 and December 2011. and Joseph Rowntree Reform Trust. The figures shown are the total amounts awarded during the three Although we publish a Trustees’ years, which may represent one or Report and Financial Statements more grants. every year (available on our website) we also produce this review of our Full information about the pro- work every three years. We hope gramme areas and how to apply this provides a more rounded and for a grant is available on the Trust’s interesting picture of the work of website, or from the office. JRCT than can be covered in an annual report. investments and income JRCT’s work is made possible through its endowment. The full accounts can be seen on the Trust’s website. In this report, we provide a brief overview of the financial hold- ings, income and expenditure. We also describe how the investment strategy is managed and its relation- ship with our grants programmes. Joseph Rowntree Charitable Trust Triennial Report 2009–11 055 CHAIR’S FOREWORD Joseph Rowntree, a successful some of the evils that Joseph Rown- Quaker businessman with person- tree knew, in growing social and al wealth beyond his own needs, economic inequalities. Do we have was both a man of his time and a his confidence that these root causes visionary. of evil can be tackled effectively? Of his time because, like many other JRCT chose to mark its centenary Victorians, he wanted to use this in 2004 by launching an extended wealth for public benefit, to seek to programme called Visionaries for a eradicate the inequalities he saw in Just and Peaceful World. The aim society. He also had the confidence was to provide salaries for five years to feel that the Trusts he set up to liberate exceptional people to might, by judicious disbursement pursue their visions, without the of funds, achieve such change for in world finance brought about by constraints of seeking grant fund- the better, in the foreseeable future. the banking crisis of 2007. We are ing to survive. This programme, fortunate in having been able to managed for us by Di Stubbs, came A visionary in that he did not want maintain our level of grant expendi- to an end in 2010 and the impacts the objects of any of the three Trusts ture because Trustees are empow- have been considerable. to be pursued after they had ceased ered to spend capital. Nevertheless, to be vital and pressing. In his it is our responsibility to ensure that Since our last report we have wel- founding memorandum he made the money we give is used in the comed as Trustees Michael Eccles, it possible for Trustees to consider most effective way. For example, Stan Lee, Hannah Torkington and entering into fields which he had we hope to multiply the impact of Catriona Worrall and said good- not indicated and which he could our grants by providing not only bye to Beverley Meeson and David not foresee. simple project or core funding, but Shutt. We are very appreciative of also by making small grants to lever the knowledge and wisdom they Throughout its history, JRCT has bigger ones, or entering into funding contributed over decades of ser- tried to implement this vision by partnerships. vice. The three years of work by seeking to fund both groups and the Trust celebrated here shows individuals passionate in their com- Our grants are not the only way that we have much to feel proud mitment to make a difference in the in which our money works in the of, and that there remain countless world. Our support is now increas- world. In collaboration with other inspirational individuals dedicated ingly necessary as the challenges ethical investors we seek to maxim- to making the world a better place. become more pervasive and com- ise our influence as shareholders. This work would not be possible plex. Our strengths, as a charitable One of the most exciting develop- without the exceptional energy and Trust in which all Trustees and ments in the last three years has commitment of our staff, and those most senior staff are Quakers, lie in a been a revision of our investment who work with us as consultants long-serving and committed trustee strategy, which has paved the way and advisers. We are grateful for body with shared values – a group for a programme of Mission Related the skill of Stephen Pittam and our that is willing to look for renewal Investment. staff team in harnessing the talents and change; to discern when to let of individuals, groups, staff and something go and when to look for Actions taken by Britain’s govern- Trustees in a vibrant and evolving new leadings. ment, the first peace time coalition partnership through which we seek since before the second world war, to fund beacons of hope. In the three years covered by this are also a response to the economic report, we have witnessed the con- environment, and it is sobering to Margaret Bryan sequences of unprecedented turmoil note that we are seeing the return of 06 TRUST SECRETARY’S REFLECTION We are living in difficult times. rather than part of the problem. We Many families, communities, and are beginning to find some exciting voluntary organisations are suf- investment opportunities aimed fering from the deepest and most at creating an infrastructure for a protracted economic crisis that most more sustainable economic system of us have ever experienced. and future. The crisis has affected us at JRCT. Previous triennial reports have fo- In previous economic downturns we cused almost exclusively on how have always increased our spend- we have spent our money. This ing year on year – thanks to our one gives a greater focus to our sophisticated sustainable income investment work. We are trying formula. This time our formula ap- to integrate the way we make our pears to have lost its applicability. money and the way we spend it. But Our ethically invested endowment our focus on alternative ways to flatlines below the expected level. invest our money may mean that we Up to now we have maintained our have fewer resources to fund social spending pattern. For the first time change work. So we have to think any of us can remember we have even harder about prioritising our decided to freeze our expenditure valuable resources. as we move forward into 2012. Certain characteristics make foun- We live with a paradox. As an en- dations different to other sources of dowed foundation we depend on the funds. One of the most important is returns made from our investments that we are independent.
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