Royal Institute for Deaf and Blind Children
Annual Report 2016

Financial Summary

2016 Financial Summary

In 2016, RIDBC achieved Total Revenue (from both Operating and Non-operating Activities) of $54.5M which was an increase of $13.1M compared to 2015. Revenue from Operating Activities of $52.1M was 26% higher than 2015, primarily due to bequests.

We are very grateful for the generosity of our donors and supporters with 44% of Operating Revenue in 2016 derived from donations (including bequests) and other fundraising activities.

Non-operating Revenue of $2.4M is the gain arising from the sale of the RIDBC Garfield Barwick School property at North Parramatta in 2016.

Total Expenditure on Operating Activities increased by $1.2M or 3% to $42.2M in 2016. This included $0.6M of Strategic Initiatives. Excluding Strategic Initiatives, the increase in Operating Activities was consistent with Consumer Price Index (CPI).

General administration and management costs were contained to 7.5% of operating expenditure in 2016. This represents a 0.2% improvement against 2015 which reflects RIDBC’s ongoing vigilance around headcount and operating costs associated with these functions.

2016 Income and Expenditure Summary

2016

2015

% Change

($'000)

($'000)

%

Total Operating Revenue

52,093

41,307

26.1%

Total Operating Expenditure

42,238

40,999

3.0%

Operating Surplus

9,855

308

Non-Operating items *

2,401

72

Surplus after Non-operating Items

12,256

380


*2016 includes a $2.4M gain on sale of property at North Parramatta, following the relocation of RIDBC Garfield Barwick School to North Rocks.

Lachlan pictured with his
mum, Janine, is developing
his braille reading and
writing skills at RIDBC
VisionEd Preschool

Caption: Lachlan pictured with his mum, Janine, is developing his braille reading and writing skills at RIDBC VisionEd Preschool

2016 Revenue

16.1% Charitable Fundraising
24.8% Government Funding
10.3% SCIC Cochlear Implant Program
5.3% Other Sales, Fees, Income
27.7% Bequests
15.8% Investment Income

2016 Expenditure

65.2% Student & Client Services
11.9% SCIC Cochlear Implant Program
0.3% Investment Management
7.5% Administration
1.3% Strategic Initiatives
11.2% Charitable Fundraising
2.6% Marketing & Communications

2016 Expenditure: Student and Client Services

10.5% Professional education and research in RIDBC Renwick Centre
2.5% RIDBC Jim Patrick Audiology Centre
14.1% RIDBC Community Support Services
32.9% Preschoolers
9.2% School children who are blind or have low vision
17% School children who are deaf or have hearing loss
13.8% School children who have sensory and additional disabilities