Charity overview

Activities - how the charity spends its money

Wellcome exists to improve health by helping great ideas to thrive. We support researchers, we take on big health challenges, we campaign for better science, and we help everyone get involved with science and health research. We are a politically and financially independent foundation.

Income and expenditure

Data for financial year ending 30 September 2023

Total income:
£541,832,808

	Donations and legacies	£0
	Charitable activities	£30.95m
	Other trading activities	£0
	Investments	£475.32m
	Other	£35.56m

Total expenditure:
£1,660,834,674

	Raising funds	£94.10m
	Charitable activities	£1.49bn
	Other	£76.45m

-£178,236,005 investments gains (losses)

Total income includes £20,666,557 from 1 government contract(s) and £1,065,665 from 24 government grant(s)

Charitable expenditure

Some charities generate all, or a substantial part, of their income from investments which may have been donated to the charity as endowment or set aside by the charity from its own resources in the past. Such investments usually take the form of stocks and shares but may include other assets, such as property, that are capable of generating income and/or capital growth.

In managing their spending and investments charities need to strike a balance between the needs of future and current beneficiaries. They also need to take account of spending commitments that may stretch over a number of future years. To do this, charities will normally adopt an investment strategy designed to generate both income and capital growth. To maximise returns trustees may commit to investment strategies for several years.

Investments can experience large swings in value so trustees may, in a particular year, decide to realise and spend part of their charity’s capital or to invest part of its income.

By clicking the investment gains checkbox the charitable spending bar is adjusted to take account of capital growth as well as income. This shows the balance the charity is striking, between spending on current beneficiaries and retaining resources for future beneficiaries.

	Raising funds and other expenditure	£170.55m
	Charitable expenditure	£1.49bn

People

2314 Employee(s)

1 Trustee(s)

Employees with total benefits over £60,000

	Number of employees
£60k to £70k	227
£70k to £80k	141
£80k to £90k	86
£90k to £100k	60
£100k to £110k	30
£110k to £120k	21
£120k to £130k	12
£130k to £140k	15
£140k to £150k	5
£150k to £200k	33
£200k to £250k	11
£250k to £300k	9
£300k to £350k	2
£350k to £400k	3
£400k to £450k	1
£450k to £500k	1
Over �500k	18

Fundraising

No information available

Trading

This charity has one or more trading subsidiaries.

Trustee payments

One or more trustees receive payments or benefits from the charity for being a trustee.

What, who, how, where

Main way of carrying out purposes is grant making

What the charity does:

Education/training
The Advancement Of Health Or Saving Of Lives
Arts/culture/heritage/science

Who the charity helps:

The General Public/mankind

How the charity helps:

Makes Grants To Individuals
Makes Grants To Organisations
Provides Other Finance
Provides Buildings/facilities/open Space
Sponsors Or Undertakes Research
Other Charitable Activities

Where the charity operates:

Throughout England And Wales
Australia
Bangladesh
Botswana
Brazil
Burkina Faso
Cameroon
Canada
China
Colombia
Costa Rica
Cyprus
Denmark
France
Germany
Ghana
India
Indonesia
Ireland
Italy
Japan
Kenya

Madagascar
Malaysia
Nepal
Netherlands
New Zealand
Nigeria
Norway
Peru
Saudi Arabia
Singapore
South Africa
South Korea
Spain
Sri Lanka
Switzerland
Tanzania
Uganda
United States
Zambia
Zimbabwe

Governance

Registration history:

04 October 1962: Standard registration

Organisation type:

Other

Other names:

WILL CHARITIES OF SIR HENRY S WELLCOME (THE MUSEUM AND LIBRARY CHARITY) (Previous name)

Gift aid:

Recognised by HMRC for gift aid

Other regulators:

No information available

Policies:

Bullying and harassment policy and procedures
Complaints handling
Complaints policy and procedures
Conflicting interests
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

Land and property:

This charity owns and/or leases land or property

Trustees

Trustees are the people responsible for controlling the work, management and administration of the charity on behalf of its beneficiaries. Generally trustees are treasurer, chair, board member etc. The trustees are responsible for keeping this list up to date and can do this by updating their details as they happen through the online service

1 Trustee(s)

THE WELLCOME TRUST LIMITED

Trustee

24 April 1992

None on record

THE WELLCOME TRUST LIMITED

Financial history

Financial period end date

Income / Expenditure	30/09/2019	30/09/2020	30/09/2021	30/09/2022	30/09/2023
Total gross income	£481.01m	£463.59m	£410.26m	£502.29m	£541.83m
Total expenditure	£1.33bn	£1.18bn	£1.37bn	£1.49bn	£1.66bn
Income from government contracts	£336.71k	£398.10k	£25.07m	£46.98m	£20.67m
Income from government grants	£4.00m	£4.02m	£4.88m	£1.24m	£1.07m
Income - Donations and legacies	£20.95m	£18.52m	£0	£0	£0
Income - Other trading activities	£0	£0	£0	£0	£0
Income - Charitable activities	£0	£0	£24.11m	£28.91m	£30.95m
Income - Endowments	£0	£0	£0	£0	£0
Income - Investment	£408.26m	£323.30m	£286.38m	£365.88m	£475.32m
Income - Other	£51.80m	£121.77m	£99.77m	£107.51m	£35.56m
Income - Legacies	£0	£0	£0	£0	£0
Expenditure - Charitable activities	£1.18bn	£1.02bn	£1.18bn	£1.34bn	£1.49bn
Expenditure - Raising funds	£69.51m	£86.72m	£109.81m	£74.80m	£94.10m
Expenditure - Governance	£2.69m	£3.35m	£3.58m	£4.78m	£5.98m
Expenditure - Grants institution	£811.52m	£759.54m	£847.87m	£967.28m	£1.21bn
Expenditure - Investment management	£69.51m	£86.72m	£109.81m	£74.80m	£94.07m
Expenditure - Other	£78.71m	£79.01m	£76.49m	£76.30m	£76.45m

Assets and liabilities

Definitions for assets and liabilities

Own use assets

These are assets, other than investments, which are held for more than 12 months and used to run and administer the charity such as buildings, offices, exhibits and fixtures and fittings.

Long term Investments

Investments are assets held by the charity with the sole aim of generating income which will be used for their charitable purposes such as deposit accounts, shares, rental property and unit trusts.
Investment assets are re-valued every year and included in the balance sheet at their current market value.
Long term investments are held for more than 12 months.

Other assets

These are assets held generally for less than 12 months such as cash and bank balances, debtors, investments to be sold within the coming year and trading stock.

Defined benefit pension scheme asset or liability

This is a surplus or deficit in any defined benefit pension scheme operated and represents a potential long-term asset or liability.

Total liabilities

These are all the amounts owed by the charity at the balance sheet date to third parties such as bills due but not yet paid, bank overdrafts and loans and mortgages.

Asset / Liability	30/09/2019	30/09/2020	30/09/2021	30/09/2022	30/09/2023
Own use assets	£424.24m	£411.74m	£412.52m	£402.26m	£404.90m
Long-term investments	£30.21bn	£32.71bn	£41.75bn	£40.34bn	£39.31bn
Other assets	£69.83m	£65.58m	£109.30m	£111.39m	£191.03m
Defined benefit pension scheme asset or liability	-£371.59m	-£366.59m	-£225.00m	£81.30m	£219.31m
Total liabilities	£5.12bn	£5.00bn	£5.78bn	£6.34bn	£6.67bn

Accounts and annual returns

This table shows the charity's record of submitting annual returns, accounts and trustees' annual report (TAR) for the last five financial periods.

Title	Reporting year	Date received	Received	Download
Annual return	30 September 2023	30 July 2024	On Time
Accounts and TAR	30 September 2023	30 July 2024	On Time	Download Open in new window
Annual return	30 September 2022	26 July 2023	On Time
Accounts and TAR	30 September 2022	26 July 2023	On Time	Download Open in new window
Annual return	30 September 2021	21 July 2022	On Time
Accounts and TAR	30 September 2021	21 July 2022	On Time	Download Open in new window
Annual return	30 September 2020	05 March 2021	On Time
Accounts and TAR	30 September 2020	05 March 2021	On Time	Download Open in new window
Annual return	30 September 2019	12 March 2020	On Time
Accounts and TAR	30 September 2019	12 March 2020	On Time	Download Open in new window

Submit annual return

Governing document

Details of the type of governing document the charity has and when it was established.
It is not the full text of the charity's governing document.

SCHEME DATED 20/02/2001 AS AMENDED ON 09/01/2009 AS AMENDED ON 22/07/2010 AS AMENDED BY SCHEME DATED 04/10/2011

Charitable objects

(1) TO PROTECT, PRESERVE AND ADVANCE ALL OR ANY ASPECTS OF THE HEALTH AND WELFARE OF HUMANKIND AND TO ADVANCE AND PROMOTE KNOWLEDGE AND EDUCATION BY ENGAGING IN, ENCOURAGING AND SUPPORTING: (A) RESEARCH INTO ANY OF THE BIOSCIENCES; AND (B) THE DISCOVERY, INVENTION, IMPROVEMENT, DEVELOPMENT AND APPLICATION OF TREATMENTS, CURES, DIAGNOSTICS AND OTHER MEDICINAL AGENTS, METHODS AND PROCESSES THAT MAY IN ANY WAY RELIEVE ILLNESS, DISEASE, DISABILITY OR DISORDERS OF WHATEVER NATURE IN HUMAN BEINGS OR ANIMAL OR PLANT LIFE; AND (2) TO ADVANCE AND PROMOTE KNOWLEDGE AND EDUCATION BY ENGAGING IN, ENCOURAGING AND SUPPORTING: (A) RESEARCH INTO THE HISTORY OF ANY OF THE BIOSCIENCES; AND (B) THE STUDY AND UNDERSTANDING OF ANY OF THE BIOSCIENCES OR THE HISTORY OF ANY OF THE BIOSCIENCES.

Area of benefit

The area the charity can operate in, as set out in its governing document.

NOT DEFINED

Contact information

Address:: WELLCOME TRUST
GIBBS BUILDING
215 EUSTON ROAD
LONDON
NW1 2BE
Phone:: 02076118888
Email:: company.secretary@wellcome.org
Website:: www.wellcome.org Open in new window

WELLCOME TRUST