How we raised the Charity's funds
The financial statements incorporate the results of the newly incorporated trading subsidiary Electrical Industries Trading Limited.
The company was set up as a fundraising subsidiary during the period to administer powerBall 2015.
Total income increased from £1.702m in 2014/15 to £1.776m in 2015/16. The Charity generates 78% of its funds from 3 main areas; a society lottery; the powerBall event and regional-committee-run industry events. The Charity relies on its investment dividends to supplement the operational costs of running the Charity.
How we spent the Charity's funds
Total costs increased from £1.764m in 2014/15 to £2.076m in 2015/16.
35% of this went out in direct financial assistance grants and support services to the industry (up from previous years). 42% of the costs are attributed to generating the regional events, powerBall and running the lottery (including all cash prizes). The cost increases from 2014/15 to 2015/16 were as a direct result of restructuring the Charity, enhance financial transparency and strengthen our financial processes and systems.