Edge Accounts – Interesting

Following the discussion here on the Edge education foundation and their enthusiasm for purely vocational education, I decided to take a closer look.

The edge.co.uk domain name is owned by the Edge Foundation, a charitable foundation, charity number 286621. A quick poke around on the Charity Commission website yields some fascinating information.

In the financial year ending 31 December 2007, they had an oncome of £1,777,000 (all from investments) and outgoings of £14,436,000 – of which all but £70,000 went on charitable activities. They have 11 employees who obviously do not get paid much.

For 2006 income was £1,780,000 outgoings £8,953,000
For 2005 income was £1,808,000 outgoings £3,993,000
For 2004 income was £808,000 outgoings £1,214,000
For 2003 income was £36,062,000 outgoings £39,483,000

I make that a net loss of £25,444,000. They currently have long-term assets of £69.4 million and other assets of £1.59 million. I have not had time to look through their accounts in detail to see how they can sustain these losses.

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