Great Ormond Street Hospital Charity had a record income of £131.2m last year, a £23.5m increase compared with the previous year, its latest accounts show.
Of the charity’s total income for the year to the end of March 2024, £117.6m (90 per cent) came from fundraising as it ramped up a £300m multi-year campaign for a new cancer centre.
Income from direct gifts rose to £55.2m in 2023/24 as part of the Children’s Cancer Centre initiative, a £10.5m increase compared with the previous year.
The charity said the Children’s Cancer Centre appeal, which was launched in 2023, would “deliver more breakthroughs in cancer care and give young people a future”.
Liz Tait, fundraising director at the Gosh Charity, spoke about the appeal and how the charity planned to reach its £300m target during a Third Sector podcast episode last year.
Total commitments made by Gosh Charity towards the Children’s Cancer Centre were £34.5m by year-end, of which £16.8m was during the year and is included in redevelopment and environment expenditure.
“In December 2024, the board committed £295.5m to Great Ormond Street Hospital towards the Children’s Cancer Centre project, on top of the £34.5m already committed by end financial year 2023/24, bringing the total charity commitment to funding this project to £330m,” the charity said.
Partnerships, campaigns and events income increased by £3.9m and the Gosh Charity Lottery raised £4m in 2023/24, compared with £1.8m previously.
Expenditure at the charity rose to £93.2m in 2023/24, compared with £69.1m in 2022/23, and its spending on charitable activities increased to £47m from £28.5m.
Redevelopment and environment grant awards were £16.8m higher than in 2022/23, mainly due to commitments to the Children’s Cancer Centre project.
“Another notable area was an increased £13.9m in commitments made towards research, as part of the charity’s research strategy,” the charity said.