As an incorporated charity, have you ever wondered how the Union spends its money?
Did you know that Queen Mary Students’ Union is an incorporated charity run by students for students?
That means that all of the surpluses and money the Union receives goes straight back into funding activities, events and student support.
For example, the profit from the coffee you buy in our cafés could go towards coaching for our sports teams, organising volunteering opportunities or delivering academic representation.
Here is a breakdown of the Union’s income, grants, funding, and costs:
Where the money comes from:
67% total income from our services – all the profits from the services we run (our gym, bars, restaurants, shops and cafés) goes back into funding Union
31% the university block grant – every year QMUL gives money to the Union to help provide services and activities for students, such as substantial funding for student societies
1% Sport England funding – Sport England, supported by the National Lottery, funds the Get Active programme and provides opportunities for students to get involved in sport
1% other one off funding – we apply from funds from several sources to help us deliver activities, such as the ‘Engagement, Retention & Success Fund’ that helps us run the Buddy Scheme, along with the ‘Centre for Public Engagement Fund’ and the ‘Alumni Annual Fund’.
Where the money goes:
36% services – running our venues (facilities, consumables, equipment, student staff wages etc.)
30% student activities – running volunteering, clubs, societies, student media, RAG and receptions
17 % general administration – providing facilities, IT, cleaning, finance, insurance, legal advice, governance, VAT and marketing and communications for the Union
8% student representation – running welfare, education, representation, advocacy, elections and governance
7% events and community – putting on events and activities, from Mandarin lessons to our graduation ball
2% loan to the college – in 2005 the Union was in financial difficulty and had to take a loan, which is being repaid
If you have any ideas for where else the money can go, please email su-studentsunion@qmul.ac.uk.