Benevolent Fund of Optometrists: Supporting Eyecare Professionals in Need
Providing assistance to optometrists and their dependents facing hardship, the Benevolent Fund of the College of Optometrists & Association of Optometrists offers support to maintain quality of life and confidence in challenging times. With a focus on helping individuals in the optical profession facing difficulties, the fund assists beneficiaries through various means, including financial aid, virtual support, and long-term assistance programs.
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Presentation Transcript
Annual General Meeting 15th March 2023 The Benevolent Fund of the College of Optometrists & Association of Optometrists Year ending 30th September 2022
Benevolent Fund Structure Board of 10 trustees, comprising 5 nominated by each sponsoring body. Managed and supported by a well experienced part time administrator Quarterly Meetings Hands on trustee involvement
Trustees report for year ending September 2022 Richard Broughton Vivian Bush (Chair) * Dan Ehrlich (Vice Chair) Keval Dattani (Treas.) Aisha Fazlanie * Admin/secretariat: * re-appointed by AOP for a further 3 year term. Tushar Majithia Francesca Marchetti Alison McClune Manbir Nagra ** Sue Wilford (to 12.2021) Lynne Brown ** re-appointed by College for 1 year
What the Trustees did: Attended to a daily flow of email communications Made virtual visits to applicants and some existing beneficiaries. Compiled interview summaries, reports assessments and reviews. Provided advice and worked with the administrator.
Purpose: To support optometrists and their dependents in situations of hardship Helping optometrists who are in need to remain in or return to the profession. Helping applicants to get back on their feet. Maintaining quality of life and developing self esteem and confidence in challenging situations. Funding specific items of necessity for applicants.
Longer term beneficiaries Beneficiaries are reviewed every 3/12 with the aim of enabling them to manage without our long term help. The exceptions are reviewed annually and include people with life-long illnesses or disability. The trustees are conscientious in taking an empathetic view of situations and assessing specific needs to maintain or improve quality of life.
The fund also supports: Widow and widowers Other dependents Pre-reg optometrists And exercises discretionary judgement in certain other cases, eg student hardship
Activity during year: 40 new enquiries for the year 16 full applications 10 new grants Many signposted to other sources of help 12 total number of beneficiaries being supported during the year had been helped before) . (including 1 long term, 1 who
New avenues of support: In common with other professional benevolent funds the scope of assistance has moved. Applicants previously have often been older, requiring financial support a stairlift, new boiler etc. and this still arises. Today s younger applicant often requires signposting and specialist services for matters such as dealing with debt, employment, mental health and addictions. The fund is liaising with the vets, pharmacists, dentists and medics to share knowledge and develop services.
Financial summary Going concern status secure / not threatened Grants paid during the year- 21.5K ( 11.5K in 2021) Subscription based donations from College members, AOP members and donations from individuals- 50.6K ( 50.1K in 2021) Legacies - 24.8K Investment income- 74.2K ( 32.4K in 2021) Investment Manager s fees- 2.4K ( 5.5K in 2021) Administrative & sundry costs- 15.4K ( 13K in 2021) Governance costs- Independent Examination - 3.8K ( 3.6K in 2021) Funds 2,031K as at 30th September 2022 ( 2,087K in 2021)
Report and Financial Statement Available at: www.opticalbenfund.com
Raising awareness of the fund: The fund suffers from lack of profile A significant proportion of the profession does not know it exists. Recommendations typically arrive via third parties Applicants frequently do not establish contact soon enough The sooner the fund can help the more likely a good outcome
The objective: ensure every member of the optometry family knows about the fund and what it does.
Profile development: Adopt a 21st century working title Benevolent Fund is too old fashioned. Website upgrades eg enable on-line applications. Publicise amongst all major employers eg Specsavers pleased to co-operate.
How can you help? Raise awareness of the Fund Importance of local Associations Identify new beneficiaries Website www.opticalbenfund.com Remember us when you re in contact with your LOC We are grateful for those who make additional donations Legacies important source of donated funds
Thanks to Trustees of the Fund who have worked tirelessly through a very busy patch Members of the profession for donations via the College and AOP Donations and legacies from individuals Our partner organisations Lynne Brown our Administrative Secretary
