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The Charity Committee is one of the principle activities of the Paviors and once again we have been able to maintain our level of general giving, with city based organisations and educational projects receiving priority attention.
Using the previously agreed policy of allocating 50% of members' contributions to reserves with the balance plus income generated from investments being made available for distribution the Company has been able to distribute in the region of £36,000 in 2005. Among the organisations supported are St Christopher's Hospice; Construction Industry for Youth (CITY); RedR; Lightouse Club; Amberley Working Museum and the Company's Services Affiliates.
On the educational front we continue to provide a bursary at Birmingham and Nottingham Universities and a lectureship at Imperial College London. The Company's awards for the Institute of Asphalt also come out of our educational allocation.
The Trustees agreed to change the approach towards management of our charitable investments and we have appointed Rathbones to act on our behalf in this matter. We expect that under this new approach we will be able to obtain real capital growth as well as being able to maintain similar levels of income.
Once again the Trustees join me in thanking members of the Company for their continued support of our charitable work, and we would like to pay particular regard to the members of the Swimathon team for another excellent achievement through which we were able to make a donation of £2000 to the Lord Mayor's Appeal.
Christopher Laing
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