Income fell by £1.3m year on year, while operating expenses increased by £1.5m with total reported income of £28.8m in 2021 against £30.1m in 2020. There was an overall income decrease of 4.4% year on year with contributions down 4.2% to £17.3m.

Part of the losses were attributable to a long-standing deferred tax issue. In 2020 the Foundation reviewed previously unrecognised tax losses and determined that it was probable that taxable profits will be available against which the tax losses can be utilised. As a result, a deferred tax asset of £569,000 was recognised, of which £452,000 has been realised in 2021. The Foundation is Delaware based and has a special agreement with HMRC to pay UK taxes on commercial activities such as publication sales.