The Society
The Society was founded in 1865 for the promotion and extension of mathematical knowledge and was granted a Royal Charter in 1965. The Society is registered as a charity with the United Kingdom Charity Commissioners. It is the major British learned society for Mathematics, with a nationwide membership and several hundred overseas members.
The affairs of the Society are managed by a Council and Officers. Officers are elected annually, and other Council members biennially, by the Society membership.
The Administration of the Society is headed by the Executive Secretary. There is a total of 18 staff, most based at the Society’s headquarters at De Morgan House, 57–58 Russell Square, London, WC1B 4HS.
The governance of the Society
The Society is a membership society with some 2,400 members across the UK and overseas. Members are able to join various overseas Mathematical Societies on advantageous terms under Reciprocity Agreements. More
Its major activities are:
The Society’s finances
Income
The Society’s income in 2008/09 came from:
Expenditure (including support costs) broken down by objective was:
Support and overhead costs include the staff costs, other employment costs and costs of running and maintaining buildings attributable to those activities, as is required under SORP2005, the principles by which the Society as a charity presents its accounts.
Assets, reserves and investments
The Society's assets at 31 July 2009 were £11.54M, invested to provide income for activities and as working capital for the Society to operate effectively and efficiently in pursuit of its objectives.
The Society has a broad-ranging programme of activities in support of its strategic objectives (see the Annual Report on Activities). While some activities are supported from restricted funds, all need continuity of funding. The scale and future risks to the main income streams have led Council to conclude that it is prudent to hold a General Fund from which income can be drawn to maintain and extend its charitable activities. The General Fund, therefore, is invested so as to provide income for activities (particularly the grant schemes) not funded from Designated or Restricted Funds while also acting as a ‘free reserve’ to provide adequate working capital for the Society to operate effectively and efficiently and to be used in pursuit of the Society’s objectives as Council may from time to time determine.
Note on the finances
The information presented above is intended to give a brief overview of the financial activities of the Society during the last financial year and of its financial position at that date. Although it is based on the statutory trustees' report and audited financial statements, they are not summarized financial statements. For a fuller understanding of the Society's finances, refer to the Trustees’ Reports.
Gifts and legacies
The Society has been fortunate, over its history, to receive several significant donations and legacies – among these are those from Rayleigh, Larmor and Hardy. They have been enormously valuable in enabling the Society to extend its support for mathematics and mathematicians. The Society has an increasing number of calls on its funds and Council is keen to maintain, or preferably increase, its level of support for mathematics. That requires increasing the funds available to it and Council is always grateful for donations or if the Society is remembered through legacies.
Legacies and donations are a tax-efficient way of giving to the Society. If you are contemplating making a donation or remembering the Society in your Will, please contact either the Treasurer, Dr Brian Stewart (brian.stewart@exeter.ox.ac.uk) or the Executive Secretary, (ivor.goddard@lms.ac.uk, 020 7291 9970). Further information on making donations or leaving a legacy to the Society is available here.
Further Information on the Society:
The history and chronological map are both taken from The Book of Presidents, 1865-1965
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