Press Fund sees its income fall

Even though income for the journalists’ charity the Newspaper Press Fund was £53,000 down in 2002 on the previous year, no journalist who asked for financial help was turned away.

The fund’s report for last year points to the decline in the stock market and the contraction of support from donors due to the economic downturn, but says it was important to emphasise it met its obligations.

“No one should be hesitant in asking for help simply because the fund’s balance sheet is not as rosy as it appeared a few years ago,” it says.

Despite the downturn, the fund is planning to either renovate or replace its Sandy Cross care home in Dorking, now more than 40 years old.

Total income was £1,131,000 (£1,184,000 in 2001), expenditure was £1,247,000 (£1,303,000), with a net loss of £116,000. Funds now stand at £13,063,000, down from £15,144,000 .

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