ISM Trust Annual Review

We summarise the ISM Trust activities for the year ended 31 August 2021

The ISM Trust was incorporated on 5 November 2014. The objectives of the ISM Trust are to: advance education; advance health; and promote the arts, particularly music. Professional development work is delivered by the ISM Trust, by itself and in partnership with other organisations or respected practitioners in their field. Professional development was delivered by the ISM Trust through webinars, webcasts, regional seminars and training events, and resources.

The ISM Trust’s Company number is 9296727 and Charity number is 1160261.

Achievements and performance

The Trust’s activity throughout 2020-21 centred around continuing to support musicians navigate the ongoing challenges to the profession – whether from COVID19, Brexit or the pressures facing teachers and those working in music education.

In the education sphere, the Trust also held its first series of Teach Meets in May and June 2021. Sessions were held for primary, secondary and music hub teachers. Consisting of presentations from teachers followed by discussion on topics, there were 74 attendees across the three events.

The Trust was commissioned by the National College to produce six bespoke webinars on curriculum music at primary and secondary level. The Trust also extended its partnership with ABRSM to renew the inclusion of two ISM Trust webinars, Setting up your business and Looking after your hearing health in its ‘Becoming a better music teacher’ course on FutureLearn to spring 2022.

The webinar programme continued to flourish with 19 webinars being delivered across the year. Themes running through the programme included SEND, Brexit, transitioning to online teaching; and exploring issues around equality, diversity and inclusion. The last work-strand looked at ways for musicians to increase or diversify their income through webinars on topics such as online realtime music making, and through a partnership with Scottish technology start-up Delic, the Trust embarked upon a series of webinars on topics such as using merchandise to diversify your revenue. This will continue into 2021-22.

Although COVID-19 restrictions meant that most of the Trust’s in person activities, such as the seminar programme, were severely curtailed, three in-person events took place, one at Milton Keynes Music Hub and two events for Cornwall Music Hub. The Trust embarked upon a four-year partnership with NMC Records to support its ‘Discover’ hub on the newly relaunched NMC website. Sales of the Trust’s publications Play and PerformanceAnxiety continued to perform strongly with 40 and 57 sales respectively across the year.

The Friends of the ISM Trust membership was overhauled to make the member benefits more relevant and accordingly the price was reduced to £25 per annum. This resulted in an increase in members with membership standing at 117 as at 31 August 2021.

There have been approximately 58,780 visits to the Trust’s website across the financial year. The most popular was the Primary Music Toolkit page which had 8,153 views.

The Trust’s social media as at 26 August 2021 stands at 2,189 users.

Compliance

The ISM Trust is registered as a data controller in its own right at the Information Commissioner’s Office (ICO). The Trust was also registered with the Fundraising Regulator and in accordance with Charity Commission guidance further training in trustee duties and charity governance was provided to Trustees in 2020. New Trustees received guidance in relation to trustee duties and charity governance during the year.

Financial Review

During the reporting period, total income fell by 39.5% over the previous year to £59,004 (2020: £97,569) and expenditure fell by 54.5% to £51,009 (2020: £112,127). During the year under review, the Trust generated a surplus of £7,995 (2020: £14,558 deficit). The ISM Trust derives its income from three main sources: membership subscriptions, income from events, and donations and legacies.

Income from membership subscriptions fell during the year with £3,236 recognised in the reporting period (2020: £5,377), a decrease of 39.8%. At the start of the financial year, the Trust redesigned the membership offer and reduced the membership fee by 59.7% which resulted in the fall in income. £5,915 (2020: £5,637) has been generated as a result of professional development work an increase of 4.9% over the previous year.

This ISM did not provide a donation this year (2020: £85,000) to support the work of the Trust as the Trust had sufficient reserves to carry out its charitable activities this year. The Trustees acknowledge with thanks a legacy to the Trust from the estate of the late Thomas Johnstone Prentice. Total donations and legacies received during the year were £49,853 (2020: £86,555). The Trustees are most grateful to all individuals who made donations or organised fundraising initiatives during the reporting period.

Expenditure on charitable activities fell by £62,082 to £48,320 (2020: £110,402), a fall of 56.2% largely due to the funding costs of £40,000 recognised during 2019-20 regarding the partnership with NMC on the project called Discover. Other costs fell as expected due to an overall reduction in activities within the Trust this year.

Reserves

The ISM Trust’s Reserves Policy is to maintain a sufficient level of reserves to enable normal operating activities to continue over a period of up to four months should a shortfall in income occur and to take account of potential risks and contingencies that may arise from time to time. On 31 August 2021, the Trust had £90,153 (2020: £82,158) of unrestricted reserves to carry forward, the equivalent of 21 months (2020: 9 months) of the 2020-21 annual expenditure which is well above the target range.

Plans for Future Periods

The Trust will continue to offer information to support the sector around key issues such as music education, how to navigate Brexit and the ongoing impact of COVID-19. In particular it will building on the very successful music education conference held in November 2021. The Trust will continue its partnership with NMC Records to support its ‘Discover’ hub on the newly relaunched NMC website.

Deborah Annetts, Chief Executive, ISM

Left: Yogesh Dattani Photo: Mark Allen Group