Comic Relief has formal policies relating to its investments, its reserves and its grant making which govern the way we operate our core business.
We are committed to allocating all the money raised during Red Nose Day before the next Red Nose Day two years later. And we take the same approach with Sport Relief.
But the money isn’t paid out all at once because some of the grants we give last for a long time – up to six years – and we need to make sure the money is being spent as we agreed. That’s why we phase the payments and ask the organisations to report on what they’re doing with the money before the next payment is made.
And while we're waiting to pay all those charities and organisations their next installments we have a lot of money waiting to go out. We invest that money to try and make it into even more money. That’s why we have a team of the UK's best financial experts advising us how to invest that money wisely.
The additional money we make is then spent on running Comic Relief and making sure we can create another standout campaign the following year, and raise even more for the thousands of projects we support across the UK and world’s poorest countries. We have other money to help run ourselves too – some is from corporate partners, some is from the Government and some is from other income sources.
The above sets of accounts have been submitted to the Charity Commission and Companies House, and you can have a read too.