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Support

and offers assistance to the Royal Institution were welcome, but they must be translated into action - and income

In 1799, 58 knights including Sir Joseph Banks, Count Rumford and Henry Cavendish has invested 50 guineas each (a very large sum) to create an institution to introduce new technologies, dissemination of knowledge and apply the science of "common goals of life." It was an innovative initiative focused on public access to scientific and technical knowledge, including the Royal Institution has excelled in over 200 years and continues to this day.

Over the years, the RI had a bumpy ride, often courting controversy, are regularly confronted with financial difficulties and the need to innovate and adapt to survive. In fact, only four years after its founding, the RI was found in financial difficulties. Sir John Hippisley some Rotary treasurer, wrote to the Earl of Hardwicke:

pain I remember when I was a member of the Board of Directors in 1803 ... our capital is exhausted and the company was ? 3,000 in debt, so that the board then proposed to close the home institution and to implement all the effects of a sale to a discharge of your debts. Fortunately, a better determination prevailed. A liberal subscription among members immediately took its place. The debt was paid and approximately ? 3,000 a time invested public funds.

repeat history

How many times? Fast forward two centuries until 2008, when the seat of Rotary in Albemarle Street, accurately and affectionately known as the "House of Science" was completely renovated at a cost of about ? 22m. Ambitious project has not attracted sufficient funding and led to the sale of assets held for income generation and allocation severely depleted. Again RI met with a large debt, income sources and reducing costs higher operating.

The new Board of Directors was elected in 2010. It was clear from the outset that a major overhaul of the governance structure of the institution was necessary, in line with best practices of charity. The annual operating loss reached a maximum of ? 2.6 million in 2010, but by 2012 had been reduced to ? 600,000.

At the same time, we have focused our activities on science education and communication. Number of spectators has increased dramatically in our program public conferences and events, conferences are hitting the Christmas viewing figures of more than four million in the UK alone and are seen by millions of people in the world, and RI Web site innovative channel, which launched in late 2011, is about 1 million video views. Math Our conferences are held in 140 locations across the United Kingdom and membership is at its highest of all time. This success has led us to seek new opportunities many fundraising, but then I am happy to say that we have a number of loyal fans who have responded generously, many do not translate interest into action.

The challenge of strong cash flow and inability to achieve the level of debt means that we have a little time in which to act. As guardians of love, we are very conscious of our obligation to protect their financial health and ensure compliance with the objectives of our Royal Charter. Therefore, at the end of 2012, the directors decided to explore options, including a corporation sublease or transfer of all or substantial part of the property RI Albemarle Street, to the back on a sound financial basis - not only for the future, but for generations to come.

Since the case has made headlines a few weeks ago, the level of public support was overwhelming and inspiring. Directors and myself are extremely grateful for all the support and offers of help, but we have to do is convert into action, and frankly revenue.


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