Charitable trust’s funds up by £52m 

Shetland Charitable Trust’s funds have increased by £52m to reach  £445.3m.

The significant growth was confirmed in the trust’s financial report for 2023/24.

A report which will be presented to the SCT board members on Thursday said the trust’s investments had increased by £61.3 million.

Its charitable expenditure for the year came to £12.1m.

The trust’s funds had decreased in value by £48.3m the previous year.

Board of trustees chairman Robert Leask praised staff for doing an “excellent job” supporting trustees as well as the many organisations receiving SCT funding.

Mr Leask said the trust had approved its new five-year strategy for 2025-30.

“A key component of the new strategy is enhanced engagement with those organisations which the trust funds,” he added.

“This has resulted in a series of conversations and meetings throughout the year.

“These discussions have proven to be incredibly useful for the exchange of views and enhanced understanding of the challenges and successes faced by these organisations.