Financial overview

Total charitable expenditure, £484.1 million, was broadly in line with 2004/05's figure (£485.9m).

Grants expenditure dipped slightly, while support for direct activities rose by a small amount, reflecting additional work at the Wellcome Trust Sanger Institute and preparation for the opening of the new public venue, Wellcome Collection, in 2007. Support costs increased slightly, principally due to planned expansion at the Sanger Institute, which now employs more than 800 people.