The UK Society for Co-operative Studies (UKSCS) reported positive financial results for the year ending 10 April 2018.
The organisation has managed to increase its income generated from events and the sale or its Journal of Co-operative Studies.
Over the past 12 months, UKSCS has changed its legal structure from an unincorporated charity to a charitable incorporated organisation (CIO).
Speaking at the AGM on 31 August, chair Ian Adderley said the organisation was in a much healthier position than in previous years.
The 2017 annual conference was a success and helped to financially restore the organisation, he told the meeting. The organisation also hosted an annual lecture, which was livestreamed, and two law seminars in collaboration with Anthony Collins Solicitors. “Cash in” increased from £17,097 in 2017 to £19,007 in 2018 while “cash out” also went up from £4,383 to £7,141.
“The events helped to educate people about co-operative forms and structures and brought in revenue for the society,” said Mr Adderley.
The newly incorporated charity currently has 81 members. The organisation continues to publish the Journal of Co-operative Studies, which is now bought by around 110 universities. In addition to the UK, the journal has subscribers across the world, including in Europe, Japan, Indonesia, USA, Canada and Thailand.
Journal editor, Dr Jan Myers of Northumbria University, said the increase in subscriptions to the journal had led to a higher number of articles being submitted for consideration. The 2019 issues will feature an Irish edition.
The income generated from events and the sale of the journal enabled the organisation to set up designated funds and general reserves and allocate bursaries for those wishing to attend its annual conference
Looking ahead, the UKSCS aims to work on communication and its website.
“We are pleased to report a positive year. The process of incorporation as a CIO went smoothly. We rebuilt our financial reserves. And great work was done on the Journal. We’re now focused on the future: developing our strategy for the years ahead,” said Mr Adderley.
The AGM also awarded Richard Bickle, who retired from the board of trustee, an honorary life membership of the organisation.