Creating Thriving Communities
Our Vision of “thriving communities where everyone can live with dignity and independence” is our aspiration and what we hope Croydon could become.
Our Purpose in contributing to that Vision is “to make the best use of our resources and our agility to reduce the impact of poverty on people in Croydon”.
Our Vision and Purpose
Our Strategy
In our 2024-2028 Strategy: Do More, Do Better, one of our key drivers was a commitment to do the most with the resources we had, and the agility that being self-funded provides us.
Our Values
Integrity
✔ we respect and treat people as we would like to be treated ourselves
✔ we are honest and straightforward in all our dealings
✔ we are accountable for our decisions and actions
✔ we learn from our mistakes and put things right when we fall short
Openness
✔ we are approachable and listen to and value all those we come into contact with
✔ we communicate transparently, welcoming and responding positively and efficiently to feedback
✔ we work pragmatically, applying the simplest and most practical solutions to challenges
✔ we allocate accommodation and grants on the basis of objective assessments
Compassion
✔ we support people, and it underpins all our decisions and actions
✔ we treat all with kindness and understanding
✔ we respond to people’s needs and views with empathy
✔ we treat all with dignity and courtesy
Inclusion
✔ we encourage a sense of community and good neighbourliness
✔ we appreciate the individuality of every human being
✔ we aim to reflect the diversity of the local communities we serve
✔ we are proud of and celebrate our 600-year-old heritage and our roots
Excellence
✔ we act with professionalism in everything we do
✔ we continuously develop and improve the services we provide
✔ we collaborate with others for the best results
✔ we manage the charity in accordance with the highest standards of governance
Sustainability
✔ we manage our resources to safeguard our financial inheritance and secure the long-term future of the charity
✔ we are ever-conscious of the need to champion and protect the environment
✔ we nurture our internal and external relationships to deliver long-term impact and outcomes
✔ we value, support and invest in our Staff and Trustees, learning and adapting as individuals and as an organisation
How We Are Funded
Our total income in 2024 was £1,722,716
Croydon Almshouses is a self-funding charity. We receive no money through contracts or grants. We have three income streams, noted below.
- Income from dividends34%
- Income from rent25%
- Income from Monthly Maintenance Contributions41%
Dividends from our Investment Fund Portfolio
We hold almost £25 million in investment funds, which are managed by Newton and M&G. These funds hold our endowed funds and unrestricted funds.
Rent from our Property Investment Portfolio
We have eight commercial and twelve residential properties, almost all in Croydon, with two in Wallington.
Monthly Maintenance Contribution
Residents pay a Monthly Maintenance Contribution (like rent) to live in the almshouses as a beneficiary of the Charity. The vast majority of our residents are in receipt in full Housing Benefit.
Our Total Income
In 2024 the total income of Croydon Almshouses was just over £1.7 million.
How We Spend Our Money
How We Manage our Investements
The majority of our financial investments are held in funds managed by Newton Investment Management Limited and a smaller amount are with M&G Investments UK.
Our Spend
In 2024, our total charitable spend was £1,829,138, which includes £206,000 to the voluntary, community and faith sectors, and to individuals, in Croydon Relief in Need grants.
Any income that is not spent during the year is carried forward to ensure the sustainability of Croydon Almshouses in future years thorough our Reserves Policy and Strategy Delivery Fund.
The accounts for Croydon Almshouses are audited independently by Bryden Johnson Limited.
Our History
Elis David Almshouses is Croydon’s oldest charity.
We have a rich history dating back to 1447, when Elis David (also referred to as Elias Davy), a Citizen and Mercer of London, bought land in central Croydon and founded the first almshouses for those in need.
Originally, Elis David built four almshouses with orchards and gardens. He endowed the almshouses with land and property and gave instructions to increase the holdings over the years.
The location of the original almshouses is now known as Ramsey Court and is located in Church Street by Croydon Minster, and is owned by Croydon Council. It is thought that parts of the original north wing may still remain, although with Victorian exterior.
In the mid-19th century, the almshouses were extended, and in 1974, following a land exchange with Croydon Council, the current Elis David Almshouses was built on Duppas Hill Terrace.
Got Questions?
We have tried to anticipate any questions you may have on our FAQ page. If your question isn’t answered here, please do get in touch and we will be happy to assist you.