Financial Report

Breast Cancer Trials has increased investment in the research program by approximately 8% each year for the last five years, as we continue to open important clinical trials that aim to improve treatments and save lives.

BCT generated gross fundraising income of $6.788m for the year, which is an increase of $1.356m from the prior year. We recorded an operating deficit for the year ending 31 March 2024 of $4.722m. There was operating income of $11.853m and operating expenses of $16.574m.

There was an increase in operating expenses of 18% over the prior year, principally due to increased activity in the research program and fundraising. Put simply, we are investing in our fundraising activities, so that we can do more research in the greatest areas of need.

There was total investment income for the year of $2.474m, which represented an annual return in its investments of 9%. After the investment income, the total net deficit was $2.248m. It is forecast that BCT will need reserves of $15.171m (net of external cost recoveries) to meet the committed expenses of its approved research program.