Wellcome Trust

Analysis

Wellcome Trust is a registered charity in England and Wales, based in London. It was registered in October 1962, 64 years ago. Its declared purposes cover education/training, the advancement of health or saving of lives and arts/culture/heritage/science, which this site groups under health and saving lives. It says it makes grants to individuals, makes grants to organisations and provides other finance.

In the financial year ending September 2025, Wellcome Trust reported income of £589.5m and spending of £2.05bn, spending 348% of what it took in. Across the 5 years on record, from September 2021 to September 2025, income grew from £410.3m to £589.5m (+44%), an average of +9.5% a year. The sharpest change came in the year to September 2022, when income rose by 22%. Over the whole period it spent 314% of the income it received.

Among 24,651 England and Wales charities whose main cause is health and saving lives and that reported income, Wellcome Trust sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in England and Wales with reported income it ranks in the 100th percentile. Charities of a similar size with the same main cause include British Heart Foundation (£410.6m), Cardiff University (£634.1m) and Oasis Charitable Trust (£344.5m).

In its latest detailed accounts, income came from investments 91% and charitable activities 5.1%. Charitable activities took 91% of spending and raising funds 4.8%. Grants to other organisations totalled £1.41bn. Reserves of £35.72bn would cover about 208 months of spending at that rate. It employed 2,358 people.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.