In 2014 the Trustees were surprised and gratified to learn that The Friends was the beneficiary of a substantial bequest. As long ago as March 1962, Florence Ingle made a will in terms of which the income from her estate was to be used for the benefit of her son, William Ingle, for the rest of his lifetime. Following his death, the estate was to be given to The Friends.
William Ingle died in 2013, and so the Friends are now the beneficiaries. After careful consideration, the Trustees decided that the bulk of the bequest should be treated as an “expendable endowment”. This means that it is to be treated as capital, and reinvested, but that sums can be withdrawn and used for specific projects if the Trustees decide that it is proper to do so.