Finances
Originally funded by tolls on London Bridge, the rents and leases of the buildings that were on it and also by charitable donations, the Bridge House Estates acquired an extensive property portfolio which made it self-sufficient.
The Fund administered by the Bridge House Estates is solely responsible for the five City Bridges. There is no financial support from the Government or any other fund. If one of the bridges happened to collapse, the Charity would have to rebuild it out of the endowment. The good stewardship of the property and investments of the Estates by the City has led to the accumulation of surplus funds over any such demand on its resources. Therefore the City sought from the Charity Commission to implement a Cy-près scheme to extend its objects (purposes) since September 1995 to make charitable grants within the Greater London area.
In 2003, total income of the Bridge House Estates was nearly £35 million (£41.3 million as of 2012),, and total expenditure and reinvestment was under £29 million (£34.2 million as of 2012),. The total funds held by the Estates are in excess of £500 million.
Read more about this topic: Bridge House Estates