Leading animal welfare charity holds more than £2 million in stocks and share investments

One of the largest animal welfare charities in the north holds stocks and shares investments of more than £2 million, according to its annual report.

The Ulster Society for the Prevention of Animals, based in Newry, also holds investments in two properties for which it collects rental income according to its publicly available accounts.

The investments in equities and properties sit separate to its cash in the bank figures, which are over £600,000.

As of 2024, the USPCA said it held £2,046,141 in what it referred to as “low to moderate risk equities”.

Its annual report described the charity’s financial position as “healthy”, with total funds of more than £3.6.

The charity receives the majority of its funding from “legacy” donations – money passed on to it after people pass away.

The USPCA says its “articles of association” convey the power of its trustees to invest its funds into items such as stocks and shares.

“The investment policy is a reserved matter for the board,” its report states.

“The present investment policy is to maximise the long-term total return of the charity’s investment funds subject to the risks normally associated with a cautious approach to portfolio management.

“The fund manager has been selected on the basis of competency and value for money, and the appointment is subject to regular review. At the year end the charity held investments in low to moderate risk equities to the value of £2,046,141.38.”

Its report also included details of a £229,310 investment property in Bessbrook, Co Armagh, as well as a 50% share in a house in Belfast worth £46,250.

The charity says rental income received on these properties contributes towards the cost of its charitable activities.

The chief executive of the USPCA has stepped down in recent months and taken legal action against the charity, although few details have emerged as to the nature of the dispute.

Nora Smith has taken tribunal action following a workplace dispute. She stepped down on February 6 after two years in charge, while the USPCA is currently searching for a new CEO.

The Irish News asked the USPCA why it was necessary to hold more than £2 million in stock investments and properties.

“The USPCA exists to protect animals and promote their welfare across Northern Ireland. Every pound we receive from our supporters is held in trust for this mission,” the spokesperson said.

“Founded over 185 years ago, the USPCA is one of Northern Ireland’s oldest charities.

“The funds we hold have been raised over many years by thousands of members, donors, and volunteers committed to the care and protection of animals. These are not surplus funds—they are a legacy of public trust and a foundation for future impact.

“It is correct that our most recent annual report shows cash reserves and investments, but far from being excessive, these funds are the bedrock of long-term sustainability for our services.

“We have no guaranteed income year to year, and our ability to plan and invest in frontline services—including urgent rescues, veterinary care, and community outreach—depends on strong financial foundations.“

The charity said it was a “misunderstanding” to view cash reserves, stock and property investments as “money sitting idle”.