One donation by Ryan trust in 2011
THE CHARITABLE trust established in memory of Ryanair founder Tony Ryan with a fund of more than €11 million made a single charitable donation totalling €250,000 last year.
The Tony Ryan Trust was incorporated on December 10th, 2009, with the core objectives of the advancement of education; the advancement of religion; the relief of poverty; and other works of a charitable nature which are beneficial to the community.
Mr Ryan, who died in 2007 and who left more than €95 million in his will, bequeathed €10 million of his fortune to the trust.
Two of Mr Ryan’s son, Declan and Shane, are directors of the company.
In accounts recently filed to the Companies Office, they confirm “the company donated €250,000 to Dublin City University [DCU] during the year”.
The figures show the trust fund received interest payments totalling €53,106 during the year.
The trust’s expenditure last year comprised the €250,000 charitable donation and €18,803 in management of administration expenses.
The donation and the management expenses resulted in the trust recording a deficit of €210,822.
At the end of December last, the trust had a fund of €11.3 million to distribute.
This was made up of €6.3 million in cash and €5 million in financial assets.
Declan Ryan is one of Ireland’s best-known philanthropists. Last year, it emerged that Mr Ryan, along with his late brother Cathal, made a donation of €10 million to build schools in Sri Lanka.
It was reported last year that Declan Ryan had donated at least €27 million up to early 2009 and has continued the giving-while-living philosophy during the recession.