What did it cost?
Building the College
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The cost of buying the Jesus Lane site from Jesus College in 1922 was £18,49/7/10 including the houses on Jesus Lane. (£1.06m in today's money). Clearing the site cost £994 (£122k)
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In June 1922 the Trustees launched an appeal to "erect a building which, while plain and simple, will be worthy of our Church and of Cambridge". £40,000 of the Trust's funds were reserved for endowment and they estimated that for the buildings immediately required they needed at least £30,000 and so appealed for £22,000 (2020: £1.3m). The appeal was launched with promises of £2,000 from Sir Henry Holloway, £1,000 from Messrs Williamson and Edmund Lamplough and £1,000 from Mr J Arthur Rank. (Arthur Rank had taken William Greenhalgh's place as a Trustee following his death.)
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The cost of building, which completed in 1931, was £50,170/12/8 (2020:£3.5m).
The Chapel was added later, costing £13.786/- (2020;£1m) and was funded by a gift of £13,000 from Edmund Lamplough in memory of his brother. Michael Gutteridge paid for the west window.
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Amongst the College's other early costs was registering the Coat of Arms in 1924, which cost £76/10/- (2020: £4.6k).
By 1929 the Foundation Fund stood at £84,400 and the Endowment Fund at £59,000. The College's running costs were £3,700 a year; £176 per student. The costs were covered by student payments and a grant from the Theological Institution Fund, with the remainder being covered from income generated by the Endowments (which ran at £2,800 pa).
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As well as supporting various funds, income from the Endowments provided a Hospitality budget of £120 a year and a contribution of £75-£100 to the library. (Commenting on the priority would be mischievous!)
By 1938 the Foundation Fund stood at £92,500 and the Endowment Fund at £61,800. The College's running costs were £4,000 a year; £200 per student.
Costs continued to be covered by student payments, a grant from the Ministerial Training Fund and income generated by the Endowments (which by this point ran at £2,600 pa),
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The six houses on Jesus Lane generated gross income of £315 a year.