How is an institute grant calculated?

Historically local institutes received 12 percent of their members' subscription fees. This has now been replaced with a performance-related payment based on the annual local institute assessment. This new funding model seeks to share the available funds equitably. All institutes are now allocated to one of four bands – excellent, good, fair and poor – on the basis of their annual assessment score. These bands are assigned an associated percentage payment of an institutes total membership fees ranging from 10% to 14%.