Two Fifths of U.K. Charities Report Fall in Income
Two out of five of the top fundraising charities saw their income fall in 2008, according to the latest figures.
The combined income of the top 300 fundraising charities grew just 0.9 per cent in 2008 according to the annual Charity Market Monitor. The previous year income grew 1.7 per cent.
But growth was not consistent across the top 300. Although 37 per cent of the top 300 reported income declines, the top ten showed continued strength with a rise of 2.3 per cent.
Grantmakers and major donors giving levels a ‘time bomb’
Meanwhile the net asset value of the top 300 grant-making charities fell 10 per cent, with two fifths of the grantmakers recording a drop in the value of their grant making programmes.
Cathy Pharoah, co-director of the ESRC Centre for Charitable Giving and Philanthropy and the report’s author, has warned that a new wave of major donors who acquired their wealth in the 1980s and 1990s may not continue to give at the same levels after the recession.
She said the potential withdrawal of such support is a “hidden time bomb”, before adding that the latest figures are “clear evidence of the toll the recession is taking”.
Trusts and foundations saw no significant growth in income, while the value of corporate giving rose to £258m in 2007/2008.
Originally posted on Professional Fundraising; reposted with permission.