Charities reported that they expect a 42% increase in demand for their services but a 48% decline in voluntary income, according to new research published on Monday 30 March.
- Charities are reporting a projected loss of 48% to their voluntary income, and a third wiped off from their total income
- 52% of charities have reduced existing or previous levels of service, with a further 12% intending to in the future.
- 83% say that the most important thing for their organisation’s sustainability over the coming 3 to 6 months is access to emergency grant funding.
- 84% of charities think their organisation could play a role in responding to the coronavirus outbreak, with the majority saying that government funding was needed to help them to do so.
- 91% of charities surveyed have already or expect to have their cash flow disrupted, with 62% indicating that these would result in reduced charitable activity.
For more details and to read the whole report, see the Charity Finance Group website.