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More than one in ten will reduce donations to charities next year, survey says

1 December 2010

In Brief:
"More than one in 10 adults plan to reduce the amount of money they give to charity in 2011, according to a new survey."

Taken from Third Sector Online, 25 November 2010. Click here to view in full.

FRP Advisory comments:

For most charities, overheads are relatively fixed, so a decline of income is instantly felt. We are already seeing charities with pension deficits needing advice and we expect to see more charities in financial difficulties, requiring restructuring or facing insolvency, over the next few months.

There are realistic solutions for any charity with pension deficit or funding issues that threaten to render them insolvent. There are solutions to this all too common issue that allow a charity to avoid an insolvency process; however, a key factor in any successful outcome is recognition of the issue and seeking advice in a timely manner.

Charities should be considering alternative forms of fundraising and looking closely at their overhead structure.

The key message is that charities should take early advice from accountants and charity restructuring specialists, by way of a free financial health check.

Jason Baker and Nick O’Reilly 

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