The body that represents fundraisers in the UK has urged politicians to make it easier for charities to diversify income streams in their election manifestos.
As campaigning gathers pace ahead of the general election on 7 May, the Institute of Fundraising (IoF) chair Richard Taylor said on 29 January: “All political parties want charities to do more and play a greater role in society. But is it realistic that this increased role is delivered simply by more volunteers, redesigned services and better commissioning of public services?
“At a time of public sector funding cuts, those increased resources will probably only really come through more and better fundraising. That doesn’t let politicians off the hook. We at the institute clearly have a role, but we absolutely need government to help create a better environment for us all to fundraise in.”
IoF chief executive Peter Lewis added: “Our members want us to work with the next government to give charities the best opportunity to ensure their own financial sustainability by building the capacity of charities to fundraise and delivering the most effective tax system to best support fundraising and encourage giving.
“We are particularly asking the next government to look at the potential to extend Gift Aid to charity lottery tickets, and to examine how charities can get maximum benefit through Corporate Gift Aid. We also think they should consider a strategic intervention to help especially smaller charities diversify their income streams and become more financially sustainable.”
At Moore Thompson, we understand the importance to charities of maximising income for their charitable activities.
As well as advising charities on the viability of initiatives to diversify income streams, we can assist with issues including tax planning, to maximise tax efficiency, and making more of existing finances, including by providing cost-effective outsourced services, such as bookkeeping and payroll. For more information, please contact us.