Four out of five charities struggle to find funds
A survey of 800 small and medium-sized charities has found 81 per cent are struggling for funds.
More than 60 per cent believe the difficulties will only get worse during the next two years, according to the research by the Lloyds Bank Foundation. Twenty per cent think their chances of securing funding will stay the same, while five per cent think it will get easier.
Other challenging areas for participants include the increase in demand for services.
“Great small and medium-sized charities reach and support some of the most vulnerable in our communities and the numbers seeking their help are rising, yet funding is being reduced,” said Paul Streets, chief executive of the Lloyds Bank Foundation.
“Commissioning is favouring larger and commercial providers, leaving smaller and local charities and their clients out in the cold – sometimes literally.
“We hope this report will be a wake-up call and that David Cameron and colleagues will hear it and put small and medium-sized charities at the heart of tackling the great social issues of our day.”
The charities participating in the survey have all received grants from the Lloyds Bank Foundation and have annual incomes of between £25,000 and £1m.
Moore Thompson’s expert charity team is ideally placed to work with trustees and their charities to strengthen financial systems and assist with cost controls. For more information, please contact us.