More than half charities expect their income to go down and just over a quarter think their income will remain static.
Charities expectations of the recession are ’50 per cent worse’ than in December 2008, according to new research by the Institute of Fundraising, Charity Finance Directors’ Group and PricewaterhouseCoppers.
More charities are now feeling the effects of the recession and say they have seen a greater than expected decline in almost every income stream. The exception is statutory income, where 83 per cent of respondents indicated no change – although 70% expect a decline or no change in the future. Legacies are also expected to see a drop with a reduction in investment and property values reducing realisable value.
A fifth still expect to see cuts in services, although 36 per cent expect to see a growing demand for their services.
This is the first update on the ‘managing in a Downturn’ survey carried out in November last year.
The full document is available to individual members of the Institute from its website.