Legacies help boost Irish Heart Foundation income
Howard Lake | 4 March 2015 | News
The Irish Heart Foundation’s (IHF) income increased by 35% between 2012 and 2013 mainly due to a significant jump in legacy income, according to the charity’s latest annual accounts.
Legacy income in 2013 was €1.3 million, against €600,000 in 2012. IHF says it advertises extensively for legacies but that it is a volatile source of income.
Total income for IHF was €6.8 million, from €5 million in 2012. All but 8% of the income comes from voluntary sources. The charity has funds of nearly €9 million.
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Other fundraising IHF initiatives such as Happy Hearts, Overseas Walk, Regional Events and Skipathon raised €1.3 million, a decrease of 2% on the previous year. Happy Hearts raised €320,000 in 2013, down from €380,000 in 2012. Expenditure for Happy Hearts in 2013 exceeded income nearly €10,000.
Charity walks income did increase from €131,000 to €149,000 in the period but last year’s expenses for walks were up at €119,000. Skipathon showed most significant decline, from €128,000 to €54,000.
IHF notes that the fundraising environment has become increasingly competitive and this has had led to an increase in costs.
The accounts list Arthur Cox, which was recently embroiled in a controversy over its work for a tobacco company, as IHF’s solicitors.
Source: www.irishheart.ie
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.