Welsh legacy market: Remember A Charity launches first in-depth report
Melanie May | 12 June 2019 | News
Remember A Charity has launched its first in-depth report into the Welsh legacy marketplace.
Welsh Legacy Fundraising Market 2019 has been released by Remember A Charity today at an event in Cardiff.
It reveals that the top 70 legacy-earning charities headquartered in Wales receive almost £20 million through gifts in Wills annually. This accounts for one quarter of their total annual voluntary income (main image and infographic), at an average of £283,000 each per year.
The report also reveals that while large charities earn the majority of legacy income, the smaller charities in the sample (those with an annual income below £1 million) raise more funds through legacies (£130,000 per annum) than similarly sized charities across other parts of the UK.
And, although charities in Wales generate a relatively small proportion of the total UK legacy income, it also shows that income is growing faster than in other UK nations. Welsh charities have seen a real-term legacy income rise of 35% from 2007-2017, compared with 23% for charities in Scotland, 13% for those with a UK-wide remit and 4% in England.
However, there are challenges: fundraisers questioned for the research voiced concerns that legacy fundraising is not always an area of strength, that they feel distanced from the ‘legacy heartland’ of South East England and worries remain of being overshadowed by UK charities fundraising on their turf. As is the case across the UK, there also remains some apprehension about broaching the topic of gifts in Wills with supporters.
Rob Cope, Director of Remember A Charity said:
“What strikes me from this report and our interviews with fundraisers in Wales is how vibrant the Welsh market really is. It’s fantastic to see how fast the market is growing and strong performance among smaller charities, particularly when the nation that has such a large proportion of community-based organisations. With more charities coming to the table and fundraising for legacies, there is huge potential for further growth.
“We hope that this research will provide the Welsh fundraising community with greater insight and inspire a real sense of confidence among those seeking legacy income.”
The research was conducted by Dr Catherine Walker, director of The Researchery, and Cathy Pharoah, Visiting Professor of Charity Funding, Cass Business School.
Dr Walker added:
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“This research on the long-term trends in legacy income to Welsh fundraising charities demonstrates the importance and resilience of this form of planned giving to good causes across the nation. There’s been very little data on the Welsh legacy market before now and this should help fundraisers not only understand the market a little better, but help communicate the potential for legacies to their managers and boards.”
The full report is available in English and Welsh.
About Melanie May
Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via thepurplepim.com.