CAF pays out record £702m to charities
Melanie May | 28 August 2020 | News
Charities Aid Foundation paid more than £702m to charities worldwide in 2019-20 – a record year for giving.
According to the charity’s annual report, money paid out to charities in the UK and 110 countries around the world on behalf of philanthropists, businesses and individuals during the last fiscal year rose by £56 million over the previous year.
Overall, CAF received a record £714 million from donors: an increase of 15% over 2018/2019, with over £702m of this paid out.
The report shows that:
- Its Coronavirus Emergency Fund paid almost £6.5 million to more than 1,250 small UK charities
- The CAF American Donor Fund for dual US-UK taxpayers made 1,376 grants totalling £82.7 million, up from £80.6 million in 2018/19
- Donations paid to charities from CAF Charity Accounts totalled £106 million
- Donations to CAF Charitable Trusts reached £177.3 million during the year, £6.4 million more than the previous year
- CAF America saw donations received more than double from £91.2 million in 2018/19 to £205.4 million in 2019/20
- CAF enabled businesses to give more than £92 million to causes around the world, an increase from £78.8 million in 2018/19
- CAF’s online donation service, CAF Donate, processed a record £34.2 million for charities in 2019/20
- CAF Venturesome, its social impact investment arm funded by private donors, made 31 investments, totalling £2.9 million
- CAF Bank’s committed loans and advances to customers reached £138.7 million compared to £105.9million the previous year
Sir John Low, Chief Executive of CAF, said:
“Despite a year that ended with uncertainty such as we have never seen in our lifetimes, our community of donors, be they individuals or companies, responded with record levels of generosity.
“At CAF, we are proud to have facilitated the distribution of those vital funds to so many good causes around the world, especially as many now find themselves in such challenging straits. The numbers in this year’s annual report translate into tangible, vital support for the millions of people who rely on the work of charities.
“The months and indeed years ahead will not be easy ones for both charities and the people they support, but the willingness to give detailed in this year’s report provide a sense of hope that we will be able to recover, rebuild and thrive once again.”Advertisement
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.