Stock market slump could force charities' closure or merger
Howard Lake | 23 August 2002 | News
The ongoing drop in the stock market is presenting many charities and charitable trusts with severe problems, according to investment analysts.
The asset base of charities could have fallen by more than 10%, Colin Paine of Close Brothers Wealth Management has told The Daily Telegraph. The Guide Dogs for the Blind Association reported a loss last year of £16m as a result of a £20m drop in the value of its investments. Marie Curie Cancer Care also lost £1m last year.
Grant-making trusts, a major element of many charities’ income, are also suffering. The Barings Foundation has lost nearly £12m in investment income over the past year.
Read Share slump ‘will kill off charities’
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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.