Stock market losses causes RSPCA to halt all construction work
Howard Lake | 30 September 2002 | News
The RSPCA is the latest charity to announce that it has been hit hard by the fall in the value of its stock market investments.
The RSPCA’s decision to halt all construction work is not the only example of cut-backs by charities following the drop in income from investments. The Guide Dogs for the Blind Association and the Children’s Society have both announced cut-backs in projects.
The Independent lists examples of charities that have suffered losses in their income from investments. The British Red Cross for example “lost £3.3m on investments in 2001,” the Royal National Lifeboat Institution “lost £36.2m, 10% of its balance sheet, on the markets in 2001,” and Barnardo’s
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“lost £6.8m on the stock market in the year to March 2001 and expects losses of £1.3m in the year to March 2002.”
Read “Charities stand accused of frittering away millions on the stock market” by Ian Herbert at the Independent.
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.