Southampton: Difficult year predicted for Hampshire charities who fail to innovate say Grant Thornton
Charities in Hampshire must brace themselves for a difficult year, says a local finance expert. Trudi Amy, tax director at Grant Thornton in Southampton, says that a recent survey on the state of charity finance in the UK will make uncomfortable reading for many charities across the county. The Charities Aid Foundation (CAF) research found that one in six charities believes that a combination of public spending cuts and falling donations may force them to close next year.
Almost half say they have been forced to dip into their reserves to stay afloat this year, while more than a third have cut services or staff. An overwhelming 80 per cent believe the sector is facing a crisis.
Meanwhile, the total value of charitable donations of £1 million or more has fallen to its lowest level since 2007, at a time when charities’ services are in increasing demand.
Trudi said: “2013 will be a challenging year for many of Hampshire’s charities. However, it’s not all doom and gloom. Changes to expand eligibility to the Gift Aid Small Donations Scheme, which will be implemented in April, are estimated to be worth an additional £85 million to the sector over the next five years.
“The charities that will survive are those that find innovative new ways to fundraise and those who are careful with their financial planning.”
One Hampshire charity that is hoping to defy the challenges of 2013 is Naomi House & jacksplace.
Deputy chief executive Mark Smith said: “We agree that 2013 will be a challenging year for charities across Hampshire and the UK. Careful planning, innovation in fundraising and financial prudence are of utmost importance to us. We have launched a number of new and successful initiatives in recent years and are constantly seeking new ways to work with our corporate supporters. This approach means that we are hoping to expand our service in the coming years, and reach a greater number of families in need of our help throughout central southern England.”
Contact Trudi Amy at 023-8038-1100.
Resources: Grant Thornton website
Trudi Amy, tax director at Grant Thornton in Southampton
