Charities warned of 2009 dip in donations
Charities
15th January 2010
A fall of ten per cent in donations made to charities occurred in 2009, it has been reported.
With budgets tightening as a result of the economic downturn last year, a study by Investec Private Bank has revealed that third sector organisations were affected.
The total amount donated to charities last year was £5.32 billion, down 9.7 per cent on the figure for 2008.
An estimated 71 per cent of UK adults were found to have given money to good causes during 2009, with the average amount per person standing at £110.20.
However, 20 per cent of respondents said they had reduced the level of donations made over the 12 months, while just 11 per cent raised the amount and Jack Jones of Investec stated that "a drop in donations can adversely affect the good work" charities are doing.
Additionally, the amount of interest being paid on accounts aimed at such organisations has also dropped during the past year.
Those seeking charity insurance are advised that last month the government announced it was providing third sector bodies struggling in the recession with grants more than £3.6 million.
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