During the pandemic, charities have seen a huge drop in income as fund-raising events are cancelled. Many have had to take drastic steps to adjust the services they provide in order to survive.
According to the survey The financial impact of the coronavirus crisis on the UK charity sector by James Hambro, 8% of senior charity executives believe that over the next 12 months, the charities they work for are at risk of closing completely because of their fall in income, and 57% say they may have to cut back on the services they provide. Over half (55%) believe they will have to consider selling assets such as property to generate cash to continue.
The survey, by James Hambro & Partners, of senior executives who work for charities with investible assets (stock market related investments) of £1m or more, also found that:
