Orphans of the storm?
The third sector is in a better position to weather a recession than it has been in the past, says Tessa Akerman...
As people are forced to pay more and more at the shops, petrol stations and in household bills, predictions by those in the third sector are that charities will soon feel the pinch as well, if they are not already. A recent CAF and ACEVO survey [i] found that 71 per cent of charities experienced an increase in costs over the last 12 months. And while expenditures increased, only 59 per cent of those surveyed recorded an increase in their total income, with 17 per cent observing a fall. Unsurprisingly, 72 per cent of charities in our survey reported an increase in demand for their services.
Author: Tessa Akerman
Tessa Akerman is policy executive at acevo, and works on third sector funding and financial issues. She is currently leading work on the impact of the economic downturn on the third sector.
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