Survey Reveals Growing Gap In Charities' Finances

A survey conducted by The Wheel to measure the effects of the recession on community and voluntary organisations, has revealed a drop in organisations' statutory funding and other sources of income, during the first six months of 2009. Of the 146 responding organisations, 75% reported a fall in their overall income, while 67% reported a reduction in the amount of statutory funding they received. Nearly 60% have suspended or delayed projects during the same period due to financial considerations.

Organisations are responding to the drop in income by cutting costs in the areas of human resources and administration, and nearly 22% have made staff redundant since the beginning of the year. On a brighter note: 48% do not believe that their finances will deteriorate any further this year.

Download a synopsis of the results here.