Despite uncertainty created by Brexit and the coronavirus, donations to charities continued to rise
Charities of all shapes and sizes benefitted from a massive financial boost over the last year.
Charitable organisations around the world benefitted from more than £702 million paid out from the Charities Aid Foundation (CAF) in 2019/20.
The charity’s annual report reveals that money paid out to charities in the UK and 110 countries around the world during the last fiscal year rose by £56 million compared to the previous year.
Despite the dominance of Brexit negotiations, a UK general election and the start of the global Covid-19 pandemic, donors continued to entrust their charitable giving into CAF’s care in record amounts.
CAF manages donations on behalf of philanthropists, businesses and individuals. Many donations are paid immediately to their cause of choice, while some use their CAF accounts to grow philanthropic funds so they can make grants to charities at a later date.
The report shows:
• CAF received a record £714 million from donors, an increase of 15% over 2018/2019.
• CAF’s quick response Coronavirus Emergency Fund paid almost £6.5 million to more than 1,250 small UK charities
• The CAF American Donor Fund for dual US-UK taxpayers made 1,376 grants totalling £82.7 million, up from £80.6 million in 2018/19
• Donations paid to charities from CAF Charity Accounts totalled £106 million
• Donations to CAF Charitable Trusts reached £177.3 million during the year, £6.4 million more than the previous year
• CAF America saw remarkable growth during the year with donations received more than doubling from £91.2 million in 2018/19 to £205.4 million in 2019/20
• CAF enabled businesses to give more than £92 million to causes around the world, an increase from £78.8 million in 2018/19
Sir John Low, chief executive of CAF, said: “Despite a year that ended with uncertainty such as we have never seen in our lifetimes, our community of donors, be they individuals or companies, responded with record levels of generosity.
“At CAF, we are proud to have facilitated the distribution of those vital funds to so many good causes around the world, especially as many now find themselves in such challenging straits. The numbers in this year’s annual report translate into tangible, vital support for the millions of people who rely on the work of charities.
“The months and indeed years ahead will not be easy ones for both charities and the people they support, but the willingness to give detailed in this year’s report provide a sense of hope that we will be able to recover, rebuild and thrive once again.”