A voluntary levy is in operation
Most charities in England and Wales have volunteered to pay a levy to cover the Fundraising Regulator’s costs.
Some 97% of organisations, totalling 1,877 charities, who were asked by the body to pay towards its upkeep did so.
This is the highest collection rate since the Fundraising Regulator was created in 2016.
Its annual report showed the levy accounted for nearly all of its income - £2.2m.
The report also said had reserves of almost £1.2m at the end of the year, which it said was in line with its target of having six months’ spending in the bank.
The regulator said it was “committed to continually reviewing the levy to ensure it remains an effective means to fund fundraising regulation”.
The level of contribution each charity is asked to make is banded according to fundraising expenditure.
The regulator said it was disappointing that 20 charities “decided not to contribute to the levy in 2019/20 and a further 63 charities did not engage with us at all”.
Lord Toby Harris, chair of the Fundraising Regulator, said: “This year our primary focus has, of course, been to help fundraising organisations meet the challenges of the pandemic through guidance and resources.
“As the Fundraising Regulator enters its fifth year of operation, I believe the sector has made significant strides forward.
“The evolution in fundraising practice we have seen in just five years is a credit to the progressive nature of the fundraising sector, and proves our regulatory model is working to raise standards.”
In Scotland, fundraising regulation is overseen by the Scottish Fundraising Standards Panel, in line with the Code of Fundraising Practice.