Whether your charity generates its income from Endowed Funds that have been invested; local authority service level agreements; trading activities; or from fundraising from the public, its ability to generate income at pre 2020 levels will have been affected.
Share values fell dramatically early 2020 and dividend income continues to be depressed; rental incomes are also suffering as landlords receive requests for rental holidays, or deferment and even loss of tenant. Charities that rely on their investments to fund activities may continue to see a fall in income over the coming months.
Trustees should consider:
- Donor engagement and understanding your donors
To make good decisions, Trustees need to have accurate budgeted income information and key to this is understanding the Charity’s donors, whether they are large corporate donors or individuals. Now more than ever relationships with donors is critical and it will be important to take them on your journey and to share your news and activity with them.
How will your charity meet any projected shortfall of funding? Do you have a plan?
Would the services of a professional fundraiser or bid writer be a way to address the shortfall? Buying in a day a week or other short term period could allow you to get maximum return on applications for funding.