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voluntary organisations, social enterprises and volunteering
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Almost 90% of charities concerned about rising living costs
Created: 04/05/2022
News/Events Category: General NewsNearly nine out of 10 charities are concerned about the impact the cost-of-living crisis is having on its beneficiaries, a new survey finds.
UK charity, Charities Aid Foundation (CAF) interviewed 547 charity leaders to gather the findings.
Some 71% of charity leaders are worried about managing an increase in demand on their services. Indeed, the inflation rate in the UK has risen to 7%, which is the highest it has been in 30 years.
The Resolution Foundation has estimated that 1.3 million people are set to fall into absolute poverty due to the cost-of-living squeeze.
Those surveyed were also concerned about the increased cost of utilities, energy bills, rent, fuel and the demand for higher wages from employees (80%). Not only that, nearly two-thirds of charity chief executives are worried about the higher cost of stock, equipment and supplies.
Almost 60% of charity leaders are concerned about people having less money to donate to their causes, and therefore 35% are worried that their organisation may struggle to survive.
Already, 1.6 million fewer people gave to charity in 2020, CAF found. NCVO predicts this will fall further still this year due to the rising cost of living and inflation.
In a regular poll of the public CAF conducted in March, it found that 14% of people plan to cut back on charity donations in the next six months to help manage their bills.
Alison Taylor, CEO of CAF Bank and Charity Services, said: “Charities are impacted by the cost-of-living crisis on many fronts. Many more people in their communities are likely to rely on their support - from food banks, mental health and disability support to organisations offering financial guidance."
“For many charities however, their resources are stretched after two years supporting their communities throughout the pandemic, and they are also having to find the funds to pay higher costs. With tightening household budgets impacting donations, there is a perfect storm facing the sector, and sadly, there are likely to be some charities unable to survive this year.”
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