The Public Fundraising Association made a loss of more than £148,000 in its last full year before merging with the Institute of Fundraising, its final accounts show.
According to its accounts for the year to 31 March 2016, the PFRA’s income fell from £719,351 the year before to £642,071.
This was coupled with an increase in expenditure of more than £200,000, from £585,861 in 2014/15 to £790,206 in 2015/16, the accounts show.
A spokeswoman for the IoF, into which the PFRA merged at the end of August, said the cost associated with the PFRA’s recent merger was one of the reasons why expenditure increased.
The accounts say that "regulatory business activities" also accounted for much of the increase, with the costs of these activities reaching £701,831, compared with £470,073 the previous year.
The spokeswoman said this covered the costs associated with the PFRA’s expansion of compliance services to include private-site fundraising and telephone fundraising, with two pilot projects launched to test how the new compliance services worked with members.
She said the fall in income was primarily due to the PFRA collecting less through levies on charities involved in door-to-door fundraising.
The accounts show that the highest earner at the PFRA moved from a salary of between £60,000 and £70,000 to one of between £70,001 and £80,000.
The spokeswoman said this was because the PFRA’s board gave the chief executive a pay rise at the end of their first year in post.