The charity chief executives body Acevo has halted a six-year fall in membership and offset the loss of a £207,500 Office for Civil Society grant by making a record £739,174 from activities to generate funds.
Its latest annual accounts, filed with Companies House last week, show that the number of Acevo members grew by 4 per cent on the previous year to 1,421 at the end of March 2015, marking the end of a long period of decline since the onset of the financial crisis in 2008, when there were 2,102 members.
However, Acevo’s incoming resources fell by 8 per cent year on year to £1.8m, the lowest level since 2006, and it had to dip into its substantial reserves to find £43,756 for investment in a new leadership development programme.
The cause of the fall in income was the end of a long-running grant from the Office for Civil Society, which had totalled £207,500 in 2013/14, leaving the body without any grant income in 2014/15.
It has partly compensated for this by dramatically growing income from activities to generate funds – by 56 per cent year on year and tenfold since 2008, to £739,174.
This includes the profit made and Gift-Aided to Acevo by the business venture it set up in 2010, Acevo Solutions, which provides consultancy support to other organisations and manages corporate sponsorships and affinity income.
Acevo Solutions made a record profit of £298,097 during the 12 months to 31 March 2015.
According to Acevo’s annual report, it plans to expand Acevo Solutions’ work into new areas, but an Acevo spokesman declined to provide further detail.
Acevo’s other income streams fell, particularly professional development, which was down from £190,631 to £36,967, and policy and advocacy, down from £255,517 to £209,201.
The Acevo spokesman said the charity had worked hard to remodel and modernise its membership offer.
"Acevo has posted a rise in membership despite significant government cuts, including the loss of £400,000 of strategic funding from the Office for Civil Society and the Department of Health over the last two years," he said.
"We have worked hard to move Acevo to a more fundraising and consultancy-focused model. This has already borne fruit and will continue to do so."