Acevo's income recovers to hit £1m, accounts show

The upturn is partly a result of income from training and development rising to almost £183,000 in 2018, compared with about £71,000 the previous year

Acevo
Acevo

Income at the charity leaders body Acevo returned to more than £1m in 2018 after falling heavily the year before, according to its annual accounts.

The accounts, published yesterday, show it had an income of £1m in the period to 31 March 2018, compared with £888,000 in 2017 and £1.1m in 2016.

The upturn was partly a result of income from training and development rising to almost £183,000 in 2018, compared with about £71,000 in 2017. 

Supporting services and projects generated £81,000, compared with £49,000 the year before, and about £36,000 was raised from policy and representation, compared with nothing the previous year.   

Membership also grew by 8 per cent to 1,195 in 2018.

The accounts show that Acevo spent about £885,000 in 2018, generating a surplus of £115,000, and it had free reserves of £264,000.

Acevo has experienced a turbulent time financially in recent years, with its income falling sharply from £1.9m in 2014, largely as a result of cuts in government funding.

Highlights in 2018 included launching two leadership reports: Leading With Values: Creating a Safe Organisational Culture and Racial Diversity in the Charity Sector

Acevo also provided 52 members with support and advice through its CEO in Crisis service.

In a blog to accompany the accounts, Rosie Ferguson, chair of Acevo, said: "It’s great to see our membership grow by 8 per cent to 1,195 at year-end. 

"I know from my own experience as a charity chief executive, as well as through talking to peers, that Acevo is a valued network by many, and it’s satisfying to watch it grow and embrace more chief execs from charities and social enterprises of all shapes, sizes and cause areas.

"But just as important as growing the network is making sure we deliver value to those within it."

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