The Alzheimer’s Society’s fundraising income rose by 11 per cent last year, the latest figures show.
The charity’s accounts for the year to the end of March 2018, filed last month with Companies House, show its overall income was up to £106.9m from £103.6m in the previous year.
This included a rise in income from donations and legacies from £65.8m in 2016/17 to £73.2m last year.
Income from trading activities, which includes sales made through its online shop and event registration fees, grew by 2 per cent to £3.6m.
When added to the £73.2m raised through donations and legacies, this amounted to an 11 per cent increase in fundraising income year-on-year, the charity said.
The charity’s income has grown rapidly in recent years and was £70.8m in 2012/13.
Another dementia charity, Alzheimer’s Research UK, revealed earlier this year that its income had increased by 38 per cent in the year to the end of August 2017, meaning its income more than tripled between 2011/12 and 2016/17, from £9.1m to £30.5m.
The Alzheimer’s Society’s accounts say its fundraising income increased in all areas last year. Income from regular donors and cash appeals amounted to £9.2m, an increase of 13 per cent on the previous year.
The society said 9,000 new players signed up to its weekly lottery pool, taking the number of players to more than 13,000.
Its annual Memory Walk event raised more than £7m, its highest total, from more than 90,000 participants.
The charity, which spent £25.8m on fundraising over the course of the year, said it hoped to raise £3.5m through this year’s Virgin Money London Marathon, for which it has been named as the official charity partner.
But the society said income from charitable activities, which relates to services commissioned by local authorities and the NHS, fell by 12 per cent to £29.2m last year.
"Despite our best efforts to highlight the importance of care for people with dementia, we continue to see service closures due to a decline in funding by local authorities and the NHS," the report says.
"Income also fell due to stiff competition from other service providers and our decision not to bid for contract renewals on services that are not core to our strategy, where these services can be delivered by other providers instead."
Expenditure rose from £109.5m to £112.5m in 2017/18, meaning the charity recorded an operating deficit of £5.5m. But it had £30.1m of funds, including £22.3m of general reserves, at the end of the year.
"The decrease in reserves was planned and controlled, as we invest for future growth and innovation," the accounts say.
The charity employed an average of 2,400 people over the course of the year, about half of whom worked part-time.
It spent £51.5m on salaries and £445,000 on redundancy costs over the course of the year.