The Charities Aid Foundation gave a record £646m to charities in 2018/19, £141m more than it did the previous year.
The latest accounts, which were published yesterday and cover the year to 30 April 2019, show that the CAF group now has £2.5bn in assets and had an income of £620m from donors, an increase of 2 per cent on 2017/18.
Speaking to Third Sector, Sir John Low, chief executive of CAF, said the large increase in the amount of money given out was explained by some structural changes in trusts, an increase in the number of donors, money held in trusts being spent and the strength of the dollar against the pound.
CAF says in the accounts that revenue increased from sources such as the CAF American Donor Fund, where donations rose by 23 per cent to £86.9m.
Giving by businesses rose by 30 per cent to more than £92m, CAF’s payroll giving scheme raised £70.1m and donations to CAF charitable trusts reached £170.8m.
CAF’s online donation service, CAF Donate, processed £27m for charities in 2018/19, and the number of social investments made by its social impact investment arm, CAF Venturesome, almost doubled to 35.
Three people earned more than last year’s highest salary of between £180,001 and £190,000, the highest of whom was on a salary of between £260,001 and £270,000.
Low was on a salary of £195,000 and a bonus of £32,000, which was donated to a CAF Charitable Trust account.
Low told Third Sector that an end-of-contract payment and the value of the dollar against the pound were the reasons for the other two high emoluments.
A statement from Low said: "The scale and diversity of the giving that we have seen from people and companies over the past year has been truly remarkable.
"At CAF, we take great pride in helping to ensure those donations reach people across the UK and beyond. Without that incredible spirit of generosity reflected in the UK and around the world, and in the phenomenal record of CAF America in particular, all of that giving simply would not be possible.
"We are also very happy to see some of our innovative ways to help charities proving so popular with CAF Donate, our award-winning CAF Investment Account and our services aimed at helping our charity partners build their own resilience in a challenging environment."