CAF pays out more than £500m for the first time

The accounts of of the Charities Aid Foundation show it paid out £539.1m in the year to 30 April, compared with £462.4m the previous year

Donations paid to charities by the Charities Aid Foundation have broken through the £500m mark for the first time, the charity’s most recent accounts show.

According to the charity’s accounts for the year to 30 April 2017, CAF paid £539.1m to charities, compared with £462.4m the previous year.

CAF also received a record £611m in donations and legacies, up from £523.5m the year before.

This means that CAF’s total funds have increased from more than £1.1bn to almost £1.3bn.

The value of the total assets controlled by the charity has also increased, from almost £2.2bn to approximately £2.4bn.

The accounts say that CAF has also completed its withdrawal from a multi-employer defined-benefit pension plan, which will limit its exposure to increased pension liabilities.

Overall investment income has increased from £16.7bn in 2015/16 to £19.1bn in 2016/17, and CAF also launched an investment account for the charity sector.

According to the accounts, the results have come even though "broader uncertainties arose as a result of the EU referendum and the US election, which came against a background of an already weak economic recovery".

Three senior members of staff were among the top earners at CAF, all earning between £160,001 and £170,000, the accounts show.

The amount raised by CAF Donate, an online fundraising platform, grew by 10 per cent to £25m, the accounts show.

Sir John Low, chief executive of CAF, said: "We are overwhelmed by the level of generosity among the people and businesses that work through CAF to support the causes they care about.

"Despite economic uncertainty, we have been able to help our donors give well over £500m to charities, amazing resources that will strengthen communities and transform lives all over the world.

"And we are delighted that so many philanthropists trust CAF to steward and grow their major donations so they can continue giving strategically long into the future."

Earlier this year, CAF Bank, which is owned by CAF, announced that it had more than doubled its lending in the year to 30 April 2016.

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