The charity had an income of £95.5m for the year, compared with £95m in the previous year. There was a fall in donated income, down 7 per cent to £57.7m from £62.2m, and a large rise in grant income, up 15 per cent from £27m to £31.1m.
Total funds on the balance sheet fell by about £1m to £27.8m and the operational reserves fell by 18 per cent, to £16.5m from £20m. The charity said in its report that it expected reserves to fall further in 2012/13.
The charity said that fundraising events such as its Christian Aid Week had been hit particularly hard. Income during this week fell from £13.4m in 2010 to £12m in 2011.
However, it said that income during the year "was in line with the board-approved plan and continues to exceed expenditure".
Last month, the charity announced that Dr Rowan Williams, the former Archbishop of Canterbury, would become chair of trustees in March.