The recession is turning out to be worse for charities than fundraising and finance directors predicted, according to a survey published today.
The survey is being conducted every six months by a group of sector organisations. In December, 39 per cent of respondents said they expected their income to fall in the coming year. But in May, 45 per cent of the 198 respondents reported that there had been a decline in the intervening six months and 56 per cent predicted there would be a decline in the coming year.
In December, 36 per cent said they expected no growth, but in May 30 per cent said there had been no growth in the intervening time and 26 per cent predicted no growth in the coming year.
The survey, Managing in a Downturn, is a collaboration between the Institute of Fundraising, the Charity Finance Directors' Group and accountancy firm PricewaterhouseCoopers. It assesses how organisations are being affected by the recession.