Legacy income up 2.5 per cent in 2010, figures show

Legacy Foresight analysis says market recovery boosted income of its members to £991.6m

Legacy income has risen
Legacy income has risen

Legacy income rose for the first time in two years in 2010, according to the latest figures from Legacy Foresight, which maps and models the legacy market.

Legacy Foresight's quarterly survey, which now includes 51 members covering 53 per cent of charity legacy income, found that their combined legacy income in 2010 was £991.6m, up 2.5 per cent on the 2009 figure.

It says that the consortium's legacy income was 1.9 per cent below the market peak of April to June 2008. That figure is 7.9 per cent when adjusted for inflation.

Meg Abdy, director of Legacy Foresight, said the year-on-year increase was due to market recovery.

"It's to do with recovery in the housing market and stock prices over the period," she said. "That's fed into the residual value of the legacy market, which is particularly important for larger charities."

The monitor includes a warning about the long-term prospects for legacy fundraising."While the recent growth in legacy income is great news, in the light of continued economic uncertainty it may not prove sustainable," it said.

"We expect to see some softening in average residual values - and possibly total legacy incomes - over the next few quarters."

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