The income of the National Council for Voluntary Organisations rose by £200,000 in 2017/18, its latest accounts show.
The accounts for the year to 31 March 2018 show that total income was £8.4m, a 2.4 per cent increase on the previous year, according to the accounts, and total spending fell slightly from £8.4m to £8.3m.
Membership levels increased by 729 in the year covered by the accounts, to 13,479, but have subsequently risen to more than 13,900 today, with 94 per cent of members renewing.
The NCVO earned £3.5m from its charitable activities, a £100,000 rise on the previous year, the accounts show, with income from membership, training and events driving the increase.
Income from trading activities stayed at £3m, and the accounts show that the NCVO also received £1.8m in donations and legacies, with the bulk of this coming from the Charities Aid Foundation.
The majority of the NCVO’s expenditure went on staff costs, which stayed at £5m, according to the accounts.
There was also an increase in spending on campaigns and communications, mostly to inform members about Brexit, the accounts say, but spending on research fell slightly.
This meant that the NCVO had a net income of £200,000, which led to a net increase in funds of £1.1m once an £800,000 gain on the defined-benefit pension scheme was factored in.
This left total funds of £3.2m at the year’s end, compared with £2.1m the previous year, according to the accounts.
Free reserves were at £3.7m, well above the NCVO’s reserves target of £2.3m.
The accounts say the trustees have approved a programme of investments over the next two years to reduce the reserves to closer to the target amount.
Salaries for the NCVO’s four highest earners rose by 2 per cent, matching the pay rise received by the rest of the NCVO’s almost 100 employees, the accounts say.
The highest earner was Sir Stuart Etherington, the chief executive, who was paid £141,400.
The NCVO had an average gender pay gap of 12 per cent calculated using the median, and 14 per cent when using the mean, the accounts show.