RNIB trustee board to hold urgent talks on legacy shortfall

The Royal National Institute for the Blind's (RNIB) board of trustees is to attend an emergency strategy meeting in the next few weeks after finding a shortfall in its legacy contributions.

A spokeswoman confirmed that trustees will meet this month to review how money is being spent throughout the charity's operations and within its services in a bid to address an anticipated shortfall in legacy donations.

"We're expecting the value of legacies to be left to us to reduce in the coming year," said a spokeswoman for the RNIB, which uses the proceeds from donated company shares and properties to fund its services.

"If the stock market goes down, our assets bring in less money. Other charities have been affected by the stock market, not just us. We have to ensure that things like our pension fund are adequate."

The RNIB said reports suggesting that the charity was facing a £6.2 million shortfall were "not totally incorrect", but added that a cost-cutting plan of £4.2 million was being considered.

The spokeswoman said the review could involve reducing subsidies for services or increasing the charity's prices.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Already registered?
Sign in
RSS Feed

Third Sector Insight

Sponsored webcasts, surveys and expert reports from Third Sector partners

Third Sector Logo

Get our bulletins. Read more articles. Join a growing community of Third Sector professionals

Register now