The Christian poverty relief charity Tearfund increased its income by almost £3m despite experiencing a dip in general donations, according to its latest accounts.
The accounts for the financial year ending March 2015, published by Companies House this week, show that the charity generated an income of £62.2m compared with £59.4m the year before. General donations dropped slightly to £40.9m in 2015 compared with £41.5m in 2014.
The charity attributed the overall increase in income to winning more contracts. The accounts show that income from contracted services rose to £3.9m in 2015 from £1.1m in 2014. This was partly as a result of winning a contract to deliver water and sanitation projects in the Democratic Republic of Congo.
The charity spent a total of almost £63.9m in 2015 compared with £62.3m the year before. A total of £57.8m was spent on charitable activities in 2015 and £5.8m was spent on fundraising and associated costs.
It spent £25.5m responding to international disasters in the financial year to March 2015. This included providing emergency relief to 236,000 people in the Philippines, and supporting 95,000 people affected by the conflict in South Sudan.
The charity had free reserves of £6.8m, compared with £5.8m the year before, at the end of the financial year to March 2015.
Staff costs totalled £21.8m in 2015, with the highest-paid person being former chief executive Matthew Frost, who earned between £80,000 and £90,000 a year. Frost stepped down in September and will be replaced in November by Nigel Harris, who is currently chief executive of the international charity Farm Africa.