Coronavirus (COVID-19) – Funding available to charity sector 1 April 2020

Charities are currently having to operate in perilous circumstances, as they find themselves in the difficult position where demand for the services they offer is going up whilst their income is falling. The situation is particularly challenging for those charities that are reliant on fundraising, or that would typically generate significant income from charity shops. The general public is feeling the financial effects of the Coronavirus, with increased redundancies or reduced hours and thus less disposable income for donations.

The Charity sector expects the COVID-19 pandemic to cause a decline in fundraising income of around 48%, per the recent survey carried out by the Institute of Fundraising, the NCVO and the Charity Finance Group. 

Charity leaders have warned that charities across the country are facing imminent collapse as fundraising income dries up. The National Council for Voluntary Organisations estimates that charities will lose circa £4 billion out of an expected £12.7 billion of income over the next quarter.  Therefore the sector needs support, and it needs it quickly.

There has been a huge amount of government support for businesses, such as the Business Interruptions Loans announced for companies who need bridging finance to get them through whilst nothing similar has been announced for the charity sector. The government needs to step up its level of support to charities by way of emergency grant funding to help stabilise the sector and to help them get through this very difficult period.

We are seeing a significant amount of non-government emergency funding being made available for charities. Charity Bank has compiled a list of emergency funds currently available to charities and social enterprises that are experiencing difficulties. The list can be accessed here. 

To find out about the range of support on offer for charities, including grants and more please contact your usual Bishop Fleming advisor.