Charities 'hit' by credit crunch
Charities
29th September 2008
Charities have seen the credit crunch exact its toll on donations, according to new figures.
Research by the Charities Aid Foundation and the Association of Chief Executives of the Voluntary Sector found that nearly one-third (30 per cent) of charities have seen a drop in the amount of cash they receive via individual donations.
Meanwhile, 88 per cent of surveyed charities believe their income will fall further in the near future, reports the Press Association.
John Low, chief executive of the Charities Aid Foundation, commented: "This research reveals the economic quandary that many charities are facing - increasing costs and demand for their services against a backdrop of static or declining public donations."
Mr Low added that income generated by charities could be increased by up to £700 million each year if every donor gave via Gift Aid.
Gift Aid consists of tax relief which can be backdated to April 6th 2000. 
