The Kreston Charities COVID-19 Survey Report findings

The results from the survey carried out by the Kreston Charities Group, which includes our EQ Charities team, that act for over 2,000 charities across the UK, paints a mixed picture of the financial health of the charity sector but with a confident outlook for the future.

The Kreston Charities COVID-19 Survey gave charities across the UK the chance to address their current financial picture, use of government coronavirus support and the future of the sector. We’ve highlighted the main findings in the report below:

• More than 95% of the charities questioned believe they have been financially resilient during the pandemic despite less than 10% previously having risk-assessed this situation
• Almost 80% of the charities are happy with their current reserve levels
• 65% expect income to increase from current levels
• 83% feel they will be able to survive the next 12 months
• 50% are expecting an increase in demand for their services
• 57% have been providing more services online
• 50% has accessed the Coronavirus Job Retention Scheme
• 20% have used the Coronavirus Community Support Fund

The report also revealed the changing working practices implemented during the pandemic that are expected to remain including flexible working, more digital & online services and mental health & wellbeing support for employees.

Head of EQ Charities, Mark Gallacher, commented,

“The Kreston Charity Group’s first ever national survey was designed to provide an overview of the impact of COVID-19 on charities and their beneficiaries and most importantly how they see the future. Whilst some charities have been significantly impacted, especially through lost income, others have found more flexibility in the way they raise and spend money.’’

Mike Farwell, Chair of the Kreston Charity Group, Partner at James Cowper Kreston and co-author of the report with Chris Beaumont of Clive Owen LLP, added,

“The good news is that there is a lot of positivity, aligned with some caution, about the way forward. What is apparent is that a clear strategy is needed with the acceptance that things may not be done in the same way they have previously been. Charities need to consider these issues as the world changes to ensure they maintain their relevance.”

Overall, the report is generally positive and highlights the implications of the pandemic on the future of the charities that responded. You can read the full report here.

If you have any questions on the report, or want to discuss any issues affecting your charity, please email our EQ Charities team via charities@eqaccountants.co.uk or contact one of our offices.