Kreston Charities Report 2023

The 2023 Kreston Charities Report has been released on the 6th March 2023.

This report, which is based on a survey of over 50 UK charities, explores the challenges currently affecting the third sector and how charities plan to deal with relevant issues such as cyber security, diversity and the climate crisis.

The report showed a number of highlights and concerns for the sector, including:

• Recruitment has become more challenging for charities since the pandemic in 2020.
• 78% of charities had not increased pay by at least the rate of inflation at the time of the survey (10.5%)
• 84% of charities have seen costs (excluding salaries) increase by at least 5% in the last year. 46% have seen costs rise by over 10%.
• 73% said their financial reserves are sufficient to cover future development plans and contingencies for increased costs of reduced income.
• Collaboration between the charities and public sector organisations has increased since the pandemic.

You can download the Kreston Charities Report 2023 here

The “not for profit” sector has a significant place in today’s economy. We understand the complex issues faced by charitable organisations. We also understand the importance of the right advice at the right time. It is essential to keep up to date with changes, notably the taxation regime via the annual Budget legislation. There is also the Charities Act and Charity Commission announcements. Our role is that of a coordinator, we aim to gather all relevant information and use it to provide you first class advice, support and guidance, to assist you effectively and efficiently.

We work with many clients in the “not for profit” sector. They range from small local charities through to regional and then to national entities. Operating in the region for over 40 years, we have a vast amount of experience obtained over this time so we can really give advice based on both knowledge and experience.

Should you require any further advice on any issues discussed in the report, you can contact our team here. 

If you would like to find out more about the survey and the issues facing the sector, you can sign up for our webinar here.