Charities continue to struggle through coronavirus
13 May 2020 at 6:32 pm
A new survey finds over 50 per cent of charities have lost money during COVID-19
Despite 44 per cent of charities experiencing increased demand for services during the coronavirus crisis, just 4 per cent report an increase to revenue, new research uncovers.
The findings, which come from early insights from the RESET 2020 National Support Program and Research Study, also revealed that 50 per cent of the organisations surveyed so far reported loss of revenue, and 11 per cent needed immediate financial support to continue operations.
The outlook for organisations with a turnover of $250,000 or less is even more grim, with one third reporting they only have between one and three months of financial reserves before they can no longer operate.
Charity staff are also under the pump, with 21 per cent of organisations reporting staff are now working longer hours to keep up with increased demand.
The data collected for the study will shape the content of the RESET 2020 program, which features free advice sessions by The XFactor Collective and Equity Trustees on how the NFP sector can take practical action to make it through coronavirus.
Julia Keady, CEO of The XFactor Collective, said that members of the collective wanted to offer practical, accessible support for the sector.
“Especially because we know that many small organisations can’t normally access this kind of professional advice,” Keady said.
Upcoming sessions will cover running events in the time of coronavirus, how to identify and support staff and volunteers struggling emotionally, sustaining donor and funder relationships and recruitment and staffing challenges.
The study will remain open to continue informing upcoming topics and beyond.
Keady said: “COVID-19 is going to have a long-term impact, so the research will be repeated at intervals over the next 12 months.
“The findings will be shared across the sector, and will help to inform the sector’s future response, as the issues will no doubt evolve over time.”
Register for the program or take the survey here.