According to a 2018 survey, 12% of participants explained that they had not donated to charity in the last 12 months due to concerns that their money would not be spent fairly and effectively. After all, there are thousands of people in the UK who simply cannot afford to make frequent donations even though the majority of registered charities rely on such generosity in order to continue making a change. Read on as the team here at Speed of Sight go over everything there is to know about the way that charitable donations are spent…
Although the exact figures will differ from charity to charity, the majority of organisations will spend between 26-87% of their annual income on the charitable activities that they intend to provide. After all, some of these funds must be spent on utility bills for the head office and wages for those who work for the charity themselves, as around 9% of charities have paid staff. These statistics are can also be based on a per pound basis too as charities will often dedicate a certain portion, such as 0.80p for every £1 donation, to charitable activities rather than a final percentage figure.
In order to avoid negative press, it is important that registered charities are as transparent as possible with their donors and volunteers. After all, it is no secret that these organisations rely on donated funds in order to make a change, however there is a common misconception that paid employees working for a wage take up a large percentage of the money that is accumulated throughout any given year.
Luckily, technology has played an integral role in gaining public trust as many charities now allow donors to see exactly where their funds are going in a similar format to an annual tax summary by using a program known as Blockchain. Whilst this isn’t utilised by every UK charity, it is safe to say that is an important stepping stone in the right direction.
Mike Newman, the co-found of Speed of Sight, is a world-record holding daredevil with a need for speed. In fact, he has helped hundreds, if not thousands, of people experience the freedom of driving when they otherwise wouldn’t be able to. To find out more information about charity fundraising and the different ways that Speed of Sight aim to make a difference, get in contact with a member of the charity team today!