Oxfam had 'tough' year as money from shops and fundraising falls
- 24 July 2013
- From the section Business
Oxfam's income fell £17.6m to £367.9m in the year to 31 March with its two main sources of money, shops and fundraising, down on the previous year.
The charity's annual report, published on Wednesday, shows that the shops' net income fell 9.9% to £20.1m, while fundraising fell 5.6% to £267.8m.
Oxfam blamed the fall on tough economic times, and said many shops had reported a decline in donations.
Chief executive Mark Goldring said Oxfam had a "tough year financially".
He said the fall in income came at a time when the demand on the charity's resources increased. Problems in Syria, Yemen and West Africa had put an "unprecedented stretch on Oxfam".
Total spending on charitable activities, at £290m, was a slight increase on last year. But Oxfam spent an extra £3.6m responding to humanitarian emergencies.
Bob Humphreys, Oxfam's finance director, said: "It is not surprising that challenging times for the economy have impacted on our income.
"We are fortunate that regular donations held up well. "However, the lack of a single, high-profile emergency appeal alongside an unexpected shortfall in legacy income led to a drop in the overall contribution from UK public fundraising.
"After several years of pressure on household incomes, people are buying fewer new clothes and other items, which has a knock-on effect on the quantity and quality of donations to our shops.
"We need confidence in the UK economy to return, not least to help the many people in the UK who are struggling financially. We also urgently need people to donate any unwanted clothes, books and homewares to Oxfam. Every item helps."
He said that for every £1 donated to Oxfam, 84p goes directly on emergency, development and campaigning work. Of the rest, 9p goes Oxfam's running costs and 7p is invested in fundraising.