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There may be challenges to increasing your income during the cost of living crisis. Use this page to:
Income generation takes time, energy and often investment to be successful.
When considering ways to increase income, you should consider the following ideas:
Some funders are offering specific funding to help charities to cope with the cost of living pressures.
Consider if you’ve maximised all the income you are due, entitled to or owed:
You may have relationships with current donors who might be willing to assist you. You could consider these options:
Consider if there are other ways to raise funds. Think about new ways to raise money from individuals or companies.
Social investment is the use of repayable finance to help an organisation achieve a social purpose.
Charities and social enterprises can use repayable finance, for example, by providing money to cover the day-to-day costs of delivering a contract or buying equipment or other assets.
If you have a property or rental tenancy, consider whether you could sublet all or part of the space to another organisation.
Read this guidance on potential options from VWV to learn more.
Charities should expect and negotiate for public bodies to cover the full costs of delivering a service for them unless the charity decides it is in its beneficiaries' interests to part pay for this.
If you’re having a significant increase in your costs, you may choose to:
Consider the pros and cons of talking with the public body. They will have their own duties of due diligence and make sure that public service providers are financially sustainable.
You may also have specific contractual obligations to let them know about the financial management of your service delivery.
If you currently generate income by selling goods, services or access to facilities, consider whether you could increase or change your fees.
Learn more about the pros and cons of charging in the NFP Synergy paper: A Small Price to Pay: The pros and cons of charging charity beneficiaries
Charities can charge more than the direct cost of providing services and facilities as long as the charges are reasonable. Consider how charges – and the charging level – further the charity's purposes for the public benefit.
Trustees must not run the charity in a way that excludes poorer people from benefit.
If you decide to introduce or increase your fees, consider these options:
Consider whether you have any goods you no longer need but have some value at resale, such as furniture, computers or other materials.
Learn more about asset registers and controls on physical assets.
Carefully consider any sale. Equipment may end up costing you more in the future if replacements become limited or more expensive.
If you decide to sell, you should seek the best terms that can reasonably be obtained and be confident that selling these goods is in your charity's best interests.
Always identify if you’ are selling goods to those (someone or ana person, group or entity) closely connected to the charity or its trustees – for example, a family member or business partner of a trustee or a senior manager.
These are known as 'related parties'. You must make sure all conflicts of interest are managed. You may need to include disclosures in your annual accounts depending on what’s sold and how much they sell for.
Last reviewed: 30 October 2023Help us improve this content
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