Costs of generating funds
Citizens Advice and every Citizens Advice Bureau are independent registered charities reliant on the support of a wide range of funders. During 2005/06 we spent £73,000 generating the income we needed to support our member bureaux.
Without Citizens Advice, bureaux would not have the services and support they need to operate effectively and many people would be at greater risk of poverty and exclusion.
Citizens Advice is working with a number of key partners on specific projects including financial capability, advising prisoners and giving welfare benefits and money advice to people affected by cancer. However, we need unrestricted funding for new and innovative projects, for example, to increase access to advice and to maintain the support we provide to bureaux.
During 2005/06 we said that we would:
During this year we have:
- raised £2.4 million to cover a range of projects including money advice, support to lone parents, discrimination training and support for rural bureaux
- helped the service secure £33 million over the next two years from the Government’s Financial Inclusion Fund to pay for 370 new debt advisers in bureaux across England and Wales to help over 80,000 people in need of money advice.
Fundraising income by sector
Fundraised income is showing strong year on year growth, with a steady growth in both pledged and received income. 2005/06 was the most successful year for the fundraising team, showing a very competitive return on investment. All strands of income improved substantially. Money from companies has continued to grow as our supporter base broadened. Income from charitable trusts has shown greater fluctuation.
The increase in funds from the 2004/05 total to 2005/06 figures is thanks to a gift of £200,00 from Friends Provident Foundation
Next year we will:
- continue to raise unrestricted resources, including commercial income, and restricted funds to enable the Citizens Advice service to continue to deliver projects and services that benefit citizens locally and nationally
- improve awareness of Citizens Advice and Citizens Advice Bureaux as charities in need of funds.
We raised funds to deliver take up campaigns on tax credits and other welfare benefits.
Our successful Financial Skills for Life project was extended thanks to funding from Prudential plc.
We worked closely with key partners including Mencap, RNIB, Contact a Family and RNID to secure funds to increase financial inclusion.
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