St Vincent de Paul reports drop in income
Howard Lake | 20 June 2012 | News
Ireland’s largest social welfare charity, St Vincent de Paul (SVP), has reported a drop in fundraising income in its latest annual report.
Fundraising income fell from €46.6 million in 2009 to €44.3 million in 2010. Overall income, which includes trading and fees, also fell from €74 million to €73.3 million.
SVP’s largest source of voluntary income, donations, was €20 million in 2009 and €17 million in 2010 while church gate collections held up better, only dropping to €10.9 million from €11 million. Income from fundraising events also fell from over €5 million to just over €4 million.
SVP has traditionally been the biggest recipient of charitable legacies in Ireland and from 2009 to 2010 the annual accounts show that income increased from €6.5 million to €8 million.
Shop sales for SVP also increased from €12 million to €13.3 million.
SVP has a strong balance sheet with current assets including cash of €75.5 million. Despite the recent drop in income SVP has a significantly largest income now than it had in 2006 at the height of the ‘Celtic Tiger’ when its income was under €50 million.
Meanwhile, SVP has announced that they have been selected by Aldi Stores as its charity of the year for the next 12 month period.
www.svp.ie
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.