Legacy income could fall by 10 per cent

Fundraising | Celina Ribeiro | 19 Jun 2009

Legacy income has fallen over the last 12 months, but it could drop even further, according to the latest figures.

After years of strong growth, the past year has seen a drop of 2.4 per cent in the value of legacy income according to the Legacy Market Monitor, which tracks legacy revenues of 38 charities.

Among the 38 charities which form the Legacy Market Consortium, and which represent 56 per cent of the legacy market, income from legacies declined by £21m.

But, the Monitor authors warn that the market has yet to bottom out, predicting that income from the valuable stream could yet fall by up to 10 per cent from its peak in 2008.

The main driver of the fall in legacy income was reduced residual bequest values – a result of the decline in house and share price values - which suggests that without a surge in both the housing and stock markets, the downward trend in legacy values will continue. Average residual bequests dropped by £3,000 over last year, from £55,700 in the year leading up to March 2008 to £52,700 in the year ending March 2009.

Who's Who: Celina Ribeiro

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