The Charities Aid Foundation has granted more than £500m to charities in the UK and around the world for the second year, its accounts for the year ending April 2018 have shown.
CAF’s annual report show that it granted £505m to charities in more than 110 countries during the year, with the amount granted down slightly on last year’s total of £539m.
CAF said that this reflects “exceptional levels of giving in 2016/17 driven by a number of large donations, but still exceeded expectations for the year as business and individual donors continued to support tens of thousands of charities to an extraordinary degree”.
The amount of giving by people and companies through CAF in 2017/18 was £607m from donors, down from the record £611m the year before.
CAF manages donations on behalf of wealthy philanthropists, 2,500 businesses and more than 250,000 individuals. Many donations are paid out right away to their chosen good causes, while some use their CAF accounts to grow philanthropic funds so they can make grants to charities at a later date.
CAF received £1.8m in legacies in the last year, down from £4.7m the year before.
CAF’s online fundraising service CAF Donate, processed donations worth £28.7m during the year, up from £25m the year previous. While its grantmaking work continued to grow, delivering 15 grant programmes with £7.3m distributed to 2,184 causes.
It paid £86,000 worth of redundancy and termination costs for the group, and £83,000 for the charity. This was up from 2017, when it paid £70,000 for both. The number of employees grew by ten for the group to 497, and by five for the charity to 422.
The highest earning employee earned between £180,000 and £190,000 for the year in the group, while the highest earning employee of the charity earned between £170,000 and £180,000.
John Low, chief executive of CAF, said: “We continued to be humbled by the enormous generosity of the many thousands of people and businesses who choose to support the work of many amazing organisations through CAF.
“We are proud to be able to help them support charities both in the UK and around the world. Their remarkable levels of giving have remained resilient though uncertain times, a reflection of the deep-rooted tradition of generosity, particularly in the UK and USA, our largest markets.
“We are also pleased to have grown our support for charities, with increased lending from CAF Bank, support for charities’ online and Direct Debit fundraising through CAF Donate and our award winning CAF Investment Account.”