Alzheimer’s Research UK has reported that its income from gifts in wills doubled last financial year, which pushed its total income to £50m for the first time.
For the financial year ending March 2023, the charity reported an increase from £10.3m to £20.7m in legacies in a year.
The charity said it received five legacy balances that were above £500,000 during the period.
Its total income reached a record £50.0m, an increase of £7.82m on the previous financial year.
Donations accounted for £47.0m (94%) of its income, compared to £39.2m the year before.
Costs of raising funds increased
Alzheimer’s Research UK’s total expenditure increased from £41.4m to £42.5m this financial year.
The charity increased its fundraising activity and spent £13.8m on raising funds, up from £12.9m the previous financial year.
Staff costs at the charity also rose by over £1m to £10.8m. Its highest-paid employee went from earning between £180,000 - £190,000 to the band below.
Meanwhile, seven more staff earned between £70,000 - £80,000 than the previous year.
No money was spent on termination payments this financial year, while over £72,000 was spent on them the previous year.
20,000 new donors
Chair of Alzheimer’s Research UK, Michael Cooper, said 20,000 new donors helped the charity achieve the record-breaking income, and said it now has 68,000 people making monthly donations.
Income from its investments increased by 12% to £1.12m. The value of the charity’s fixed assets increased by £2.69m to £17.4m.
Former prime minister and newly appointed foreign secretary David Cameron was made president of the charity in 2017.
In his foreword to the accounts, Cameron wrote that Alzheimer’s disease is costing the UK £25bn a year.
CEO: ‘Immensely proud’
Hilary Evans, chief executive at Alzheimer’s Research UK said: “This year marks an incredible milestone for Alzheimer’s Research UK as we become a £50m charity.
“I’m immensely proud of our achievements, including our continued support to pioneering research, helping to accelerate progress towards a cure.
“This is a testament to our wonderful supporters, partners, volunteers and workforce, who’ve worked incredibly hard to support our mission to accelerate progress towards a cure.”
