The Shaw Trust has seen a 12 per cent rise in its income, up to £107.8m, according to its 2013/14 annual accounts.
This was the charity's second consecutive year of growth, following a 13 per cent rise in income in the year 2012/13.
But the employment charity also saw a significant drop in staff numbers and made several redundancies, although it would not confirm how many. It said most of the drop in headcount was because it was not replacing roles as people left.
Employee numbers declined from a full-time equivalent of 1,358 in 2013 to 1,211 in 2014. The actual number of employees is down by 69 people.
The charity paid £326,000 in severance pay to employees earning more than £60,000. It would not confirm whether it had made severance payments to employees earning less than this amount, or how many employees were affected.
It made at least four employees earning more than £60,000 redundant. One employee received pay of between £170,000 and £180,000, including severance payments.
Roy O’Shaughnessy, the charity’s chief executive, told Civil Society News that “the small reduction in staff levels is mainly due to roles within the Shaw Trust not being replaced when employees have left the organisation”.
He also added that the drop in employee numbers was, in part, due to client referrals dropping in its Work Programme team and the charity not opening recruitment for vacant positions.
O’Shaughnessy said: “Shaw Trust also divested the operation of some of our charitable projects. In many cases staff transferred over to the new provider. Our staff turnover is in line with the average for third sector organisations.”
On the large increase in income, O’Shaughnessy said: “Shaw Trust has adapted in an ever-changing environment to ensure that we continue to offer the best possible support to our disabled and disadvantaged clients. Our income increased by 12 per cent in the last financial year and will help further maximise our performance on the key employability contracts while also investing in areas such as our social enterprises, volunteer projects and our education plans.
“I value the hard work and commitment of Shaw Trust employees who have ensured the charity is in a strong position to look beyond and get ready for the future. This includes preparing for changes in employment services but also being able to broaden our ability to enter other areas in support of our beneficiaries.”
The accounts also show that the charity's spending increased from £100.4m in 2012/13 to £106.1m in 2013/14.
The charity’s principal funder is the Department for Work and Pensions. It received £85m in 2012/13, up from £53m the previous year. In 2011/12, the charity saw a huge drop in funding from the DWP when a number of welfare-to-work programmes ended and were replaced by the Work Programme.
The Shaw Trust merged with the Careers Development Group, which also provided Work Programme services, on 26 September 2012.
The highest-earning continuing member of staff took home a sum of between £120,000 and £130,000, while 37 people earned over £60,000.
