WaterAid grew its income by 3 per cent last year to £83.4m, but has said it wants to raise more money from institutional donors, it has said in its latest annual report and accounts.
The international aid charity, which focuses on water and sanitation, said in documents filed this week that it had exceeded its targets in recruiting 40,000 new individual givers, but had not hit targets on fundraising from institutional donors such as governments, companies, international bodies and trusts and foundations.
“We did not do as well as planned in raising funds from institutional sources, which fell from the prior year,” the charity said.
“This stream of income has not been as healthy or as resilient as it should be, and we have changed our approach to raising these funds.
“We have restructured our team and brought in talented global leadership to seek much greater support from this sector.”
The charity has set itself a target of growing that income by 10 to 20 per cent in the next year, to at least £25m.
The charity said total expenditure was £81.9m, leaving it with a £1.5m surplus for the year.
Reserves were £14.2m, in line with the charity’s targets. The highest paid member of staff was the chief executive, who earned £121,000.
A spokeswoman for WaterAid said: "To improve capacity to bid for and report back on institutional funding, WaterAid changed its approach in 2017, moving that responsibility out of the Fundraising department into a dedicated team in our International Programmes department. There were no redundancies as part of the restructure.
"This has allowed closer alignment with our country offices around the world and with our institutional donors and partners. It has also enabled us to work more effectively to invest in our programmes to deliver water, sanitation and hygiene promotion to some of the world’s poorest communities."