Strong Foundations; Lasting Impact, highlights a year of strengthening Charity Finance Group's own foundations to better support charitable organisations in becoming more financially resilient.
After committing to investing £100,000 in a digital transformation programme which will allow the organisation to better serve its members and the wider sector, CFG is reporting a planned deficit of £123,601 for the 2024/25 financial year.
With the ongoing support of charity members and corporate partners, CFG’s income improved significantly in 2024/25, reaching £1,997,274 compared to £1,822,887 in the prior year.
Expenditure of £2,120,875 was correspondingly higher than £1,723,311 spent in the prior year. The increase of 23% reflecting internal investment, particularly in the digital transformation project and the creation of new roles to support greater impact for members and beneficiaries.
CFG’s free reserves at the end of 2024/25 stand at £188,387, compared to £189,101 for 2023/24. CFG’s financial statements also show the importance of donations, gifts in kind and unrestricted grant funding.
In 2024/25, CFG received £35k from the Paul Hamlyn Foundation, and additional funding was received from the City of London (£48k), the Rank Foundation (£11k), Barrow Cadbury (£1k).
CFG also received £5k from Esmée Fairburn Foundation for project work on behalf of the Civil Society Group. In total, grant funding for the year was £120,000.
Caron Bradshaw OBE, former CEO and current Growth and Sector Solutions Lead, CFG commented:
“Publishing our 2024/25 Trustees’ Annual Report is a chance to highlight all the excellent work the organisation has done to lead the way for charity finance.
"The whole team has worked so hard throughout the year to support our members, partners and the wider sector in what is an incredibly difficult operating environment for charities.
“As the title of this report suggests, 2024/25 was a year where we invested significantly in strengthening our own foundations, which will enable us to grow our own impact in the future.
“That investment is the start of a multi-year process and will continue into 2025/26, as CFG upgrades systems and processes alongside investing in our people.
“The Government's rise in Employer NICs announced in the 2024 autumn budget was particularly difficult for the sector. Our work to communicate the impact of this garnered widespread attention from Parliamentarians and the media.
"We will continue to advocate on behalf of all charities, as many are already making difficult decisions around reducing their expenditure, and remain committed to supporting a financially sustainable sector.”
Sarah Lomax, Co-CEO, CFG commented:
“The 2024/25 financial year was not without challenges, but I am incredibly proud of the whole CFG team for continuing to run an extensive programme of events, trainings and membership services which have seen us expand the level of support we’re able to provide to our members and the wider sector.
“As the sector faces significant external pressures, we have remained dynamic and responsive, and our enhanced digital capabilities mean we’re well positioned to continue driving positive change.
“I’m incredibly enthusiastic about the exciting opportunities ahead, including supporting charities in navigating the new SORP and growing our membership offering to continue meeting our members’ needs.”
Clare Mills, Co-CEO, CFG commented:
“Throughout the financial year of this report, CFG has remained focused on amplifying the voice of charities and ensuring that the financial and regulatory environment enables them to thrive and continue to support the people who rely on their services.
“2024/25 was a landmark year, with a number of key wins, including securing a consultation on charity audit thresholds, after many years of arguing that this should be increased.
“Cross-sector collaboration is vital to CFG's work and success. This year, together with our sector partners and the regulators, we worked hard to improve the operating environment and to deliver clear advice, guidance and support to charity leaders and trustees.
“With the investments in our people and systems we made during this reporting period, with more to come in 2025/26, I’m excited to see us grow our impact even further, as we commit to helping all charities grow their own impact too.”
Kath Qualtrough, Interim Director of Finance, CFG commented:
“We are reporting a planned deficit for the year, but one that aligns with the scale of change we’ve undertaken, and one that reflects the strategic investment we are making to strengthen our foundations for the future.
“The implementation of our new finance system, as well as spending on key platforms like our new CRM and development of our website, will allow us to serve our members and the wider sector in new, impactful ways. And beyond systems, the investments we’ve made in our people will better equip CFG and allow us to remain agile in response to external challenges.
“We’re committed to helping charities achieve more, and by utilising all that CFG provides for the sector, organisations can build those strong foundations, and create lasting impact.”
Hugh Wallace, CFG’s Chair of the Board of Trustees, commented:
“This report marks my first period as CFG’s Chair, and I’m so excited to be in this post as the organisation continues to go from strength-to-strength. The investments we make allow us to ensure strong foundations moving forward.
"Despite a difficult operating environment, CFG has continued to provide an impressive range of services and activities for our members, partners and the wider sector. I am extremely proud of the progress we have made this year and the way we have continued to exceed expectations.
"None of this would be possible without the continued support of our members, partners, volunteers and funders. We extend our heartfelt thanks to everyone who makes CFG a community that charity professionals are proud to belong to and actively shape together.
“The publication of this report also gives us another opportunity to express our gratitude to Caron Bradshaw for everything she has done for CFG during her time as CEO, and we know she’s going to continue growing CFG’s impact in her new role.”
Editor’s notes
About CFG
CFG is the charity and membership organisation that supports other charitable organisations to make the biggest difference possible. We do this by helping them to make their money and resources go further, by putting financial leadership at the heart of their decision-making. Since CFG was founded in 1987, we have evolved to welcome all finance professionals working for charitable and social change organisations. We also welcome non-finance professionals who recognise that we deliver greater impact when we are financially confident, trustworthy and dynamic. Today, CFG’s vibrant community manages around one third of the UK’s entire charity sector income. We are a diverse and inclusive community of people who are passionate about delivering impact through financial leadership. Together, we lead the way for charity finance.
Contacts
Emma Abbott, Communications Manager, CFG: emma.abbott@cfg.org.uk
Glyn Sheldon, Communications Officer, CFG: glyn.sheldon@cfg.org.uk
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