How trustees can offer support during the cost-of-living crisis
The cost-of-living crisis is on everyone’s minds at the moment, as soaring inflation causes rising costs, rising bills, and a general sense of uncertainty when it comes to our finances. For charities, there are three core areas of concern.
Firstly, how can they meet rising demand for their services as the crisis goes on? Secondly, how can they fund these services, with demands on their donors’ finances increasing alongside overhead costs like heating and electricity? Finally, how can charities offer support to their own employees who may be experiencing financial difficulty outside of the workplace?
How charities choose to respond to the cost-of-living crisis is an issue that needs to be addressed at the very top level of the organisation. Trustees and members of the charity board cannot ignore the crisis as it seeps into every area of their operations and demonstrably affects the wellbeing of their staff and beneficiaries.
According to the Office for National Statistics, 91% of adults in Great Britain reported an increase in their cost-of-living between October and November 2022. Furthermore, research from fundraising and events platform Enthuse found that the cost-of-living had become the greatest concern for charity donors, overtaking COVID-19.
With tensions running high, we explore how trustees and charity boards can offer their organisation vital support with better decision-making and communication…