The Secret £millions

Across the country, philanthropists in previous generations established charities to help the poor.  If you search the charity commission website for the name ‘poor’ you will find many of them.  Many have run their course and fulfilled their purpose, but others are sitting on literally £millions of assets, and generating income in excess of their giving.

From the charity commission published information, in my town alone there is one charity which has assets of £1.75 million, including £300 thousand in ‘cash’. In 2018 it had income of over £110 thousand, giving away just over half of that (£55 thousand) at a cost of running the charity of £23 thousand. Every year on record the income has exceeded what they have given away.

Another has current assets of £680 thousand, and an income of around £30 thousand per year. In 2019 it gave away £8 thousand.

Each of these charities has a board of trustees, and I’m sure that they are well-meaning people but surely it cannot be right that charities that are supposed to be helping the poor are year on year increasing their assets – particularly through years of deep austerity.  Why is nobody holding these charities to account?

Probably one problem is that few people know these charities exist; I’ve not seen any of them advertising, and so how does someone in need know that they are there to help?  And if someone is aware of them, do they know how to apply for help and is the process transparent and easy?

There is a line in a Pratchett film which runs something like “the thing about saving for a rainy day is that you have to recognise when it’s raining”.   Looking at the past ten years or more of austerity, I think we can say it’s been raining for some time now; and with the current Covid 19 crisis we might say that we have a torrential downpour.  Surely it’s time for such charities to proactively fulfill their purpose and give away their savings?

And who knows, if they begin to do a good job in really helping those in need they might find that those who have money to spare might actually donate to the charities to support their work?  But as things stand, this seems to be almost a scandal.

Can we do anything to help?  If nothing else, we can have a look at the charity commission list, see who operates in your area, and let people know that these charities exist.

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