In Depth: Niche lines - Helping out the third sector
With inflation running at more than 11%, the highest rate since 1981, the charity sector faces increasing demand for its services due to the cost-of-living crisis at a time when it is under immense pressure to keep its own operations intact. Ed Murray looks at the pressures the sector is facing and how brokers can help support third sector clients
There are around 170,000 registered charities in England and Wales and they account for a combined annual income of approximately £85bn. According to the Charity Commission, there are 923,122 trustees taking responsibility for the use of these funds and managing the sector’s 1.2 million employees and 5.7 million volunteers.
Given the scale of the funds involved and the number of people who are active in the sector, trustees have significant responsibilities to discharge and they carry hefty
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