Age UK Isle of Wight is warning that it may need to look at cutting its services moving forward, despite increasing demand, as it is running at a loss.
Recently published accounts have revealed that the local charity generated a total of £1.46million in the year ending 31st March 2024, with expenditure totalling £1.52million, of which £1.24million went on its 85 staff – resulting in a loss of £117,000. That said, it has almost £1million in the bank to prop up services in the short term.
Although it is said no services are currently at risk, the charity – which has been serving the Isle of Wight for over 50 years – says something needs to change and hopes that raising awareness of the current situation will inspire action and support.
Maria Bunce, Chief Executive Officer at Age UK Isle of Wight, has said:
“Currently, the increasing demand for our services is outpacing our available resources.
“Last year alone, we received over 15,000 calls and supported over 4,800 clients with numerous other anonymous support delivered. The reality is, while we are dedicated to providing services like our Good Neighbour Scheme and Information and Signposting, we have had to rely on reserve funding to meet the growing needs of our community since the onset of the COVID-19 pandemic.
“This year, we have seen again an alarming trend; we are spending more than we receive, and without financial support, we face the very real possibility of having to reduce services that so many people depend on. While charity reserves have allowed increasing demands to be met, they cannot be seen as a sustainable solution.
“We understand that many people may perceive us as a larger charity, but the reality is that every penny raised stays right here on the Isle of Wight, directly benefiting our local community. We are not just a brand name; we are your neighbours, your friends, and your family members working tirelessly to support those who need it most.
Article continues below this advertisement “We can no longer shy away from asking for the support we desperately need. We must be bold in our appeal for donations and funding support. Your contributions are not just financial; they are a commitment to ensuring that older people in our community are valued, included, and heard.
“I urge you to consider supporting Age UK Isle of Wight – as little as £3 can begin a journey. Together, we can ensure that our older residents receive the assistance they deserve, and that our services continue to thrive. Thank you for standing with us in this critical time”.
An annual review, which will provide the community with greater transparency and insight into the work taking place, is currently being produced and looks set to be published in February.
Could do with lowering the prices in their charity shops for a start so people buy more. They are trying to get high end prices for high street goods.
Majority of charity shops thesedays are charging
ridiculous prices.
Primark is much cheaper.
Stop doing lotteries with upto £25,000 to be won every Friday. Use the money for your charity instead and stop begging .
Also lowers prices . Most are donated items . Charging £4 -£5 for items noone wants . Cheaper to buy new.
As with a lot of these ‘charities’ their CEO earns a ridiculous fortune. Whilst all the main hardworking staff are either volunteers or on low pay. Their are plenty of older experienced professionals that would do this job for a lot less. Especially nowadays in a financial crisis. The prices inside the shops are far too high now for ordinary people. If they don’t want ordinary people they are finding out a lot of people find they are ‘above’ walking into a charity shop unless it is to show off how much they give away, not to buy.
Paul Farmer CEO earns between £180k & £200,000 pa