How healthy were charity reserves going into the coronavirus crisis?

With coronavirus, the big emergency has hit.

Last week saw a host of charities announce swingeing cuts. Thousands of jobs will go, including at the British Heart Foundation, National Trust and Comic Relief. Breast Cancer Haven is closing some of its centres and laying off staff; African Initiative will shut completely next year.

Charities everywhere are looking into their books and thinking: what have we got saved and how can we use it?

Charities don’t have much choice: emergency government funding is not coming through quickly enough for many; trading income has fallen off a cliff; and mass fundraising events seem as far away as ever.

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