Marie Curie, a prominent end-of-life care charity, has reported a significant financial shortfall of £8.7 million, despite receiving an all-time high in legacy donations.
The charity’s latest financial statements for the fiscal year ending 31 March 2023 reveal a 13% increase in expenditures, totalling £126.7 million, leading to this planned deficit.
Notably, legacy donations surged to a record £44 million in the 2022-23 period, up from £38.8 million in the previous year. Despite this, the charity’s overall income saw a modest rise from £165.8 million to £167.3 million.
Marie Curie’s fundraising and trading income also increased, reaching £97.3 million, boosted primarily by the rise in legacy funds. The organisation, which operates 133 charity shops across the UK, surpassed its retail target for the year, achieving sales of £17.2 million, an 11% increase over the expected £15.4 million and a 24% rise from the previous year’s £13.8 million. This success is attributed to the growing trend of sustainable shopping and effective stock management strategies.
The charity’s main fundraising event, the Great Daffodil Appeal, added £4.67 million to its funds, taking the total raised since its inception in 1986 to over £134 million.
Despite these financial gains, the charity faced a deficit, contrasting with the previous year’s £11.6 million surplus. This deficit reflects Marie Curie’s strategic investments in expanding its services, with spending on charitable activities climbing by 13%. This includes significant funding towards its Impact and Innovation Fund and increased wages for nursing and clinical staff to aid in recruitment and retention.
Marie Curie remains focused on its goal to double the number of individuals it supports at life’s end by 2028, aiming to reach 100,000 people annually from the current 44,200.
