CHARITIES in West Yorkshire have to tighten their belts as the average annual donations dwindle.
A research carried out by specialist bank and asset management company, Investec, revealed that 24% of people in UK have donated less to charities in 2011 than they did in 2010.
Only 11% claim to have donated more while 53% said the size of their donations stayed the same.
The research also reveals that on average, 6% of people who gave to charities in 2010 donated nothing in 2011.
Only 330,000 people in UK increased their donations by 100% or more.
On a regional basis, the north west received the lowest donations in 2011.
Pam Thornes from the Laura Crane Youth Cancer Trust in Huddersfield agreed there was a drop in donations to charities but was optimistic that charities can still survive in these difficult times.
“The big fall in donations to charities was due to continued economic instability in the country, increased job insecurity and public spending cuts,” she said.
She added there are other ways of supporting charity such as volunteering time to go and help instead of giving money.
She was quick to point out that companies and organisations can help charities by donating gifts and other unwanted items that can be useful to charities.
“Giving to charity is not about money – kind donations are also welcome,” added Pam.
Jason Castello, partnership development manager at the Forget Me Not Children’s Hospice in Brackenhall, said donors in Huddersfield are still generous.
He said: “I would say in my experience our supporters across our area are generous beyond measure and would praise the fact that the Yorkshire folks are donating £100 more than the national average.”
Linda McBain from Investec said: “These are very difficult times for many charities because they can face growing demand for their support and services in these difficult economic times, but also falling donations and very poor returns on their cash from deposit accounts.”
She added that it is imperative that charities make sure that deposits work as hard as possible for them and that they are receiving a consistently competitive rate of returns.
Investec has warned that charities have to contend with the fact that many cash deposit accounts targeted at them are paying derisory returns.
Its research showed that 48 of the 174 accounts are paying a rate of 0.1% Gross AER or less on balances of £50 000 and that only 9% are paying 2% Gross AER or more.