Arthritis Action, a prominent health charity, has articulated its intention to rectify its financial deficit within the next three years by prioritising the reinforcement of its fundraising endeavours. Despite experiencing a deficit over the past four years, the charity remains steadfast in its commitment to ensuring its long-term sustainability.
In light of its variable income, with figures ranging from £391,000 in 2019-20 to £919,000 in the year ending October 2022, Arthritis Action aims to augment its financial position by strengthening its fundraising team. The charity’s reserves have undergone a decline due to its expenditure continually surpassing its income, resulting in consecutive years of deficit.
To confront this challenge, Arthritis Action plans to invest in recruiting additional fundraising staff over the next three years. The objective is to augment its annual income by leveraging trust fundraising, corporate fundraising, and securing more government funding. The charity aims to cultivate enduring relationships with its supporters and partners in order to realize its growth plans.
In its latest accounts, Arthritis Action reported a significant increase in fundraised income, with legacies serving as the primary source. Furthermore, the disposal of one of its properties brought in £326,000 for the charity, contributing to a notable growth in its total income.
The charity remains resolute in its mission to provide aid to individuals living with arthritis across the UK. With this in mind, Arthritis Action is dedicated to ensuring that its self-management services are widely promoted and accessible to an increasing number of beneficiaries. Additionally, the charity aims to expand its reach to healthcare professionals and diverse communities affected by the condition by fostering a diverse and inclusive culture within the organisation.
While the charity acknowledges the anticipated deficits in the initial years of its new strategy, it remains committed to achieving financial stability in the long term. This includes careful and effective financial management, continuous fundraising efforts, and adaptability to changing circumstances. Arthritis Action’s trustees have set an ambitious budget to support the organisation’s growth plans, with an emphasis on achieving a balanced budget in the coming years.
As part of its strategy to achieve financial sustainability, the charity is steadfast in its commitment to operational excellence and enhancing visibility for its self-management services. By creating a diverse and inclusive culture within the organisation, Arthritis Action also aims to reach a wider audience and strengthen its profile in the healthcare sector.
In conclusion, Arthritis Action’s proactive approach to addressing its financial deficit reflects its dedication to providing vital support to individuals living with arthritis. Through strategic investments in its fundraising efforts and operational enhancements, the charity is poised to achieve long-term financial stability and continue its impactful work in the community.
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