Legacy income hits record high at Royal British Legion
Legacy income at the Royal British Legion hit a record high of £22.5m as overall income rose to £163.3m.
In the latest accounts for the charity, which cover the year to 30 September 2018, overall income at the charity was 3 per cent higher than in the previous year.
Donations, not including legacies, also increased, from £23.8m to £26.4m, the accounts show.
Legacies had previously stood at £21.2m before increasing by almost £1.3m in the latest accounts.
The figures run counter to the collective trend among the UK’s biggest charities, which have generally seen income from fundraising fall, offset by rises in legacy income.
Third Sector’s analysis of the 155 best-known charities that make up our Charity Brand Index found that income from fundraising had collectively fallen by £300m to £4.8bn, while legacy income rose from £1.5bn to £1.6bn.
The Royal British Legion’s accounts also show that total expenditure increased, from £155.3m to £165.3m.
Once gains on investments were taken into account, the charity had an overall net income of almost £11.4m.
The number of staff at the charity earning more than £60,000 rose by 50 per cent, from 26 to 39, the accounts show.
A spokesman for the Royal British Legion said: “The Royal British Legion’s financial landscape is reflective of the organisation as we evolve and adapt to the changing needs of our beneficiary community, and our response to changes and challenges within fundraising practice and donor behaviour.”