The Index which is based on annual turnover also tracks changes in income of the 100 charities over a three year period. From 2009-2011, the charity sector saw an overall decrease in income of 8.8% or €265 million. The Index offers an unprecedented insight into the financial health and variances of the Irish charity sector.
Key findings from the Index:
• From 2009 to 2011 there has been an 8.8% decrease in the gross income of the top 100 Charities. This translates to a reduction from €3.05 billion in 2009 to €2.78 billion in 2011.
• The top 10 charities in the Index are dominated by hospitals. Four of the top ten are voluntary hospitals grant aided by the HSE.
• St Vincent’s Health Care is the highest earning charity in Ireland with a gross income of €363 million for 2011.
• Overseas development NGO Bóthar was the biggest faller, dropping 22 places on the Index since 2009. It has seen an overall decline of 26% in its income of since 2009.
• The biggest climber has been the UCD Foundation which has seen its annual income increase by 204% since 2009. It has moved from 150th Place in 2009 to 47th in 2011.
• Health is the biggest sub-sector represented in the Index with 11 voluntary hospitals and 4 hospices making it into the top 100. The overall turnover of the 11 voluntary hospitals has declined 8% since 2009 to €1.2 billion in 2011.
• Overseas aid is the second biggest sub-sector represented on the index. It has seen an overall increase of 10.4% in its combined income since 2009. In 2011, the combined income of the overseas aid charities in the Index was €270 million.
• Trusts, Unincorporated bodies and Co-ops are exempt from the list as they are not required to file annual returns to the Companies Registration Office. This excludes some prominent charities such as Trócaire which is a Trust and The Society of Saint Vincent de Paul which is Unincorporated.
• The income declared in Trócaire’s annual report would place them 9th on the index if they returned accounts. The income declared in the Society of Saint Vincent de Paul’s annual report would place them 8th on the Index.