When approached by the newspaper, a Lloyd's spokesman said the LRF is not a publicly funded charity, but is instead, funded 'by the profits from its trading entity, Lloyd’s Register Group Ltd.' He told The Telegraph: 'It's important for charities to be as transparent and accountable as possible - so people can make an informed decision about where their money goes.' There are too many examples of charities of all sizes failing to remember that they exist for the sake of their beneficiaries, not the staff.'Ĭharities' minister: Rob Wilson said last night that voluntary organisations need to 'reassure people and make very clear that the money donated to them will be spent on frontline charitable activities'Ĭharities' minister Rob Wilson said last night that voluntary organisations need to 'reassure people and make very clear that the money donated to them will be spent on frontline charitable activities'. 'It is time a light was shone on the sector so people can see just how their hard earned money is really being spent by all charities.
Ms Miller said: 'The army of extraordinary small and medium size charities who form the backbone of our communities are being drowned out by some of these extravagant and grossly inefficient big brand charities. Its 'A Hornets' Nest' report, first seen by The Telegraph, claims that 17 'large charities' with a £50million or higher annual income spend an average of just 43 per cent on good work. It looked at figures from the Charity Commission's websites in relation to each organisation. The True and Fair Foundation analysed data on 5,543 charities - with a combined annual income of £40.7billion - to discover 'how much of their income was spent on the end charitable activities'. Many of these charities are given large sums of public money annually, as well as donations. Analysis: Another graph by the True and Fair Foundation, apparently based on Charity Commission figuresĪnd the LRF, The Racing Foundation and The Motability Tenth Anniversary Trust seemingly spent just £20million between them on charitable work over the past three years, the report shows.
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