CFG publishes Annual Report 2015

7th October 2015

CFG have today published their 2014/15 Annual Report and Financial Statements

The report, Inspiring, Influencing and Leading, details a strong year of growth for CFG in a number of areas. CFG has seen its membership grow by 2% to reach 1,362 organisations. This is despite the financial pressures facing the charity sector as a whole. CFG welcomed on board 178 charities who became members of CFG for the first time in 2014/15.

CFG’s major change programme is on-going, but it has already helped to deliver a strong performance in terms of income growth – up 7% on the previous financial year.

Alongside the growth in membership, CFG have returned its reserves to the target range in one rather than the three years previously planned. This has been driven in part by increasing efficiency and improved procurement processes, as well as cost-savings measures implemented throughout the year.

CFG also saw significant growth in the number and reach of its events. Over 5,500 people attended CFG events programme – up 5% on the previous year. 100 events were organised – up 15% on the previous year.

As one example, the training CFG provided on the Statement of Recommended Practice (SORP) for charities led to 98% of attendees saying their knowledge and understanding had increased, and 97% said they knew what next steps they needed to take as a result of the training. This is an important part of CFG achieving its objectives to improve financial management in the charity sector.

Caron Bradshaw, Chief Executive of CFG, said:

“I’m delighted with the results we’ve seen this year. CFG has seen growth both financially and in terms of the positive impact we can have for our members and the wider sector. The results show that our ambitious programme of change is paying off. We’ve worked hard to improve our operations, culture and mix of skills, and I’m pleased that the decisions made have taken us where we wanted to go.”

Ian Theodoreson, Chair of CFG, said:

“The growth CFG has seen in 2014/15 shows that there is an increasing understanding amongst the sector of the importance of strong financial leadership in charities. I think there’s clear recognition of the merit in putting finance at the heart of your charity, and that robust financial processes are essential to ensure organisations’ sustainability.

I’m delighted that CFG have seen a strong year of growth in 2014/15, and that this has continued into 2015/16. We are focused on planning for the future, and ensuring that this growth is sustainable for the long-term”.

The full annual report can be downloaded from www.cfg.org.uk/annualreport. We've also produced a short summary document outlining some of the key highlights from 2014/15, as well as an update on where we're at now, midway through 2015-16.

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