British NGO CARE International UK, which filed its accounts more than 400 days late this week, admitted there is "material uncertainty" over the organization's future after it saw a big drop in funding from its main backer, the Foreign, Commonwealth & Development Office.
The charity warned in its accounts for the fiscal year to June 2021, published this week on the U.K. Charity Commission website, that there is uncertainty over whether it remains a “going concern,” and is therefore financially stable enough to guarantee its future operation.
The accounts show that the charity, which fights poverty and social injustice globally, had revenue of £62.7 million, down 15% on the previous year — a drop CARE blamed on U.K. government aid cuts.
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About the author
David Ainsworth@daveainsworth4
David Ainsworth is business editor at Devex, where he writes about finance and funding issues for development institutions. He was previously a senior writer and editor for magazines specializing in nonprofits in the U.K. and worked as a policy and communications specialist in the nonprofit sector for a number of years. His team specializes in understanding reports and data and what it teaches us about how development functions.
