Friday, 24 April 2009 HOSPICE bosses have warned that the next financial year could be their toughest ever because of the recession.
Already there are worrying signs that fundraising will be affected, with the charity now 600 entrants down for their Midnight Walk events, compared with this time last year. With managers needing to raise the equivalent of more than £5,000 a day from donations alone, they fear it could be a challenge too far. The Eden Valley Hospice in Durdar Road, Carlisle, provides in-patient and day care for adults and children with life-limiting illnesses. Its annual report shows that 2008 was a successful year for fundraising, with a surplus of around £268,000 to put into reserves. However, following the massive shift in the economic climate, a repeat of this success looks virtually impossible and bosses predict they will struggle to break even in 2009. And with interest rates at rock bottom, the chance of earning money on the savings has disappeared. Head of finance Paul Cookson said the charity uses every penny it raises and has reserves to fund running costs for around three or four months. Their income target for the coming year is £2.7m and he believes that meeting it will be a massive challenge. Last year’s Midnight Walks in Carlisle and Penrith were the biggest fundraisers, together generating £240,000 thanks to a record number of entrants.
But Mr Cookson said numbers are significantly down for 2009, about 600 people short on the same period last year. The hospice receives around £600,000 of funding support from the NHS a year. This year it will also receive £25,000 and £91,000 from the Big Lottery Fund, although this will dry up over the next few years.