Legacy income fell 2.3% among Legacy Foresight’s consortium members last year, it has revealed.
Its latest Legacy Bulletin shows that its 80 Legacy Monitor members received £1.46 billion in legacy income in 2018, with an almost even split between those that experienced an increase, and those that saw a decrease, at 41 versus 39.
Bequest numbers have also dropped over the last three quarters, with numbers now totalling 54,325 for 2018.
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Legacy Foresight has launched an online platform that will let its consortium members track legacy supporter journeys, and help them gain a better picture of what works and doesn’t work.
Legacy Journey gives visibility of every consortium member’s legacy stewardship communications across all channels and all legacy segments.
Through the platform, unique seeds for each supporter segment are inserted into consortium clients’ databases with all communication channels opted in, including direct mail, email, SMS and telephone. The communications supporters then receive are scanned and uploaded to the Legacy Journey platform to be viewed immediately in its entirety.
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Income from legacies has “stalled” and could start to fall next year, according to the latest figures published by Legacy Foresight. For the year to 30 September 2018 legacy income for consortium’s 83 members was up by 3.7 per cent to £1.5bn.
Legacy Foresight said: “After good growth over the course of 2017, consortium legacy income has stalled somewhat recently.” It warned that rate of increase is falling and that legacy income may “turn negative for the full 2018 calendar year”.
Legacy Foresight said income is being “squeezed from all sides” and said this is because of a “deceleration in the number of deaths” and “a weaker macro-economic climate”.
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The latest figures on charitable gifts in wills have been released by Legacy Foresight today showing that the public’s legacy donations raised £2.96 billion for good causes in 2017 and are predicted to reach £3.4 billion by 2022.
Rob Cope, Director of Remember A Charity, says: “Legacy Foresight’s report underlines just how important charitable bequests are to the sector now and in the future, funding vital services across the country.”
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Meg Abdy, Director of Legacy Foresight, says this means the biggest impact comes from exceptionally large gifts in wills.
Eight per cent of the annual total voluntary income of the charity sector comes from about 10,000 individual gifts in wills, data from the legacy consortium Legacy Foresight suggests.
Speaking at the Institute of Fundraising’s legacy conference in central London, Meg Abdy, of Legacy Foresight, said analysis of the legacy income of the consortium’s 83 charity members showed that 8 per cent of gifts – those with values of more than £100,000 – accounted for more than half (56 per cent) of their total annual income.
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