Company collapses hit charity income and volunteer support

By David Ainsworth, Third Sector, 24 September 2008

Bankruptcies and mergers of UK firms are expected to cost the voluntary sector millions of pounds in corporate sponsorship and thousands of volunteering hours.

The closure of Lehman Brothers and travel firm XL in the past fortnight alone is likely to hit voluntary organisations hard. Sparks, a medical research charity for children, received about £200,000 a year from its charity partnership with XL, more than 5 per cent of its £3.8m annual income. "It's going to...