The RNID’s annual income decreased by about one-third last year after it sold off its care and support services, latest accounts reveal.
The hearing loss charity’s total income fell to £14.5m in the year ending 31 March 2023, down from £21.9m in the previous year.
The charity attributed the fall to its “strategic exit from regulated services, especially the transfer of care and support services in June 2021”.
Funds generated through care and support services dropped by £4.6m year on year, the accounts show.
In 2021, the charity sold off its care and support services to private care provider Achieve Together in a deal that included the transfer of 600 employees.
The RNID said at the time it made the decision to pay off its debts and focus more on its campaigning and advisory roles.
Income from care services totalled about £18m in the financial year to March 2019, accounting for about half of the charity’s annual income of £39.6m.
The latest accounts show a decrease of £8.1m in its total expenditure compared with the previous year, to £13.8m, the lowest in more than five years.
The accounts also attribute this drop to the charity no longer providing care and support services.
There was a slight increase in legacy donations, rising by £500,000 year on year to £10.3m.
James Abbott, director of performance and corporate services at RNID, said: “Since the transfer of our care and support services to another organisation in 2021, RNID has evolved from a charity delivering social care to one delivering social change for the 12 million people in the UK who are deaf, have hearing loss or tinnitus.
“While this means we no longer receive statutory funding to provide social care services, our voluntary income is growing.”
He said RNID had become “a modern, fully remote digital organisation able to recruit the best talent, with greater ability to support our communities and deliver our ambitious strategy”.
The organisation has 15 employees who earned more than £60,000 in 2022/23, with its highest earner being paid between £160,001 and £170,000.
The annual report highlights RNID’s biggest accomplishments over the course of the year, including its role in getting British Sign Language recognised as an official language of England, Scotland and Wales.