Acevo reduced an expected deficit by almost £150,000 while still delivering on its spending plans and membership support, the charity has said.
The charity’s latest accounts for the year to the end of March 2024 show the leadership body’s income increased to £1.4m compared with £1.3m in 2022/23.
Acevo’s expenditure also increased to £1.5m in 2023/24 compared with £1.2m in 2022/23.
The charity’s board invested a proportion of its surplus reserves in capacity and new skills in March 2023 and Acevo said the decision had started to bear fruit in 2023/24.
“That strategic decision led to Acevo starting the year with a budgeted deficit of £175,000,” the charity said.
“But due to the ongoing efforts of the team the year closed with a final deficit of only £24,649 while still delivering its spending plans and its membership support.”
Acevo had 1,762 members, according to its latest accounts, its highest number since 2012.
More than 65 per cent of its members work at charities with an annual income of between £500,000 and £5m.
Acevo individually supported 80 members through its CEO in Crisis service, an increase of more than 12 per cent compared with 2022/23.
Jane Ide, chief executive of Acevo, said: “There is no doubt that our sector has been through a deeply challenging time and continues to do so, operating in a very volatile and continuing financially restrained environment.
“That Acevo’s membership continues to be highly engaged and that demand for Acevo’s offer continues to grow is evidence of the value and trust that members place in Acevo and the continuing need for tailored leadership support to enable leaders to make the biggest possible difference.”