The Christian development charity Tearfund’s income dropped by £11m this year due to a loss of US foreign aid funding, figures have shown.
According to the charity’s latest accounts, it recorded an income of £69.2m in the year ending 31 March 2026, down from £80.2m the year before.
The charity’s restricted income fell by nearly 29 per cent, from £44.9m to £32m, the accounts show.
This was a result of the cuts to USAID “and a reduction in the availability of other government awards”, the accounts say.
“We were heavily impacted by the loss of £7.1m in USAID funding and had to scale back work in some USAID-funded projects,” the accounts say. “This is reflective of a sector-wide reduction of global aid from major donors.”
The charity’s unrestricted income “remained resilient” at £37.2m, the accounts say, up slightly from the £35.3m recorded the previous year.
Most of Tearfund’s income came from general donations accounting for £46.5m, while £15.9m stemmed from grants.
A further £5.3m came from emergency appeals, while £1.5m was from other income sources.
The charity recorded expenditure of £69m during 2025/26, down from £77.7m the previous year.
Of this expenditure, £55.7m was spent on charitable activities and £13.3m on raising funds.
Tearfund spent a total of £31.5m on staff costs during 2025/26, which included redundancy and severance costs of £280,000.
Its total staff count fell from 893 in 2025 to 794 in 2026.
When asked about the redundancy costs, a spokesperson for Tearfund said: “In 25-26 there were staff changes, some of which followed the USAID funding cuts.
“Alongside this, some long-serving members of staff left in 25-26 and qualified for payments.”