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Charities predict big financial hit from crunch

Charity donations are to be hit by the credit crunch, not-for-profit firms have predicted.According to the charities' poll, released by the Charities Aid Foundation (CAF) and the Association of Chief Executives of the Voluntary Sector (acevo) yesterday, one-third of organisations have experienced a decline in donations over the past 12 months.Moreover, with prices still on the rise and the credit crunch showing signs of continuing for months or even years hence, 88 per cent expected their charity to be negatively affected over the year to come.Dr John Low, chief executive of the CAF and chairman of acevo, commented: "This research reveals the economic quandary that many charities are facing - increasing costs and demand for their services against a backdrop of static or declining public donations."He added: "Although one answer would be for everyone to give more, we estimate that around £700 million is wasted in unclaimed tax. If every person who pays tax made their donations using Gift Aid, this would provide a lifeline for many charities in the current economic climate."

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