1. A thread on the @ioftweets and @CFGtweets story today that charities are facing a massive blackhole to their income for the year. The charity sector is in the midst of the biggest challenge any of us have known. That sounds like hyperbole – it isn’t. https://twitter.com/IoFtweets/status/1273888318271389696

2. Charities have told us they have both lost significant sums in income already, and are having to plan for significant loss of income compared to what they thought they’d make during the year.

3. It could mean a loss of up to £12.4bn across the sector. We aren’t making a prediction that will be the figure, we are taking what charities are telling us they are planning on and reflecting that across the sector. The end figure might not be 100% accurate, but it is real.

4. By 'real' I mean it’s the basis on which charities are working. The reforecast income is hugely important as that’s the basis on which services can be planned & delivered, and people’s jobs saved or made redundant. These decisions are being taken now, and they are real.

5. It sounds like a lot. But, it’s pretty similar to other research – @ProBonoEcon estimates a £6.4bn loss to income over the next six months. And 24% is almost bang on the 25% reduction we’ve seen in GDP in March/April from @ONS

6. Yesterday RSPCA announced 300 potential redundancies, and last week Oxfam announced 200 jobs in UK could be cut. 8 in 10 small charities have had to alter or drop services, Cancer Research UK said that they estimate a 25% drop on fundraising income and charity shops.

7. And all of this going on when our charities are #NeverMoreNeeded Whether it’s continuing to respond to the immediate impact of the pandemic, or picking up the pieces to help society & individuals recover, we need a charity sector which can continue to work for the public good.

8. It's time for more action on what it needs to be done, including building on the initial £750m support and initiatives like the job retention scheme to enable charities to meet the growing need we see. Because sometime soon, it will be too late. This is real.

9. Don't be the man who lived by the river

10. And thank you to all charities who took part in the survey. So important to get this information, and we know how busy everyone is, but we couldn't do this without you. Also, massive thanks to @PwC @daniel_y_chan for the support again on the survey and research