Legacy income at Macmillan increased by 26% to the charity's highest ever amount last year, according to its most recent accounts.
Macmillan generated income totalling £230.7m in 2021, representing an increase of 18% compared to 2020.
Its annual return for the year end 31 December 2021 shows 98% of its income, £227.5m, came from fundraising activities. The remaining 2% came from grant income and investments.
Meanwhile, the charity's gender pay gap increased to more than 10%, which it partly attributed to reducing its headcount significantly.
Fundraised income
As a result of the pandemic, its challenge events went virtual for the first half of 2021. Nonetheless, supporters raised £227.5m in 2021, an increase of £42m from 2020.
Macmillan Coffee Morning 2021 raised £13.3m, which is £3.3m more than 2020.
The charity raised £230.2m in 2021 from its supporters and grant income.
Legacy income was £90.4m, marking an increase of 26%, which the charity said is “the most we’ve ever raised in a single year”.
The accounts read: “This is mainly due to a number of large legacies being recognised during the year, also resulting in an increase in our legacy debtors at year end, which increased from £58.5m to £69.6m.
“Legacies continue to be our biggest single source of revenue, making up 39% of our total fundraised income, and therefore we will continue to invest in this area.”
Grant income for 2021 totalled £2.7m, a decrease from £8.1m in 2020, which the accounts say is mainly due to the £4.9m reduction in income from the Government’s Job Retention Scheme, following the closure of the furlough scheme during 2021.
The cost of raising income in 2021 was £62.5m, a 7% increase on 2020, due to the increase in activities following a year of "pause" due to the pandemic.
In 2021, Macmillan received just over 3,000 complaints, which is 1,400 fewer than in 2020. The accounts show 1,600 of these complaints were specific to fundraising, marketing and communications operations,
Staff, salary and gender pay gap
The median gender pay gap has increased from 8.67% in 2020 to 10.15% in 2021.
This means a middle-ranking female earns 38p less and a middle-ranking male earns 4p more per hour.
The accounts state: “Several factors will have contributed to this increase. In particular, this increase is due to the difficult decision we had to make during the pandemic to reduce our headcount by more than 370 employees.
“However, we recognise that this does not justify the lack of progress we have made in closing our gender pay gap and there is more progress yet to be made.”
The chief executive was the highest paid employee in 2020 and 2021, and was paid between £180,001 and £190,000.
The average number of staff employed during the year was 1,629, down from 1,868 in 2020.
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