Mind’s income has fallen by 9% despite the mental health charity’s revenue from legacies and its shops both increasing by more than 50% on the year.
Recently filed accounts for the year ending 31 March 2022 show that the charity’s total income stood at £73.1m, which is £7.1m lower than in 2020-21.
The charity said the drop can be attributed to “the strong performance of the emergency appeal” that took place in 2020-21.
According to the accounts, Mind’s income from grants more than halved to £12.3m from £32.1m the year before.
Its income from the Department for Health and Social Care fell from £8.5m to nil year-on-year.
Meanwhile, the charity’s legacy income increased by 85% to £6.2m from £3.4m the year before, while its retail income also rose significantly as shops reopened following lockdown measures the previous year.
Additional legacy income expected
In addition to the £6.2m it received last year, Mind estimates that it has been notified of £4.2m of legacy income that it hopes to recognise in future years’ accounts.
“We’d like to thank everyone who chooses to support Mind in this way. As well as putting every gift straight to work, we joined with local Minds to help more people include gifts in their wills,” the accounts read.
“With North Staffs Mind and Dorset Mind, we gave supporters the chance to write or amend their will for free with a local solicitor. 200 people took us up on the offer.”
Shops income increases
Income from its 156 charity shops, which represents over a quarter of its overall income, grew to £19.7m, a 54% increase.
“The net profit of £6.2m from our charity shops was a significant increase compared to the previous year. This is a direct consequence of reopening the shops after the closures due to the Covid-19 pandemic,” say Mind’s accounts.
“The overall provision for dilapidation remains at £0.4m and there were no additional provisions made in the year. This is in line with good practice and is a prudent approach to future business management.”
Grant funding more than halved, from £32.1m to £12.3m while donations fell slightly from £17.4m to £16.1m, potentially due to “external inflationary pressures”.
Redundancy and termination payments decreased by 79% to £119,582 and the average number of full-time equivalent staff fell from 772 to 759.
Paul Farmer, who was Mind’s chief executive until 14 October, received emoluments of £130,898 last financial year, up from £126,400 in 2020-21.
‘Responding to urgent needs’
Mind spent £45m on its work “to make sure everyone with a mental health problem gets support and respect”, including £37.1m that directly supported and advocated for people suffering mental illnesses.
Writing in the introduction to the accounts, chair Stevie Spring said: “With our partners, we’ve responded to growing, urgent needs among racialised communities and young people. From social media to the UK parliament and the Senedd, we’ve used our platform to make sure people are heard. And we don't stop until change starts to happen.
“We’ve also responded to the mental health consequences of financial hardship. As the cost-of-living rose, we created new services and demanded better support with people who know how poverty can push mental health to the limit.
“We’ve responded quickly when new challenges emerge. When the conflict began in Ukraine, we urgently funded local Minds to help refugees and host families cope with trauma. Responsiveness is one of our guiding values, and it’s only possible because of our supporters’ generosity.”
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