Celeb charities ’suffering huge slump in income’

February 16th, 2011 - 6:08 pm ICT by ANI  

David Beckham London, Feb 16 (ANI): The economic downturn has triggered a plunge in donations from hard-pressed Brits and those thrown out of work.

And rock-bottom interest rates have stagnated funds.

Now, the Sun has revealed that charities backed by celebrities, including the Beckhams and Sir Elton John, are suffering a huge slump in income.

Income at Elton’s EJ Aids Foundation slumped from 15.6 million pounds in 2008 to 9million pounds the following year. It was rising steadily until the recession bit.

The big-hearted singer was also shocked by a major dip at another of his causes, the Elton John Charitable Trust. It had an income of 276,486 pounds in 2007 but bombed the following year to a paltry 6,000 pounds.

The Victoria and David Beckham Children’s Charity, which supports sick and disabled kiddies, had an income of 580,000 pounds in 2007. But it crashed to just 13,000 pounds last year.

Celebrity chef Jamie Oliver, who works with troubled teenagers, has seen the income at his Foundation fall back from 2.7million pounds in 2006 to 880,000 pounds in 2009.

Sir Bob Geldof has seen income at his Band Aid Foundation drop from 2.1million pounds to just over 500,000 pounds. And Sir Paul McCartney’s favourite charity, People for the Ethical Treatment of Animals, lost nearly 400,000 pounds in donations between 2008 and 2010.

Other celebs whose causes have suffered include Mick Jagger, Lord Lloyd-Webber and golfer Nick Faldo.

And Prince Charles’ Prince’s Trust, which helps enterprising youngsters, is down from 56million pounds in 2006 to 36million pounds last year.

“As we are all feeling the pinch, people are not inclined to give,” said wealth watchdog Philip Beresford, compiler of the Sunday Times Rich List.

“It is particularly cruel as now is the time the money is needed most - and it is just not there,” he added. (ANI)

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