A financial deficit anticipated for the year by charity leadership body ACEVO was far less than it had expected.

While ACEVO had started the year with a budgeted deficit of £175,000 it has revealed that it finished 2023/24 “with a final deficit of just £24,649, while still having delivered against all of the spending plans that had been agreed”.

The figures have emerged in the organisation’s annual report and financial statements for the year ending March 2024.

“There is no doubt that our sector has been through a deeply challenging time and continues to do so,” said its chair Rosie Ferguson and chief executive Jane Ide in the report.

“We would like to pay tribute to all the members of the ACEVO team who have worked so hard, with such purpose, and with such commitment to our values in support of our sector’s leaders.

“We would also like to thank our trustees, who have continued to provide their wisdom, their insight and their support, always with the appropriate level of challenge, throughout the year.”

Its report also revealed that its membership network grew by 1,762 members, which is an increase of 2.3%.

Additionally, its member retention rate is 84% and there was a 8.7% increase in sign ups to its online community hub.

During the year it has looked to have an “agile and responsive approach” to its online and other communications with open rates of its newsletters and mailings at 40%.

It also confirmed that it is “now focused primarily on Linked In” for its social media communication. In August it announced that it will no longer actively post on Elon Musk’s platform X.

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