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Download the latest Charity Good Merger Index

Charity Merger Research (The Latest Good Merger Index)

This report is our latest research and review of the charity mergers that took place in 2023 to 2024. We found that the number of charity mergers surges by 31% and overall deal value by 500% as organizations face growing demands, rising costs, and explore opportunities for sustainable growth.

The 11th edition of the Charity Good Merger Index (2023/24) the review of charity mergers in England and Wales was launched on 12th March 2025.

After 2 years of decreasing numbers, this year’s report has identified significant increases in both the number and value of charity mergers. The 63 mergers involving 131 organisations is a 31% increase from 2022-23 and a 24% increase from 2021-22.

The significant involvement of larger organisations in mergers contributed to a remarkable year-on-year growth in the overall value of deals. In 2023-24, the total value of these deals reached £192 million, representing a huge increase of over 500% compared to the previous year.

The recording of the annual Good Merger Index launch event will be available here after the launch webinar.

Hear Chris Martin (Chair opf Beat and AI Consultant) & Michael Lister (Youth Advisory Panel Chair) of digital youth support charity The Mix and Dr Mark Ungless, Dr Mark Ungless Director of Data Science, AI & Research of Mental Health Innovations (MHI) discussing their experiences from their merger which was completed in September 2024.

Report Summary:

Key Stats: Mergers, in most cases, do not happen quickly. Decisions taken to merge may be made a year or more before the completion of the merger. Because many mergers are announced in early April each year, we use a 12-month period running from 1st May 2023 to 30th April 2024 for the data in the report.

After two years of record low levels of activity, the number of mergers recorded (63) and the total number of organisations involved (131) marks a return to pre-COVID-19 levels of activity. This is a 31% increase from 2022-23 and a 24% increase from 2021-22
The notable rise in activity among larger organisations indicates that current economic challenges and societal changes are affecting charities of all sizes, leading to consolidations right across the sector
While mergers among smaller organisations also increased, the number was proportionally far less significant than for larger organisations. 65 organisations under £1m were involved in mergers, compared to 59 in 2022-23 and 50 in 2021-22. By contrast, 115 were involved in mergers in 2020-21 and 84 in 2019-20
The higher number of larger organisations involved in mergers has caused a notable increase in the total size of the organisations involved in mergers to £1,030 million, a rise of £547 million on the previous year. This is a 113% increase in total value over 2022-23 to 2023-24 (on a 31% increase in the number of mergers).

Number of England and Wales charity organisations involved in merger 2013 to 2023 by size

Note: Financial data is from the year prior to the charity merger and for mergers which were completed by 30^th April 2024.

Download previous Good Merger Index Reports here.

References:

At the time of writing, there are c170,700 main charities and c14,000 linked charities in England and Wales.

Download the latest Charity Good Merger Index

Charity Merger Research (The Latest Good Merger Index)

This report is our latest research and review of the charity mergers that took place in 2023 to 2024. We found that the number of charity mergers surges by 31% and overall deal value by 500% as organizations face growing demands, rising costs, and explore opportunities for sustainable growth.

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