A group of charities received an average of £1m for each in-memory fundraiser they employed, new data shows.

The legacy giving consultancy Legacy Futures’ In-Memory Insight programme 2022/23, which concluded in September, showed that in-memory fundraisers brought in an average of £26 for every £1 spent on them.

The consultancy said its research showed the legacy market had seen “significant growth” and fundraising opportunities.

Data provided by Legacy Futures’ consortium of 48 UK charities showed that although the market had grown, charity investment in in-memory fundraising remained low, accounting for only 0.1 per cent of fundraised income.

“Despite the low levels of investment, in-memory now represents 2.2 per cent of fundraised income and 1.5 per cent of total income,” Legacy Futures said.

Anna Turner, head of research and insight at Legacy Futures, said: “The most recent research really underscored the importance of religion and cultural traditions as a driver of in-memory giving, with numerous respondents referring to their own, or their loved one’s, faith.

“Charities that were sensitive to this seemed to benefit from in-memory donations that might otherwise have been directed elsewhere.”

The 2024/25 In-Memory Insight programme is open for charities to register their participation.

The study’s focus will be in-memory giving in multicultural Britain, a topic informed by the latest programme’s findings. 

Turner said: “What is clear through our insight work is that bereaved supporters are constantly seeking different ways to remember and celebrate their loved ones.

“We uncovered a wide range of products already being offered by charities to answer this need, but our research also showed that there is plenty of headroom for charities to offer an even greater range of in-memory products to cater for an increasingly diverse audience.”