Cutbacks at charity leads to turnaround in finances

A series of costcutting measures at Age Action Ireland, including a 5% pay cut and two weeks’ unpaid leave for all staff, helped towards turning around the organisation’s finances last year.

Figures show that Age Action Ireland, which provided services to 32,000 elderly people last year, recorded a surplus of €231,536 in 2011 following a loss of €671,783 in 2010 — a positive swing of €903,319.

Along with the cost-cutting measures, which included a pensions holiday for 2011, an increase in donations from €178,015 to €218,222 also helped to bring the organisation back into the black.