Published: 14:13 EST, 12 December 2015 | Updated: 14:46 EST, 6 March 2016. Much of their money went to pay executives and professional fundraisers. If giving to charity was on your agenda over the festive season, you may wonder how much of your donation ended up going to your worthy cause. Costs at the Irish Heart Foundation eat away up to 36 cent of every €1 donated. The True and Fair Foundation analysed data on 5,543 charities - with a combined annual income of £40.7billion - to discover 'how much of their income was spent on the end charitable activities'. The median working capital ratio among these charities is much, much greater than the median reported for among the rest of the charities rated by Charity Navigator. The Charity Commission agreed that the analysis was 'flawed'. The Trocaire charity puts 91 cent of every €1 donated towards its charitable work. 'It doesn’t take in to account the variety of ways in which charities are structured which inevitably affects how much they need to spend to generate their income. Masterson, however, says imposing a threshold might be a “blunt instrument”. It described the study as 'misleading in its analysis'. Charities that run shops can also face higher fundraising costs. A 2013 study of charities by the Tampa Bay Times, Center for Investigative Reporting and CNN found that America’s 50 worst charities raised close to $1 billion over the course of a decade and spent approximately 49 million, or less than 5 percent, on charitable activities. Welcome to Level Five: what does it all mean? The Association of Chief Executives of Voluntary Organisations also criticised the True and Fair Foundation's report, accusing it of excluding campaigning in its description of 'charitable activity'. Sir Stephen Bubb, Chief Executive of ACEVO, said: 'It is bizarre that people who worked in the sophisticated world of finance have overlooked the lesson of the Kids Company collapse. A British Heart Foundation spokesman added: 'We would strongly dispute that this report is evidence of financial inefficiencies or poor governance within charities. The True and Fair Foundation concludes its 'A Hornets' Nest' report by declaring that trust in the charity sector 'is being eroded as light is shone on negative practices', and that charities have to ' evolve and be transparent so donors can be confident that they have a right to be supported'. The report claims that Cancer Research UK and The Guide Dogs For The Blind Association - two of the UK's biggest charities - spend 64 per cent of their respective incomes on charitable activities. It looked at figures from the Charity Commission's websites in relation to each organisation. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. Many charities turn to other, often more expensive forms of fundraising, such as direct marketing (which typically cost 42 cent of every euro), corporate donations (25 cent), and community fundraising (35 cent). Many charities disputed the figures in the report - released today by the True and Fair Foundation - deeming them 'totally misleading'. Just 66 cent of every €1 donated to the National Council for the Blind in Ireland goes straight to its work. As far as she is concerned, it’s an unnecessary expense. 'Yet these are the lifeblood of the great British charitable tradition. During 2014/15, Age UK raised income of £90.1million (fundraising income, charity income and commercial profits) from which we spent £84million on charitable activity.'. Edmunds has a bachelor's degree in journalism. Meanwhile, Marie Carie was found to give just one per cent more of its donations - at 65 per cent. 'Namely, that to spend every penny on the frontline and neglect other essential spending leads inevitably to the collapse of the frontline with tragic consequences. Its 'A Hornets' Nest' report, first seen by The Telegraph, claims that 17 'large charities' with a £50million or higher annual income spend an average of just 43 per cent on good work. The results reveal a broad range of practices. A third of each donation is spent on fundraising costs (much of these associated with its chain of charity shops). ', Charities' minister: Rob Wilson said last night that voluntary organisations need to 'reassure people and make very clear that the money donated to them will be spent on frontline charitable activities'.
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