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Peter McVerry Trust in Financial Turmoil | Cork News
The Peter McVerry Trust, a key homelessness charity, is navigating serious financial turbulence after posting a €1.36 million loss in 2024 — despite a prior €15 million government bailout. A €4 million property write-down, weak governance, and crumbling financial controls have rattled funders and regulators, creating “material uncertainty” about its future. Yet, trustees remain defiant, citing a sharp drop in losses thanks to strategic pivots, a healthy €11.1 million cash reserve, and progress on transferring assets to local authorities — even if slower than hoped. Fundraising plummeted 65%…
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