“In recent months, Beyond Blue has seen a decline in both new donors and in fundraising drives where people seek donations from friends and family, but at this stage we can’t be sure what’s causing this,” the spokesperson said.

Supermarket bosses and the manufacturers of many major food products have warned shoppers to brace for rising costs in the coming months, with some concerns it could be more than 12 months before inflationary pressures start to ease off.

To prepare for this, some charities have turned to other avenues as a source of revenue. This week, TLC for Kids announced it would start accepting donations in cryptocurrency, with Mr Conolan saying he was hopeful the move might bring in some cash from crypto investors who had seen success as Bitcoin and other digital currencies skyrocketed in price over the pandemic.

“We thought instead of going to the same pool of people let’s try and broaden our audience,” he said. “Plus if you’ve been dealing in crypto, some of those people have done really well, and they’re more than likely not feeling the same pinch as regular donors.”

Similarly, Make-a-Wish has been forced to think about fundraising differently, Ms Bateman said, with traditional donation drives such as sausage sizzles and gala balls declining by 20 per cent through the pandemic. This has prompted the charity to partner with corporates such as Hungry Jacks via its Wishmaker program, which raised $1.36 million last year.

“With the cost of living on the rise, we need to keep being innovative and working collaboratively with our corporate partners to find new ways to reach the community, and to grant wishes,” she said.

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