U.K. Charity Drops Lavish Gala in Favor of Small Events

The children’s nonprofit behind one of London’s most opulent charity galas has shelved the event, opting instead to hold multiple small fundraising efforts, Reuters reports.

The ARK (Absolute Return for Kids) Gala Dinner, first held in 2002, was an annual social highlight for London’s financial industry, raising as much as $41-million in a night for projects ranging from training health workers in Zimbabwe to running U.K. schools. Speakers have included Bill Clinton and Jordan’s Queen Rania, and Prince and Elton John have performed at the event.

The dinner’s fundraising take has dropped significantly in recent years. A spokeswoman for the ARK, which was founded by hedge-fund chief Arpad Busson, said the charity wants to have “a variety of means of communicating” with contributors.

“More and more of the donors are coming to us interested in particular programs,” she said. “At the dinner, conversations [about projects] are not as detailed.”