The Jewish Leadership Council is to review whether to hold the Chanukah in the Square rally in Trafalgar Square in future after it cost more than expected in 2019.

It would have been “unlikely” to go ahead this winter anyway because of Covid restrictions, the charity said in its newly published accounts for 2019.

But its viability had been under question after last year’s event, which cost over £89,000 and made a loss of £25,000.

The charity’s income of £2,514,801 was around £955,000 lower than in 2018, while its £2,562,076 expenditure was down by around £750,000. It recorded a deficit of £47,275, leaving net assets of £47,555.

It had incurred “significant, unbudgeted and unforeseen” expenditure in 2019 in the final stage of the independent review into “historical allegations” against former chief executive Jeremy Newmark and trustees.

But as a result of that, and an assessment into governance structures, the JLC had now developed a “best-in-class governance structure that we are able to share with other communal organisations”.

The independent review had cost more than £250,000 across 2018 and 2019 and while an insurance claim had been partially satisfied this year, a further claim remained outstanding.

Income was largely higher in 2018 because of £400,000 raised to celebrate Israel’s 70th anniversary and the donation of professional services worth £300,000.

Around 11 per cent of income comes from subscriptions from the JLC’s 37 member organisations.

A funding drive, which had secured £1.2 million in donations from 46 individuals and organisations in 2019, had enabled it to move to a “more robust and balanced funding basis”.

The number of employees dropped from 26 in 2018 to 23. The highest paid staff member was in the £170,000-£179,999 pay bracket and another employee earned between £130,000-£140,000.

Chief executive Simon Johnson stepped down earlier this year but remains as a consultant until the end of 2020.

In the wake of the Covid-19 crisis, the organisation cut £250,000 from its budget this year.

An emergency fund raised more than £2 million, benefiting 235 families and 28 organisations.

JLC believes its collaborative work on social care in 2019 “created the conditions” for the three largest residential elderly care providers to launch a joint appeal this spring in response to the pandemic.

Commenting on the accounts, JLC chairman Jonathan Goldstein said: “The JLC’s unique position in our community to enable partnership working and best practice will help our community recover. We hope to see communal institutions emerge with greater confidence and more effective co-operation.”