The biggest fall in fundraising income was seen at the Tate group of galleries, where the level fell last year by £18.1m (26%) to £51.6m, its lowest since 2011/12. A spokesperson for the gallery group said that the higher levels of income seen several years ago include large amounts of capital raised for the new Tate Modern extension, which opened in 2016, as well as for the expansion of Tate St Ives, which opened last year.