Foreign exchange & the INGO sector
Issues faced by charities
Typically, charities do not receive the most competitive exchange rates nor an impartial platform to explore risk mitigation products.
Evidence of this was identified around 10 years ago by the Missing Millions report, published by Stamp Out Poverty. They identified potential sector-wide savings of £20 - 50 million each year if charities introduced competitive tender and improved procurement processes when dealing with their FX exposures.
Since then, with an increase in sector funding and only some developments in NGO finance, we believe this potential saving to be greater than ever.
Our new approach
In response, Charitytransfers.org puts the Audere expertise, system infrastructure and technology in the hands of non-profits so that ultimately more money is delivered where it is needed.
Key stats
>£2.7m
Increased annual impact
+65
INGO clients & counting
41%
Average cost savings FY19/20
£298'000
FY20/21 CSR budget
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