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Charities exploit interim management specialists
The value for money offered by interim management specialists has been significantly exploited by the UK's charity regulator over the past decade.
That is according to figures obtained by Charity News Alert, which revealed that the Charity Commission has appointed interim executives at 35 not-for-profit companies in the past ten years in an effort to safeguard £40.8 million of charitable money.
Six transitional executives are still occupying positions within a number of charities, including Cancer Care Foundation, Relief for Distressed Children and Young People and Brent Education and Recreation Support Youth Challenge, Charity Finance reported.
In total the fees related to the recruitment and employment of these interim executives has reached £1.9 million.
The Charity Commission disclosed that it appoints interim managers on a circumstantial basis when their abilities are warranted, the news provider revealed.
According to a report released by the organisation in June 2009, interims are usually hired in a two-tier tender process that searches for executives with "the right skills and experience at a cost that will provide the charity with value for money".
Categories: Central Government