Charity suffers loss in income
OXFAM says it is an international confederation of 20 organisations working with partners and local communities in more than 90 countries.
The group was formed in 1995 by a group of independent non-governmental organisations. The aim was to work together for greater impact on the international stage to reduce poverty and injustice.
Oxfam’s financial statements show that in the 2016-17 financial year, total income from all sources was lower by £6.1m (R100m) than in 2015-16, at £408.6m. Income from grants and contracts from governmental and multilateral organisations fell by 5% in this period.
According to Oxfam’s website, the money donated is used to “address people facing hunger, poverty and injustice”.
International media reports show that the charity “paid seven of its most senior bosses a combined £700000 plus benefits such as contributions towards private school fees for up to three children. It has also subsidised the personal tax bills of some highly paid executives,” – TNA Reporter