Lucinda and Russ are joined by the Charity Finance Group’s chief executive, Caron Bradshaw, and special adviser, Pesh Framjee, to talk about how charities can effectively manage their financial reserves in times of stress.Caron maintains that reserves are there to be used, rather than protected, to enable charities to continue fulfilling their mission during periods of financial difficulty. She stresses there is no one-size-fits-all approach when it comes to optimal reserve levels, which should be decided based on an organisation’s individual risk profile.Pesh explains the difference between unrestricted, restricted and designated reserves. He advises organisations to be open and transparent about expenditure to their supporters and stresses the need to communicate strongly about overhead expenditure requirements. Charity Changed My Life features the story of Bobby Bansal, who received invaluable information and support from Movember following two testicular cancer diagnoses.Do you have stories of people whose lives have been transformed for the better thanks to your charity? If so, we’d like to hear them! Click here to record a voice message like Bobby’s, or email lucinda.rouse@haymarket.com for additional guidance.Tell us what you think of the Third Sector podcast! Please take five minutes to let us know how we can bring you the most relevant, useful content. To fill in the survey, click here. Hosted on Acast. See acast.com/privacy for more information.