Greenpeace loses millions on bad currency bet

Locutus

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Jun 18, 2007
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This Is Awkward

Greenpeace loses millions in donor contributions;

The Amsterdam-based not-for-profit revealed on Monday that it lost €3.8-million ($5.6-million), after a well-meaning employee entered into a contract intended to minimize foreign currency exchange costs, which instead turned into a big loss. [...]



The loss is being publicized ahead of Greenpeace's 2013 annual report, which will show the organization is running a deficit of €6.8-million, including the mishandled currency trade. The group's global budget last year was €300-million.

The loss is a blow to the Greenpeace brand. The organization took to social media to connect with devotees and apologize for the process failures that led to the loss. Since Greenpeace doesn't accept donations from governments or companies in an effort to maintain its integrity, contributions from individual contributors are paramount.

Small Dead Animals
 

taxslave

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Nov 25, 2008
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What is a non profit doing speculating in the marketplace? That little gem itself should be reason enough to revoke their non tax status.