2020 ANNUAL REPORT AND FINANCIAL STATEMENTS PAGE.2 MSI REPRODUCTIVE CHOICES FINANCIAL STATEMENTS & ANNUAL REPORT 2020 2020 IN NUMBERS WE ESTIMATE THAT IN 2020, OUR ESTIMATED IMPACT OUR SERVICES RESULTED IN 1 : WAS ACHIEVED THROUGH: 32.6M 12.8M people using contraception provided by MSI client visits 13.4M 32.7M unintended pregnancies averted CYPs2 5.6M BY 9,000+ unsafe abortions averted team members 35,000 ACROSS 37 maternal deaths prevented countries PAGE.2 MSI REPRODUCTIVE CHOICES FINANCIAL STATEMENTS & ANNUAL REPORT 2020 OVER THE PAST FIVE YEARS, WE HAVE SERVED: 66.4M clients with core services PREVENTING unintended 60.3M pregnancies unsafe 30M abortions maternal If these 154,000 deaths 66.4M clients had not been reached, it is estimated that maternal mortality would be over 1Our impact figures 10% HIGHER The impact figures shown in this document have been calculated using Impact 2, our innovative sociodemographic mathematical model that allows us to estimate the impact of our work, and the wider social and economic benefits of offering access to contraception collectively across the and safe abortion. You can find out more about Impact 2 on our website: https://www.msichoices.org/what-we-do/our-approach/our-technical-expertise/impact-2/ countries in which 2Couple years of protection (CYP) is one of our key service metrics which estimates the protection from pregnancy provided by contraceptive methods during a one-year period. Different methods we work. of contraception have different CYP values which depend on how long they can be used for, the likelihood of wastage, and how effectively they prevent pregnancy. For instance, 120 condoms are needed to provide one CYP, while a five-year IUD provides 3.3 CYPs. For a more detailed explanation of CYPs please visit: https://www.msichoices.org/media/4095/msi-cyp-infographic.pdf PAGE.4 MSI REPRODUCTIVE CHOICES FINANCIAL STATEMENTS & ANNUAL REPORT 2020 CHARITY DETAILS Registered name and charity number MSI Reproductive Choices 265543 (registered in England and Wales) Company number 1102208 (registered in England and Wales) Registered office 1 Conway Street Fitzroy Square London W1T 6LP Board of Trustees The Trustees of MSI Reproductive Choices are the charity’s Trustees under charity law, and the Directors of the charitable company. Trustees Glenda Burkhart, Chair (appointed 6 March 2020) Timothy M Rutter FRCS, Chair (resigned 6 March 2020) Dr Mohsina Bilgrami Frank Braeken Fiona Duby Philip D Harvey Claire Emma Morris Dr Kristin-Anne Rutter Jess Search Chief Executive Officer Simon Cooke Independent Auditors PricewaterhouseCoopers LLP 1 Embankment Place London WC2N 6RH Principal bankers Standard Chartered Bank Plc 1 Aldermanbury Square London EC2V 7SB Barclays Bank Plc 1 Churchill Place London E14 5HP PAGE.4 MSI REPRODUCTIVE CHOICES FINANCIAL STATEMENTS & ANNUAL REPORT 2020 CONTENTS 2020 IN NUMBERS 2 CHARITY DETAILS 4 TABLE OF CONTENTS 5 MESSAGE FROM THE CHAIR OF THE BOARD 6 MESSAGE FROM OUR CEO 8 TRUSTEES’ REPORT 10 ABOUT US 11 LOOKING BACK 14 LOOKING FORWARD 37 STRUCTURE, GOVERNANCE AND MANAGEMENT 40 FINANCIAL PERFORMANCE 52 STATEMENT OF TRUSTEES’ RESPONSIBILITIES 55 INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS OF MSI REPRODUCTIVE CHOICES 56 CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES 62 GROUP AND COMPANY BALANCE SHEETS 63 CONSOLIDATED CASHFLOW STATEMENT 64 NOTES TO THE FINANCIAL STATEMENTS 65 PAGE.6 MSI REPRODUCTIVE CHOICES FINANCIAL STATEMENTS & ANNUAL REPORT 2020 MESSAGE FROM THE CHAIR OF THE BOARD 2020 has been a challenging and Over the past 12 months I have worked more closely with the Board and Executive Team than I would in any normal year unusual year for all of us and taking and been inspired again and again by the extraordinary can-do on the role of MSI’s Chair at the attitude. In a year like no other, MSI reached 35,000 people every day, from Afghanistan to Zimbabwe, with life-saving sexual and beginning of the global pandemic reproductive healthcare. Instead of faltering in the face of has certainly been a steep learning adversity, the whole organisation has innovated, partnered, and adapted to get services directly into the hands of women and curve. However, I will always girls wherever and whenever they are needed. be grateful for the wonderful For MSI, 2020 was also pivotal because it was the year that we opportunity it has given me to launched our strategy MSI 2030: Your Body, Your Choice, Your Future. Our mission is never going to change but the challenges get to know MSI at a deeper level. we face will. The COVID-19 pandemic has disrupted access to contraception and abortion services, and donor budgets and priorities have shifted. These are significant challenges that require a bold response and we are committed to transforming ourselves to better address them. MSI is a global organisation founded on the principle of strong country leadership and rooted in the communities where we work. That is in our DNA. Looking ahead we want to drive that agenda even further. A key part of our strategy for the next ten years is shifting the organisational centre of gravity back to the countries where we operate and further develop our female leadership. PAGE.6 MSI REPRODUCTIVE CHOICES FINANCIAL STATEMENTS & ANNUAL REPORT 2020 MESSAGE FROM THE CHAIR OF MSI IS A GLOBAL ORGANISATION FOUNDED ON THE PRINCIPLE OF STRONG COUNTRY LEADERSHIP AND ROOTED IN THE COMMUNITIES THE BOARD WHERE WE WORK I have been so impressed to see these goals reflected in everyone’s drive to play their part in ensuring that diversity, equity and inclusion are central to everything we do. The work that MSI does is extraordinary and so very important: keeping girls in school, supporting women to work outside the home and saving lives. One statistic that always stays with me is that in Niger, one in two girls will give birth before their 18th birthday, while only one in 100 will finish secondary school. This needs to change. I care passionately about helping women and girls and can honestly say it is an honour to be a part of this team that is changing so many lives for the better. I have only been part of MSI’s story for 12 months, but this organisation has a way of getting under your skin. As I look ahead to the next decade I do so with real optimism that together we will achieve our ambition of making reproductive choice a reality for all. Glenda Burkhart Chair of the Board PAGE.8 MSI REPRODUCTIVE CHOICES FINANCIAL STATEMENTS & ANNUAL REPORT 2020 CEO STATEMENT 2020 will go down in all of our memories as an extraordinary year. For MSI it opened full of hope: a new decade; a bold new strategy in the making. The performance of our teams in those first weeks and months had us on track to achieve the ambitious goals set out in our previous five-year strategy. And then – along with the rest of the world – COVID-19 stopped us in our tracks. PAGE.8 MSI REPRODUCTIVE CHOICES FINANCIAL STATEMENTS & ANNUAL REPORT 2020 Projections for the impact of COVID-19 on MSI’s services were The change reflects our fundamental and unwavering quite simply devastating. Worst-case scenarios showed that up commitment to choice, whilst recognising that Marie Stopes to 80% of our services could be disrupted, with up to 9.5 million the woman, herself a family planning pioneer and after whom women losing access. But far from deflating our teams, those the organisation was originally named, held some views which projections spurred them on and inspired a response that was are diametrically opposed to those of the organisation and our nothing short of heroic. founding principles. While 2020 will forever be associated with the global pandemic, At the heart of our new strategy is the ambition to make for me, the year will always be characterised by incredible stories reproductive choice a reality for all; a pledge predicated on of resilience: our team member who, while in lockdown in partnership. Whilst we were heartened by Joe Biden’s victory in Wuhan, China, helped to secure our global supply chain for vital November, and the potential for the resumption of partnership personal protective equipment (PPE); the speed with which our with the US, it came in the same month as the UK government UK programme implemented telemedicine consultations, amidst announced its intention to roll back on its legal commitment to relentless challenges from UK anti-choice groups; and when spend 0.7% of gross national income on overseas development women were stuck at home under lockdown in East and Southern assistance, a decision that will have significant implications for Africa, our programmes brought healthcare to their doorsteps, via the funding of sexual and reproductive health and rights (SRHR) our mobile bus clinics in Madagascar and a ride-hailing motor-taxi – and crucially women’s access – globally. With cuts of up to 85% app in Uganda. These actions – and many, many more – were recently announced, much of the progress made in the last ten truly awe-inspiring. And as a result, we were able to protect the years could be undone if these gaps remain unfilled. majority of our services, reaching almost as many women as we Having spent four years fighting to mitigate the repercussions did in 2019. Remarkably, our East and Southern Africa, and West of Trump’s Global Gag Rule, it’s a further reminder of the and Central Africa teams even managed to exceed their ingoing challenges we have with our current funding structures. We 2020 business plans! passionately believe that choice cannot be given and then taken While there is no doubt that 2020 was a year of suffering and away, that women’s access to life-changing and life-saving CEO services must not be impacted by trends in donor funding or the hardship, it was also a catalyst for innovation and change.