Unlikely. Far, far more likely, according to a friend who is very senior in the British Red Cross, when I asked her about how they use their money, is one of two scenarios:
1) They misreported how much they collected. Apparently they regularly say they've collected more than they have in order to encourage people to give yet more, and to appear to be "the big magnet charity".
2) They've lost it. This apparently happens with alarming frequency - money just kinda vanishes, and they find themselves deployed to some godforsaken corner of the planet with inadequate materials and funding, end up coming back, spend a month waiting back in blighty, go out there, still nothing ready, fly back... oh, we spent all the money on flights and meetings and figuring out how to spend the money.
1) They misreported how much they collected. Apparently they regularly say they've collected more than they have in order to encourage people to give yet more, and to appear to be "the big magnet charity".
2) They've lost it. This apparently happens with alarming frequency - money just kinda vanishes, and they find themselves deployed to some godforsaken corner of the planet with inadequate materials and funding, end up coming back, spend a month waiting back in blighty, go out there, still nothing ready, fly back... oh, we spent all the money on flights and meetings and figuring out how to spend the money.