Virgin Money, the financial services arm of the Virgin Group has launched ‘Virgin Money Giving’, an independent not-for-profit organization designed to facilitate widespread UK fundraising and help charities receive more of their charitable donations.
Over £100m was raised through online giving in 2007 and is expected to be even higher in 2008 and beyond because of the many benefits it affords charities, fundraisers and sponsors. Virgin Money Giving will help charities take advantage of the growth in online fundraising by making sure they get more of the money raised.
According to Sir Richard Branson, “We’re delighted to announce that in 2009 we are launching Virgin Money Giving – a not-for-profit charity donation and sponsorship website. The plan is to challenge the status-quo in online giving, so your fundraisers generate the maximum possible from their efforts and good causes benefit from increased revenue and support.”
Unlike established providers in the online giving market who charge a fee on both the donation and Gift Aid, Virgin Money Giving will charge a significantly lower fee on the donation and no charges on Gift Aid. It will be run on a not-for-profit basis and will cover the running costs only, meaning the maximum amount possible reaches the charities themselves.
tip to: Celina Ribeiro