New not-for-profit online fundraising engine from Virgin Money raises more for charities
25 August 2009
Virgin Money Giving, a new not-for-profit online fund-raising service has opened its doors for charities, ahead of its full launch to fundraisers.
From 25 August charities will be able to publish their own pages on the site by visiting virginmoneygiving.com and registering. Once registered, charities will be able to customise their pages in their own brand colours, promote them to supporters, send out email alerts and manage their fundraising events.
As a not-for-profit business, Virgin Money Giving will only look to cover its costs, through a 2% transaction fee on donations and a one-off £100 set-up fee for charities. No charge will be made on administering Gift Aid. As a result Virgin Money Giving will cut the cost to charities of raising money online by up to 60%.
Announcing the launch, Richard Branson said: “The past two years have been extraordinarily challenging for everyone, not least charities. With donation levels under pressure I’m delighted that Virgin Money are getting involved to launch Virgin Money Giving.
“As a not-for-profit business, charities can be confident that Virgin Money Giving’s fees are as low as we can possibly make them so they receive the maximum amount possible from every donation. Through Virgin Money Giving, for every £100m raised, more than £5m extra will find its way to the intended causes.
“Virgin Money Giving is a great example of business working in partnership with the third sector to create new ways of doing things where everyone is better off”.
Joanna Barnett, Executive Director of Virgin Money Giving, said: “We are delighted to be able to launch the service to charities. We’ve listened to charities at every stage of building the website and the feedback we’ve had so far has been fantastic. ”Online giving is a sector we believe should grow dramatically in the coming years and we’re excited about driving that growth.”
Toni Fry, National Running and Challenge Events Manager, at CLIC Sargent, said: “The new Virgin Money Giving site is a fast, easy and clever way to raise money. CLIC Sargent depends almost entirely on voluntary donations from the public and with the help of virginmoneygiving.com more money will be going directly to help the children and families who need us.
"As the official race charity for the Virgin London Marathon 2010, CLIC Sargent wants to make it the best ever experience for our runners. The more enjoyable their fundraising experience can be, the more our supporters will fundraise on our behalf.”
Virgin Money Giving, who are the official sponsorship website of the Virgin London Marathon, Royal Parks Half Marathon and Sony ‘Run to the Beat’, will never make a penny in profit. Any surplus made in the future will be used to either improve the services provided to charities or reduce fees further.
As well as cutting costs and increasing the amount of money that finds its way to good causes, Virgin Money Giving will also provide detailed reporting functionality. Charities will have the opportunity to view fundraiser and donor data through standard or customisable reports, enabling them to understand the profile of the people supporting them and enhance their own fundraising campaigns.
Virgin Money Giving is providing charities the opportunity to setup their pages on the website before opening the doors to fundraisers. The launch date to fundraisers will be announced shortly.
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About Virgin Money
Virgin Money is Virgin's financial services arm and was established in 1995.
Virgin Money has over two million customers and offers a wide range of financial products across lending (e.g. credit cards), savings (e.g. deposits, investments and pensions) and protection (e.g. household and car insurance) to the UK market.
For more information, please visit Virgin Money
About the Virgin London Marathon
Virgin has signed a five-year deal to be the official sponsor of the London Marathon, the biggest annual fundraising event in the world. The inaugural Virgin London Marathon is on the 25 April 2010. Virgin Money, the financial services division of the Virgin Group is leading the London Marathon sponsorship with the ambition to help runners raise £¼ billion over 5 years and will use its infrastructure, online capability and financial expertise to deliver that through Virgin Money Giving.
For more information, please visit Virgin London Marathon
Virgin Money Giving Limited, Company No. 0273 3492