The Big Give to create £3m matched fund to spur further £3m in donations
Online giving site TheBigGive.org.uk is creating a £3 million matched fund over the summer to stimulate donations of £3 million from charity supporters in December.
The Reed Foundation, which funded the website's creation, is sponsoring the matched fund, and has pledged an initial £1 million to be spread across competing charities. The Big Give hopes that trustees and major donors from those charities will provide the remaining £2 million for the fund.
The matched fund, which The Big Give claims will be "the largest ever online matched fund", is being created in order to stimulate giving in the economic downturn.
Alec Reed CBE, Chairman of the Reed Foundation, said: "It is a tough time for charities. This challenge gives professional fundraisers a tool to approach their trustees and supporters for a further donation."
The Big Give has raised £2.4 million through online matched funding in the last 6 months. Last year, a similar matched funding challenge raised £2 million for charity in just 45 minutes.
This year's fund will be released over several
days, allowing donors more chance to double donations to their charity.
Charities already involved in the 2009 challenge include the National Trust, WWF and the Royal Opera House. To apply to take part charities must login to their account on The Big Give by 27 June 2009.
The Reed Foundation will then select around 250 charities to participate in this year's challenge.
The matched fund challenge for donors and trustees will take place from 7 - 11 December 2009.
Jon Brooks, Managing Director of the Big Give, said: "The Big Give introduces high-level donors to exciting new charity projects. Our highest
single donation so far is £175,000 to a small charity that the donor found on theBigGive.org.uk. We hope to inspire many more philanthropists to give intelligently."
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Big Give matched fund increases by £1m
Alec Reed has now pledged an extra £1 million to the matched giving challenge in response to over £5 million worth of charity applications.
The scheme, which aimed to raise £6 million the end of the year, could now raise as much as £12 million for charity.
Reed is teaming up with trustees of 250 charities to create a multi-million pound matched fund. The pot will offer charity supporters the chance to double their donation this December if they donate through theBigGive.org.uk.
The Big Give claim that, even before the aditional £1 million, the scheme was "the largest online matched fund".
Howard Lake @howardlake www.fundraising.co.uk
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