First index-linked payroll giving scheme from Charities Trust
Howard Lake | 1 December 2006 | News
Charities Trust is introducing ‘The Xtra Factor’ to its payroll giving scheme through which employees will be able to increase their payments by a small amount each year.
The idea is being introduced at Home Retail Group – parent company of Argos and Homebase – with the first annual increase of three per cent coming into effect in June 2007. The percentage is a ‘suggested’ amount, but donors can choose their own level of increase. This is designed to counter the often static donations given via payroll giving. Many payroll giving relationships are long-standing and once they are set up, often not amended.
Charities Trust sales and marketing manager Jason Doherty said: In 2005 payroll giving donations in the UK reached almost £100m. If every donor signed up to payroll giving and agreed just a small nominal increase of three per cent, for example, Th Xtra Factor would deliver a staggering £3m additional revenue for chariites and good causes.
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About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.