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.
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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.
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.