theBigGive.org.uk will create a £3m matched fund over the summer to attract a further £3m from charity supporters this December.
The Reed Foundation are sponsoring the matched fund, pledging an initial £1 million to be spread across competing charities. Trustees and major donors from those charities will provide the remaining £2m for the fund.
Last year, a similar matched funding challenge raised £2 million for charity in an astonishing 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. Charities have until 27th June to apply by logging in to their account on theBigGive.org.uk. The Reed Foundation will select around 250 charities to participate in this year’s challenge.
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.”
Jon Brooks, Managing Director of theBigGive.org.uk, said: “The Big Give introduces high-level donors to exciting new charity projects. Our highest single donation so far is £175k to a small charity that the donor found on theBigGive.org.uk. We hope to inspire many more philanthropists to give intelligently.”
A trustee of a small charity, discussing matched funding on theBigGive.org.uk, said: “The overall impact is tremendous – it has galvanised existing supporters, brought in more, and helped us improve our own marketing and fundraising techniques. We are delighted!”
More information on the scheme can be found at: http://www.thebiggive.org.uk/millionmatch/