Charities merge to push forward payroll giving
30 November 2004
Sharing the Caring, the wholly owned subsidiary of Help the Aged, is merging with the Charities Aid Foundation, in a move that will increase the flow of funds from payroll giving to charities.
The merger is expected to be completed by the end of 2004. The merger will bring together Sharing the Caring, the UK's leading promoter of payroll giving to employees, with the Charities Aid Foundation, the UK's leading provider of agency services through its Give As You Earn scheme. The aim is to increase payroll giving for the charity sector as a whole by growing take up within existing companies, attracting new employers, and responding to the Chancellor's commitment to extend payroll giving to small and medium-sized companies.
A key goal of the new venture will be to engage more charities so that they too can benefit from the stability that regular income from payroll giving provides. The move will provide a full, one-stop-shop service under the Charities Aid Foundation covering promotion of payroll giving, collection and distribution of donations, and complete end-to-end relationship management for companies and charities. It will also provide an ideal platform from which to develop further the market for payroll giving; will shorten communication channels between all parties - including beneficiaries; and will result in more efficient and cost effective processing.
In short, it will create a unique payroll giving service for the UK.
Total payroll giving in the UK has grown from £37m in 1999/00 to around £91m in 2003/04. Growth prospects are good, as many large companies do not yet have payroll giving, and few small and medium sized enterprises offer this to their employees. Sharing the Caring works with many corporate clients, and is responsible for raising around £6 million each year for many UK registered charities. Its reputation and ethical approach have set high standards and confidence in payroll giving. CAF is committed to tax efficient giving, working on behalf of charities, companies and individual donors. Long the champion of payroll giving development in the UK, it currently channels £60 million per annum in payroll donations to thousands of charities (over three quarters of the total value).
Website:
www.cafonline.org.uk
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