By Elliot Green
21 Apr 17
Yes, you heard right, an estimated £1.25 million is absorbed by one of the UKs most popular fundraising platforms during the London Marathon
Back in 2015, thousands of highly determined runners at the London Marathon generated £54.1 million for charity. It’s a tremendous amount of money that makes a huge difference in so many ways, and this Sunday’s event is expected to generate an even higher total. However, a significant proportion of that raised is donated through online giving platforms, and many of these platforms take a cut from donations. These cuts most often come in the form of flat fees and card processing charges, and can mean that charities are losing out on huge sums.
One of the most used fundraising platforms for the London marathon is JustGiving, and in 2015 it was responsible for 20 million pounds worth of fundraising. But JustGiving’s fees mean around 7% of every single donation is absorbed, which in 2015 would have equated to around £1.25 million. Yes, you heard right, an estimated 1.25 million pounds is absorbed by one of the UK’s most popular fundraising platforms during the London Marathon, and this is just for one key event in the calendar. This money doesn’t reach the charities.
The marathon’s official platform, Virgin Money Giving, is expected to generate even more funds than JustGiving, and although it’s a non-profit organisation, it still takes a cut from donations to cover its costs. But thankfully, there are excellent alternatives available to runners, who really can ensure 100 per cent of the proceeds go directly to charity. With the help of corporate sponsors, Wonderful waivers the charges associated with online donations, which include card-processing fees, and promises that Gift Aid will be paid in full to charities rather than covering business costs.
“An estimated 50,000 runners will be taking part in the London Marathon on Sunday and it’s important that their hard work is recognised and that all of the money they’ve raised goes to the intended cause. Given recent advances in both technology and online behaviour, processing fees up to 7% are a high price for charities to pay. In the context of huge fundraising events like the London Marathon, the scope to raise additional funds, simply by switching fundraising platforms, is hard to ignore.” - Kieron James, Wonderful Head Honcho
Wonderful was launched in January, as part of a continued effort to make millions of pounds more available to charities, and we quickly attracted national organisations such as Cancer Research and Mind. With Wonderful, charities receive every penny from donations and 100% of Gift Aid is claimable for all eligible donations. We charge nothing at all, and through the generosity of corporate sponsors we cover all debit and credit card transaction fees. We are a non-profit organisation run by volunteers and funded entirely by like-minded, philanthropic businesses.
“If the tens of thousands of runners taking part in this weekend’s London Marathon used Wonderful for their fundraising campaigns, it’s reasonable to assume that upwards of £1.5 million could be passed through as an added bonus to charities, and we think that’s reason enough to shout about!” - Elliot Green, Wonderful Marketing Manager