This month, the leadership team of thebiggive.org.uk agreed a big new goal for the charity, to raise £1 billion for good causes.
The match funding site, which was established in 2007, has already raised £83,535,476 to the benefit of thousands of different charitable organisations. This ambitious new goal will be achieved through maximizing the leverage opportunities offered by “matched funding” and through further investment in what I like to call “PhilTech” or philanthropy technology.
The Big Give offers charities a super potent method for raising money. This is because it gives generous philanthropists the opportunity to turn a £1 donation into a £4 donation. Currently, if a philanthropist or “Champion” as we call them wishes to support charities operating in a certain sector such as health, education or the arts and wishes to make a six figure contribution, then the charities are tasked with finding high net worth supporters to match a portion of it. The combined sum is then available as matched funding so that when the charities announce their appeals, donors visiting the site will have funds available to match their donations. When the donor makes their gift, it is immediately doubled. The effect… the donors give more and the charities raise more money.
The Big Give is now the pre-eminent site for matched funding, gaining recognition by receiving several charity awards and national media coverage. Better still the running costs are covered by Reed Online and the Reed Foundation so the money donated flows straight through to the good causes it is supporting. The plan now is to develop The Big Give further so that as well as its highly successful Christmas Challenge, the Big Give will be available as a matched fund raising platform for Disaster Appeals (eg East Africa famine), Category Appeals (eg. education or the environment), Geographical Appeals (eg London) and Single Charity Appeals.
The goal is to develop the technology so that the site is able to run multiple appeals and support all of these activities concurrently. This is a complex piece of work that will require a significant investment but the pay back in terms of its fund raising potential is clearly considerable. This combination of “PhilTech” and donor leverage will give generous people the power to run their own campaigns and multiply their philanthropic impact fourfold.
The Big Give already has a number of very generous Champions who have supported its campaigns since inception. It has 13 confirmed for this year’s Christmas Challenge. It is now seeking additional Champions for each of its 12 fund raising categories, so that a philanthropist can specify that they would like to be a Champion of the Arts for example. It is also keen to identify more charities that would like to step up and take advantage of the one week Single Charity appeal. The first to try raised £264,993 in seven days.
Ultimately the Big Give is a collective endeavour. It uses match funding methodology and “PhilTech” to leverage people’s generosity to achieve bigger and better outcomes. For a Champion philanthropist it can turn £1 into £4.
The Big Give is a generosity multiplier. The more Champions, Supporters and Donors that we can connect with the sooner we will reach that target of £1 billion raised for good causes. Please spread the word…