You have a solid idea that meets a profound need within the community. We are excited to learn more about the details of the business model. How is your organization financed? The “sharing” principle is compelling, and we are interested to know your plans for getting potential donors on board with this idea.
Since the judges spend more time reading the entry form than the comments, please also update your entry in addition to responding to our questions and other comments. This will provide the panel of expert judges with the most comprehensive explanation.
Fascinating if something as apparently verbally insightful as this will actually change the way people see giving. Tested it on myself - and it does have a certain appeal.
Over time, most donors identify groups and/or causes that they would like to support - the difference will happen if this sharing can channelise specific resources to specific causes.
This idea is more a positioning change from giving to sharing, which I guess needs to be done for the market at large - the impact is if the total pool of contributions goes up, and the act of giving is changed in people's minds.
Or am I missing something here ?
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Featured Commentator
Ashoka's Changemakers
Simple to implement, insightful after the fact and a social change maker it will be!
Yes I agree, once society thinks about how they have had to Give from their out of pocket cash, to move to a Share model with "future" returns it should be an easy transition. Today the average donation to a Charity is less than $300 per year per individual (not counting Bill Gates and Warren). Yet, if someone Shares from their investment account of say, 50,000 (Principal remains in their name and never touched) at 2% from a return of say 8%. The total return to the Donor would be $4000 and out of that amount they Share 2% or $1000 with the Charity plus, would get a tax write-off based on his/her tax bracket. And never having to come out of pocket with a cent. Their real yield would be higher then 6% (8-2) because of the tax savings from the $1000.
It is paid quarterly and automatically. Giving the Charity cash-flow and sustainable dollars to work with.
So you are saying, no out of pocket donation for a donor, they just have to share an amount of what the investment accounts return, right?
If so I can really see a big use of your social fund raising tool at banks and financial houses. It would provided a needed cash flow to a nonprofit organization. Plus we would save time and stop having to ask for donations all the days.
JManogue,
Our Charitable Sharing Accounts allow financial services firms to offer out this new Social Fundraising tool across the globe so that anyone can Share with their specific cause.
I do feel this is a win for society, the Charities, and the Financial world as well.
Dear Joseph,
Thank you for submitting your entry!
You have a solid idea that meets a profound need within the community. We are excited to learn more about the details of the business model. How is your organization financed? The “sharing” principle is compelling, and we are interested to know your plans for getting potential donors on board with this idea.
Since the judges spend more time reading the entry form than the comments, please also update your entry in addition to responding to our questions and other comments. This will provide the panel of expert judges with the most comprehensive explanation.
Thanks so much! We look forward to learning more.
Best wishes,
The Changemakers Team
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Kaylena Bray
Ashoka's Changemakers
Fascinating if something as apparently verbally insightful as this will actually change the way people see giving. Tested it on myself - and it does have a certain appeal.
Over time, most donors identify groups and/or causes that they would like to support - the difference will happen if this sharing can channelise specific resources to specific causes.
This idea is more a positioning change from giving to sharing, which I guess needs to be done for the market at large - the impact is if the total pool of contributions goes up, and the act of giving is changed in people's minds.
Or am I missing something here ?
----------
Featured Commentator
Ashoka's Changemakers
Simple to implement, insightful after the fact and a social change maker it will be!
Yes I agree, once society thinks about how they have had to Give from their out of pocket cash, to move to a Share model with "future" returns it should be an easy transition. Today the average donation to a Charity is less than $300 per year per individual (not counting Bill Gates and Warren). Yet, if someone Shares from their investment account of say, 50,000 (Principal remains in their name and never touched) at 2% from a return of say 8%. The total return to the Donor would be $4000 and out of that amount they Share 2% or $1000 with the Charity plus, would get a tax write-off based on his/her tax bracket. And never having to come out of pocket with a cent. Their real yield would be higher then 6% (8-2) because of the tax savings from the $1000.
It is paid quarterly and automatically. Giving the Charity cash-flow and sustainable dollars to work with.
If we would all just Share!
P. Joseph
So you are saying, no out of pocket donation for a donor, they just have to share an amount of what the investment accounts return, right?
If so I can really see a big use of your social fund raising tool at banks and financial houses. It would provided a needed cash flow to a nonprofit organization. Plus we would save time and stop having to ask for donations all the days.
j manogue
JManogue,
Our Charitable Sharing Accounts allow financial services firms to offer out this new Social Fundraising tool across the globe so that anyone can Share with their specific cause.
I do feel this is a win for society, the Charities, and the Financial world as well.
Show you Care and Share!
P. Joseph