Finance - Question:
Is the WELL Foundation is a 100% charity if so how does it make money for flyers, dinners etc?
If you donate £1, that one pound will be sent to our implementing partner (Implementing Partner is another charity who will build our wells, grow our trees etc as we can not afford buy large Well digging machines we will use other charities) The implementing partner usually take % which can vary from 0% to 12.5%, this cost is already included in the project, this usually pays for their workers on the ground who carry out the work.
Gift Aid, We have started to use Justgiving more and more as this keeps track of money and it is easy to claim Giftaid back. If you donate £1 to Just Giving they take 5% but if you click the gift aid box they give us 25% back so for that £1 we get £1.20, there is also a £17 monthly charge. The £1 you donate goes to that project and the 20p goes to admin costs, Why don't we donate that 20p also you might ask? If you donate £1 and don't click the gift aid box then its only 95p so if someone donates £500 without clicking box its £475 we have to compensate for those costs also.
We DO NOT GIVE BACK any Giftaid to charity partners, it is used for Livelihood projects instead.
To make a general donation by bank transfer, simply contact your bank to arrange the funds to be transferred directly to our bank account. Specify GENERAL FUND as the payment reference and we will do the rest. THE WELL Foundation ’s bank details are shown below. Alternatively, you can download our Standing Order Mandate and present it to your bank.
|Bank Name:||The Royal Bank of Scotland Plc|
|Bank Address:||50 Cadzow Street Hamilton Lanarkshire ML3 6DU Scotland UK 01698 282868|
|Account for £Sterling donations:||00629281 IBAN GB66RBOS83222600629281 IBAN BIC or SWIFT- RBOSGB2|
Alternatively you can make a donation by SMS (short message service) by texting Well78 £5 to 70070 You will be billed £5 (five pounds sterling) by your mobile phone operator.