IF you’ve ever been accosted by the well meaning folk outside the post office or supermarket, spruiking the virtues of several large charities, you may be disappointed to know that between 40 - 60 per cent of the money you donate goes to the very people that sign you up.
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Rarely do they disclose this fact when you hand over your details and it’s this opacity that encouraged Tom McCardell, the founder of local philanthropic group Common Cents Fund, to create a fundraising platform that is 100 per cent transparent, and it‘s taking the challenge out to the Orange business community to meet the $20,000 target set down by accounting firm Pigot Miller Wilson (PMW).
PMW director, Daniel Miller is confident the fund will hit the $20,000 target through a combination of donations from PMW themselves, a workplace giving program run by the staff, contributions from clients and by hosting a community fundraising event during the year.
Mr Miller said he was drawn to Common Cents because of some recent stories in the press regarding just how much money gets through to charities, and a desire to see just how much gets through to those who need it.
“With Common Cents Fund, they help charities reduce their administration costs and the whole donation process is completely transparent. We know exactly how and where our money is being spent and as financial advisers and accountants, that’s a priority for us.”
Mr McCardell said that the fund would purchase items, or pay expenses, directly for the charities rather than just donating money that went into general revenue.
“It allows those that donate, via the website or social media, to see exactly where their money is going. So far we’ve organised golf clinics with Empower Golf, a Christmas party for the staff at Wangarang and now we are helping to pay the rent at an Anglicare art studio in Double Bay,” he said.
Boosting the morale of its workforce is one of the benefits of philanthropy that Mr Miller has observed since they joined Common Cents.
“Quite aside from the obvious benefits to the local community, this commitment to philanthropy is already giving us a boost in staff morale. When we discussed implementing the program the staff were very eager to lead and engage with the idea. “
They’ve worked together to decide which local charities will receive funding and this has created a combined sense of purpose and a great feeling of goodwill,” he said.