A Nearly Effortless Way to Raise Funds
By Teresa Ambord
Scrip is a great way to channel funds into your non-profit organization, using substitute money. The idea is to generate loyalty among customers. National and local retailers issue scrip in the form of negotiable gift certificates that are used just like cash at the issuer’s store or establishment. The exact operation of a scrip program varies, but the general idea is the same.
The Great Lakes Scrip Center (GLSC) is a good example. GLSC buys scrip in bulk from participating retailers (see web site below for a list) and sells it to your agency at a discount. Your supporters then buy the scrip from you at the full value and use it to purchase their groceries or other products for the same price they would otherwise pay. Then most of the difference (two to fifteen percent) is retained by your agency.
Log onto the GLSC website below to find out more about scrip operations. You’ll find a calculator there which will give you an idea how much revenue you can generate.
Here's a dollars and cents example from the GLSC: if a non-profit sells scrip to 150 families, those families spend between one and two million dollars yearly for purchases they already make. That is a potential donation to your agency of $40,000 to $80,000 each year, with no expense to you.
E-Scrip
Although the concept of scrip has been around for awhile, it’s even easier since Electronic Scrip Incorporated (ESI) began in 1999 to form liaisons between businesses and communities. Since its inception, ESI has distributed more than $120 million to various organizations, designated by people like you.
By registering at the website below, you can begin to generate year-round funds for your non-profit, with minimum effort.
With ESI, certain retailers, such as Safeway, Pick ‘n’ Save, and others, contributors can designate their favorite charities from the list of participants. The retailer then designates a specified percentage of the total money those contributors spend in their establishments using credit cards, debit cards, or store loyalty cards. Consumers can track their purchases online if they wish, so they’ll know how much of a contribution they’ve generated.
What’s in it for the Retailers?
A loyal customer base. Not only does scrip encourage customers to shop with them, but it also promotes good feelings towards retailers who support important causes.
If your agency is like most, there is a constant need for revenue and a shortage of manpower to generate it. Scrip may be the answer to your fund raising needs.
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