Modernizing Giving through Electronic Payments Maximizes Benefit to Companies, Employees and Charities
CALGARY, AB - May 1, 2018 - Benevity, Inc., the global leader in corporate social responsibility and employee engagement software, today announced that electronic payments made to charities and nonprofit organizations through its platform have reached an all-time high—a direct result of the company's leadership in making corporate giving more democratic, simple and streamlined on a global scale. 87 percent of total employee and corporate donations processed through Benevity are sent electronically, providing charities and nonprofits with the most accurate, reliable, efficient and cost-effective way of receiving funds. Benevity's rate of electronic disbursements leads the industry by more than two times and has become a benchmark of scalability for vendors in the corporate giving space.
For the past 10 years, part of Benevity's social mission has been to bring much-needed scale and efficiency to the charitable landscape through best-in-class technology that modernizes the way charities process and receive donations. By aggregating monthly payments to each charity across all clients and donors, and automating essential but non-strategic tasks like tax receipting and reporting, Benevity minimizes manual administration associated with processing paper checks and issues that lead to lost checks, delays in receiving funds, and inaccuracies—all of which can have reputational risk for companies, threaten funding for charities and reduce the amount of funding that can be applied toward the social issues being addressed. Electronic payments play a key role in this mission, enabling donors to easily give to causes around the world—including countries that no longer accept checks—and to verify that funds have been disbursed to the intended recipient in a timely and accurate way.
For example, when there was a dramatic increase in the level of giving in response to disaster relief efforts in the fall of 2017, Benevity bundled close to 100,000 individual transactions into a single $9.65 million disbursement to the world's leading humanitarian organization, allowing them to further their mission of caring for those in need while minimizing their backend office administration.
"The CSR space is one of the few industries that has continued to rely on checks as the primary means of distributing funds. This has reduced both the number of charities that can benefit from a program, as well as the accuracy and timeliness of payment—hampering companies' ability to scale their Goodness programs," said Bryan de Lottinville, Benevity Founder and CEO. "When corporations embrace a platform approach, they can open up their giving, matching, volunteering and grantmaking programs to include more causes from around the world, helping to build a more inclusive, authentic and purpose-driven company culture and brand."
The Benevity Causes Portal includes a global database of almost 2 million charities and nonprofits. Benevity leads the industry in disbursing funds electronically. Currently, 100 percent of international donations and 87 percent of total donations processed through the company's platform are sent electronically.
In addition to automating and aggregating fund disbursement, tax receipting, tracking and reporting, Benevity also provides charities with donor reporting, and the ability to publish targeted content to Benevity's client giving sites, which corporations use to engage their employees in charitable campaigns, events and projects.
"There are many third-party giving platforms out there, but in my experience, Benevity is one of the best," said Trina Jones, Managing Director, Health in Harmony. "Benevity makes everything easy with disbursement notifications, clear reporting with donor and contact information, and more. After working with the Benevity team, I know that they are receptive and truly want to create the best experience for nonprofits and companies. Plus, our corporate partners clearly have a lot of trust in Benevity's platform, which in turn allows us to tap into corporate giving programs—like those that offer employee matching—on a much larger scale."
Charitable organizations and nonprofits interested in more information about Benevity can visit https://causes.benevity.org/.
Benevity, Inc., a B Corporation, is the global leader in online workplace giving, matching, volunteering and community investment software. Many of the world's most iconic brands rely on Benevity's award-winning cloud solutions to power corporate "Goodness" programs that attract, retain and engage today's diverse workforce by connecting people to the causes that matter to them. With software that is available in 17 languages, to more than four million users around the world, Benevity has processed over 2 billion dollars in donations and 10 million hours of volunteering time this year to almost 150,000 charities worldwide.
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