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Imagine there’s an untapped pot of funds in excess of a half billion dollars, available to Charities in Canada… waiting to be donated by recurring monthly donors. 

Would that make your charity take note?  Would you want to know more, like, how do we get our share?

ChangeIt

Well, it’s out there, and it’s waiting for you to start getting your piece of this delicious cause-based pie. It’s all created through ChangeIt, the exciting and revolutionary new way for donors to give by enrolling their Credit Card to automatically round-up every purchase to the next dollar.  Then, electronically those cumulative round ups get donated monthly to their favourite charitable causes, and yes, the customer can choose from any of the over 86,000 Canadian Registered Charities in good standing with the CRA.   Nothing to do for donors but enroll their Card and choose the Charities they want to support…and feel good about it all while they collect their Tax Receipts at year end.

ChangeIt’s model is to partner with the Financial Institutions that issue those Credit Cards to their loyal customers and make the ChangeIt “round-up and donate” capability a feature of the Card program. In effect, those Banks are aligning their Corporate Social Responsibility values with one of their core product offerings to show their customers their commitment and belief in supporting the communities they serve.

ChangeIt is off to a running start, having already added BMO Bank of Montreal and RBC Royal Bank to their Partner Program. 

Let’s Do the Math

So why is it a $500 million dollar pie?

There are roughly 30 million active Credit Card accounts out there in Canada. Each customer who enrolls their Credit Card in ChangeIt will make an average of 30 purchases per month which when rounded up to the next dollar, will create on average $15 monthly or $180 annually of recurring donations to their chosen Charities.

Every 1% of Canadians who enroll in ChangeIt, are therefore creating $54 million in additional charitable donations, all based on the rounding up of their purchase transactions. (virtual donations that weren’t being made before)

If we all work together, we can achieve the ultimate goal of having 10% of Canadian Credit Cards enrolled in ChangeIt, and there it is…the $500 million dollar pie.

One Charity at a Time

So that’s a stretch goal. A macro look at what can be done.

The positive reality is that the road to $500 million is well underway, and while we talk about lofty overall numbers, it really means more when you look at the impact on an individual cause, an individual Charity that has started to embrace the concept and has started to reap the results of the possibilities from ChangeIt.

Fast forward to the Cancer Research Society, www.crs-src.ca  the first Canadian not-for-profit organization whose sole mission is to fund research on all types of cancer.  They have been doing this since 1945, thereby contributing to the advancement of science aimed at preventing, detecting, and treating cancer.  They are an amazing Organization with history and credibility.

The Cancer Research Society immediately embraced the ChangeIt concept and decided to implement the simple tools that ChangeIt makes available to individual Charities to market the program to their donor base. Does it make a difference? Let’s hear what Cancer Research Society President and CEO Andy Chabot has to say about it:

“The Cancer Research Society is pleased to have partnered up with ChangeIt in January 2015. Since we signed up to the program, 132 new individuals have become monthly donors to the Cancer Research Society and donations have been increasing systematically with every passing month. A monthly gift as low as $15, made quickly and painlessly through ChangeIt helps reduce our administration costs so that more of each donor dollar is dedicated to cancer research across the country. If the trend continues in 2016 as it has begun in 2015, generous donors through ChangeIt will be able to fund – on their own – an additional cancer research project deserving of funding that would otherwise have not received a grant for lack of donations.  ChangeIt is an easy, low cost option for charities who wish to diversify their donor base at very little cost to the organization.”

What a great example of a Charity with great vision, history and cause embracing innovation, collaboration and the latest technology to make giving easy for their donors….and fun.

Whether it’s the 132 new recurring donors the Cancer Research Society has added this year through ChangeIt or the fact that they’ll likely add that many and more next year, you can see the impact of the ChangeIt “round up and donate” program is making a difference, one charity at a time.

So can we tap into that $500 million dollar pie together to use small change to make a big difference in the lives of Canadians in need?  The Cancer Research Society story and many charities like it say yes.  ChangeIt says yes!

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