Scrip fundraising programs are an interesting way churches and schools would raise much-needed funds for various programs they offer. Instead of traditional fundraisers like bake sales and auctions, that may only provide benefit once a year, scrip gives the power to raise funds all year long. But scrip fundraising programs aren’t just for churches and schools anymore.
What Exactly is Scrip?
Scrip fundraising programs use the everyday buying power of gift cards to help raise funds. Standard scrip programs use gift cards for everyday household purchases like groceries, pharmacies, and gas stations. Families purchase orders for scrip and pay full face value for the gift cards. The organization that sold the scrip purchased these gift cards at a discount (anywhere from 2-13% depending on the volume and the retailer). The difference between the face value and the discount your organization received is the funds you have raised. Pretty simple, right?
Benefits of Scrip Fundraising Programs
There are many benefits that come with using scrip as a fundraising tool rather than traditional fundraising programs.
- Those purchasing scrip are not buying something they do not want or do not need
- Earnings add up quickly, the bigger the organization and the more families involved, the bigger the earnings. A single family can earn an organization over $1,000 annually because they are buying for merchants they always shop at
- Scrip is perfect for helping people stay within a budget
- Scrip gift cards can be purchased for both in-store and online purchases
- Scrip is no different than using a credit or a debit card to shop
Example of How Scrip Works
Say your company was to purchase 50 scrip cards with a face value of $100, with an overall total face value of $5,000 but your company paid a total of $4,750 with the 5% discount. Your company then sells those gift cards at face value to clients, staff, volunteers, and others who typically shop at CVS Pharmacy. Those people do not experience any difference in expense since this is a store they typically shop at. Your company will net $250 from the initial investment ($5,000 in total sold less the $4,750 cost with the 5% discount). This may not seem like a lot, but for families that shop at the same places on a weekly basis, these earnings add up fast.
3 Pieces of Advice about Scrip Fundraising
- Start small: Start with a small group of folks and see how it works and how your organization feels about it.
- Poll people: Where do you shop regularly? Would they be happy buying their weekly purchases with gift cards and buying those gift cards from your company?
- Consider e-scrip: Online gift cards and online shopping is on the rise. Consider e-scrip from a reputable source.
Contact us today to learn more about which scrip companies can meet your needs.