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.
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?
There are many benefits that come with using scrip as a fundraising tool rather than traditional fundraising programs.
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.
Contact us today to learn more about which scrip companies can meet your needs.