Big Give match fund boosted to £12m

Fundraising | Celina Ribeiro | 29 Jul 2009

Sir Alec Reed has put up an extra £1m for the Big Give’s latest match funding challenge, boosting the potential challenge fundraising total to £12m.

The philanthropist (pictured) decided to double his donation to the match fund offer after charities responded more enthusiastically than expected to the match funding scheme.

The match fund challenge, which comes into effect in December, works by having charities secure pledges of match funding from trustees and major donors. Money they raise from wider fundraising in December is then matched by the money pledged by the trustees, thus doubling the public donation. That money is then again matched by the now £2m put up by the Big Give – which will be allocated on a first-come, first-served basis.

Originally the Big Give - which Reed chairs - had hoped that charities would secure pledges of £2m in match funding. But as of the closing of the deadline at the end of June, more than £5m had been secured by charities as pledges.

With Sir Alec’s extra £1m pledge, the potential value of the match fund challenge has risen from £6m to £12m.

The Big Give's managing director Jon Brooks said the Big Give was very pleased with charities efforts. “It’s been a fantastic response,” he said.

“Most of the donors see it either as a leveraging or a simple doubling.”

Who's Who: Celina Ribeiro

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