Bargain Philanthropy - News4u
Making Sure your Donations Go Further
KJ Mullins-Toronto: Most people want to do good. In Canada millions are donated every year to various groups. How much of that money is being spent to its full potential? There is a new term, Bargain Philanthropy, that could be changing how donations are spent.Most donations come from individuals and not the big corporations. Both groups are important for the charities that they give to. What also is important is making those dollars go as far as possible.
With buzz words like 'gravy train' winning elections it's clear that the public is wanting to stop waste. One of the biggest wastes when it comes to the non for profit sector and big business when it comes to charity giving is how they buy the items that their clients need. Most groups don't have a personal shopper who can trim the costs off. That's not exactly true though, in Canada there is a for profit business that works with non-profits, the Bargains Group. The company wants a new buzz word to be going around, "Bargain Philanthropy.'
The Bargains Group is a wholesale company that is totally for profit and yet they have become the place to call when it comes to supplying not for profit groups.
Jody Steinhauer is the president of The Bargains Group. She is one of the most motivated business women in Toronto when it comes to making a dollar. Steinhauer is also one of the most generous. She is the founder of two initiatives, Project Water and Project Winter Survival, that help Toronto's homeless. For this business maverick being a philanthropist is just part of who she is.
The Bargains Group believes in 'Triangle Fund Raising'. The theory to this new age type of donating is pretty simple; one take a donor who wants to give to a group and pair them with a company that can give a huge discount for the products that are needed.
Let's look at how this plays out in real life. Say company ABC is wanting to be a sponsor for the XYX Women's Shelter. ABC has $10,000 they will be donating. XYX needs welcome kits for the women that come into their shelter. That $10,000 could be spent at local stores with their overhead costs for $10,000 worth of product or could be spent at a wholesale company like The Bargains Group with closer to $30,000 worth of product.
Having that connection with a wholesaler also helps an agency get the right products for what they need. Every day at The Bargains Group the staff guides their clients through what are the best products for their needs and which sizes of those products would be the best fit. For a non profit group it's having a professional shopper at their beck and call for free.
It's simple math as to which is the better solution for the charity. So why isn't it being done already? For one most charities have no idea it is as simple as that. Charities don't tend to hire shoppers. The person doing buying is often, like in a larger corporation, the director's assistant.
When discussing Bargain Philanthropy Steinhauer's eyes light up. She's the kind of woman who gets a high when going to the store and saving 10 bucks. "We all know that feeling you get when you are doing something good and that feeling you get when you get a bargain. The Bargains Group wants to give everyone in Canada that same feeling, the feeling of Bargain Philanthropy."
This type of giving allows not only the bigger donors but the grass roots groups too. It's catching on slowly with various agencies whose clients are benefiting. With less money having to go to client supplies more money can be spent for needed projects.
If the charity that you support isn't using a Triangle Fund Raising method ask them why. They may not be aware that there's a way to get more for their money.
To get in touch with The Bargains Group visit their web site.