Here at Red Badger we’ve been thinking about how we can deliver more social value as a company. And one of the simplest ways was payroll giving, aka Give As You Earn.
Why get GAYE?
Payroll Giving, or GAYE as we like to call it, is one of the simplest ways to support charities by making regular donations straight from your pay packet. And I know from my time in the charity sector that monthly donations are great for charities; it means they have a good idea of their income in the long term, enabling them to plan a budgeted roadmap of campaigns and projects in advance.
Because donations are deducted before tax, every £20 we donate to a charity will only cost us £16 or £12 depending on what rate of tax we pay. Even better, Red Badger have volunteered to MATCH our donation, effectively doubling what our charity receives.
Finding a GAYE partner
There’s a lot of organisations out there that can help you manage the scheme, all with differing fees and set ups, but after a bit of research we opted for the Charities Trust. We liked the simple charge structure and the functionality available with their My Giving account, where we can manage which charity receives our monthly donation, and how often. We can also let it store up over time and then deposit a single donation to say, an emergency appeal or fund.
The numbers so far
A month in and over a quarter of us have registered, committing what will amount to over £7k a year to causes we care about. With Red Badger matching it, a staggering £14.5k will be going to good causes annually. Not bad.
If you want to read more about how we’re trying to deliver more social value at Red Badger you can read my (quite lengthy) blog about it. And if you’d like to join us and help lift those numbers, have a look at our Jobs.