Corporate Options Account

A Corporate Options Account is provided and administered by Charitable Giving into which you as an employer can maintain funds associated with your charitable giving. You can have as many accounts as you feel you require.

A Corporate Options Account offers two significant benefits – convenience and control. Funds associated with a specific charitable goal can be easily identified, ring-fenced, and managed. What’s more, Charitable Giving’s administration and excellent service removes the burden of you having to process funds and keep track of what’s going on. On-line management via our website means that you can get an up-to-date statement of account at any time as well as being able to send your disbursement instructions by eVoucher.

 

What can a Corporate Options Account be used for?

 

Our clients use Corporate Options Accounts for a variety of purposes, for example:

  • Depositing funds to cover their contribution to annual administration fees for Payroll Giving, Every Penny Helps, or other charitable giving
  • Collecting employees' Payroll Giving deductions on behalf of "Charity of the Year" or some other special appeal
  • Depositing funds to cover the "matching" of employees’ Payroll Giving deductions or other fundraising activities
  • Collecting other funds raised out of post-tax income and that may qualify for Gift Aid

How does a Corporate Options Account operate?

 

  • Deposits can be made by cheque, BACS, bank transfer, or counter credit at any bank and accompanied by a remittance advice
  • Instructions to make disbursements to charity are made by eVoucher
  • The validity of charitable disbursements will be made by Charitable Giving
  • Where appropriate, an analysis of credits and debits, e g, by region, branch, or office, may be provided by Charitable Giving
  • Other disbursements may be initiated by Charitable Giving depending on the purpose of the account, e g, for paying administration charges or "matching"
  • For accounts used for purposes other than the Every Penny Helps scheme*, an administration charge of £3.50 is made for each disbursement; no charge is made for deposits
  • A Corporate Options Account does not accrue interest
  • Separate on-line management is provided for each account

What is necessary to set up a Corporate Options Account?

 

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