SoGive, an Edinburgh-based social enterprise that is attempting to improve the transparency of charitable donations is all set to launch this year after receiving six-figure funding.
In an interview with Scotland on Sunday co-founder Sanjay Joshi said the idea for the organisation came about after he volunteered at charities and wanted to discover more details about how donations were used.
Joshi told the newspaper that when customers buy consumer goods they see what they are getting for their money.
SoGive will have in-built formulae and analytics to let donors see the change they’re making in the world in terms like “I funded the distribution of 30 malaria nets in Africa”, not just “I gave £100 to charity”.
It will use information in the public domain or obtained from charities. Joshi said: “When charities produce their annual reports and accounts, they tend to include information obviously about the financials, but also about what they’ve achieved. Additionally, many charities detail the number of people they reached and quantify what they’ve achieved.”
The venture has now received enough funding to get off the ground, helped by a £100,000 boost from the Scottish Government and the Hunter Foundation, a philanthropic venture founded by entrepreneur Sir Tom Hunter.
Plans are underway to raise further capital, and a crowdfunding campaign is to start next month while further finance is due to be raised from a series of partnerships with corporate supporters.
Charity donors won’t be charged to use the service, but they will be asked to give an optional percentage of their donation to SoGive. SoGive is a not-for-profit social enterprise – both of the founders have pledged to give 100% of the profits to charity.
Social media enbaled
The SoGive platform is a social media enabled platform allowing donors to link to Facebook and Twitter to let friends know about the good they achieve in the world.
“We believe in being open and proud about achievements with charitable giving – and we don’t want donors to hide their light under a bushel,” the organisation added.
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