NFP merger to create new pool of charitable funding
16 December 2019 at 3:55 pm
Good2Give has merged with ShareGift Australia
Millions of dollars of virtually untapped share capital could be unlocked for charities’ benefit thanks to a new merger.
Not for profit Good2Give – which facilitates giving between corporates, donors and charities – has joined with ShareGift Australia in a move that aims to encourage shareholder giving across the country.
ShareGift is a not for profit that aims to make it easy and cost effective for shareholders to grow philanthropy by donating shares and related proceeds to charity. It has already distributed over $1.8 million to Australian charities.
By investing in technology and resources, Good2Give – whose platform has facilitated over $210 million of charitable funding to date – aims to enhance ShareGift’s future capacity and produce economies of scale.
Good2Give CEO Lisa Grinham said the merger will introduce a new opportunity for shareholder giving in Australia.
“One of the most exciting outcomes of this merger is that it represents a unique opportunity to perpetually grow corporate philanthropy and shareholder giving in Australia,” Grinham said.
Anna Draffin, ShareGift’s executive director, said the merger would enable shareholders to consolidate their giving across their share portfolio, and for charities to receive funds more efficiently.
“As the only service of its kind in Australia, ShareGift’s merger with Good2Give will build on our existing market expertise, enabling us to generate more share capital for the benefit of more charities,” Draffin said.
“To put this in perspective, right now there is approximately $451 million in 150,000 small holdings.”
To enable the merger, which came into effect on 10 December, philanthropic funding was secured. A second funding round will be sought in early 2020.
ShareGift’s services remain uninterrupted.