For most nonprofit organizations, the largest percentage of donations are made in cash. According to Statistics Canada’s most recent nonprofit report, of the $10 billion in donations collected (for which the payment method can be determined1), $6.5 billion were made in cash.2 That’s 65% of all donations made in cash, a surprisingly large figure when you consider how much of Canada’s financial transactions have moved online. This is partly due to the nature of many fundraising activities, but is also a result of many donors’ discomfort with, or inability to make, online payments.
65% of all donations are made in cash
Any and all donations are, of course, extremely welcome, but the reality is that cash and cheque payments can be more work and costlier to administer than their electronic counterparts. Cash donations must be collected, counted and securely transported for deposit. Cheque donations similarly require extra labour and costs – to open envelopes, match donor information and make deposits (for which banks typically charge fees). In addition, cash and cheque payments require more effort to record and track for the purposes of tax receipts, future canvassing or communication to donors.
You need an alternative payment method for your customers, an easy way for them to make secure donations by cash or debit. Loadhub provides exactly that – a trusted mechanism for your donors to make in-person cash donations at any one of 6,000 postal outlet locations across Canada. You provide your organization’s Quick Reference (QR) code to donors, they make their cash donation at Canada Post, and you receive the donor notification in real time.
Loadhub’s QR technology can also provide nonprofit organizations with new opportunities to accept mobile payments from donors – options that are easily incorporated into on-the-go fundraising or social media campaigns.
Loadhub gives your donors the comfort of a simple and secure payment option at a trusted crown corporation.
Reduce both the costs and effort associated with handling cash and cheque donations. With Loadhub.
1 The payment method was not collected for donations of $5 or less, and information is not available for donation amounts that were imputed. As a result, the total donations collected by payment method is lower than the total of all amounts donated ($12.8 billion).