If you find yourself strapped for time to organise traditional fundraising events for your school, delving into passive income avenues could be the solution. Passive income streams require minimal effort to maintain but can provide a steady flow of extra funds
CREDIT: This is an edited version of an article that originally appeared on FundEd
Exploring passive income options
Affiliate shopping websites offer a choice of thousands of leading online retailers who will donate a percentage of sales to your school charity. You can raise funds simply by putting all your online office buying through your chosen site. You can also promote the site to staff and school parents, as a way for them to support your school as they shop online, without additional time or financial commitments.
Give as you Live Online (giveasyoulive.com) has raised more than £10million for UK charities by passing on 50% of the commission it receives from retailers. TheGivingMachine (thegivingmachine.co.uk) is a registered charity that allows shoppers to support up to four charities through their purchases. It can also collect Gift Aid for you on top of commissions.
Both sites have a downloadable ‘donation reminder’ and free mobile apps. There is no cost for a charity to join and the average amount raised is £2.10 per person per month. So with 200 families supporting your scheme, you could potentially be earning £420 per month.
Affiliate schemes are where retailers and businesses pay a commission on sales generated from referrals. This can be set up through a promotional link on your website and most merchants pay 3-4% commission. You could initiate this kind of partnership agreement with local service businesses, such as garages and restaurants, who could make a donation for every new customer or booking.
Many schools charge for business advertising on school literature, such as brochures and welcome packs, and on signage in prominent locations, such as sports pitches. You could also charge for any leaflets you are asked to hand out.
Often, school suppliers pay commission for the sale of products such as school uniforms, photos, yearbooks, bags and one-off promotions.
Case study: Priory School, Lewes
Community Liaison and Income Generating Manager, Amanda Burgess, shares insights into Priory School’s passive income strategies:
Shopping: Utilising platforms like Easyfundraising and Stikins, Priory School generates a steady income stream by encouraging online shopping and promoting affiliate partnerships.
Recycling initiatives: By participating in recycling schemes like Empties Please and Rag Bag, the school not only promotes sustainability but also earns additional funds.
Local affiliates: Forging partnerships with local businesses, like restaurants, enables the school to host fundraising events or secure donations based on customer purchases.
Passive income streams offer a sustainable way to bolster your school’s finances without the need for extensive time or resources. By exploring these avenues and implementing tailored strategies, schools can create a reliable source of supplementary income to support various initiatives and projects.
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