OAKLAND, Calif. - April 3, 2020 - (Newswire.com)
Bright Funds, the workplace charitable giving platform, announced today that the workplace donations on its platform more than doubled with an increase of 129% compared to March of the previous year. The increase in charitable giving has been driven by generous employer and employee response to the global COVID-19 crisis.
Bright Funds and its customers have created over 60 Funds focused on COVID-19 response. Similar to the mutual fund model, Funds are a collection of nonprofits addressing a specific cause. The COVID-19 Funds have raised over $1.3 million to date. While monetary support has increased, volunteer hours in Bright Funds fell by 58% over the same period the previous year. Bright Funds is facilitating volunteer activities by helping employers and individuals organize or search for virtual and/or skilled volunteering opportunities.
While the outlook for many nonprofits seems dire, there is hope and optimism among nonprofit leaders, everyday donors, and employers. This is clear by the outpouring of generosity from many employers and donors on Bright Funds. Many employers have made more matching gifts available to employees to amplify their support to their nonprofits of choice, such as offering two-for-one matching or doubling their matching limits. Many employers have rapidly deployed customized campaigns or launched innovative programs to increase nonprofit support. Rachel Nersesian, Head of Client Success at Bright Funds, shared, “It is inspiring to see the commitment shown by our clients to their employees and nonprofit partners during this unprecedented time. The thoughtful and creative campaigns and initiatives have the ability to make a significant impact to those in need right now.
Bright Funds continues to make considerable investment in its platform to urgently support nonprofits, donors, and employers. To support the high employer demand, Bright Funds has streamlined client rollouts, enabling employers to launch workplace giving programs in a day. To address nonprofit cashflow concerns, Bright Funds is expediting funds distribution from monthly to weekly. Bright Funds CEO Srinagesh Vitthanala said, “We are at a unique time and place. My heart goes out to all those affected. I am personally humbled to be part of our clients’ global effort to support nonprofit partners. Bright Funds is committed to continue to improve our platform and services to enable employees to make a difference and to get resources into the hands of nonprofits as quickly as possible.”
Through this time of crisis, Bright Funds continues to be the workplace giving platform of choice supporting employees to make a difference, employers to deliver on their philanthropic goals, and nonprofits to deliver their services.
For more details, visit https://www.brightfunds.org/ or email info@brightfunds.org.
About Bright Funds
Bright Funds is a workplace philanthropy company headquartered in Oakland, California. Bright Funds partners with companies to provide a platform supporting employee giving, volunteerism, and grants management. Bright Funds powers programs for employers of all sizes that value giving back to their communities.
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Original Source: Bright Funds Announces Doubled Donation Volume Resulting From Generous Employer and Donor Response to COVID-19 Crisis
