Website will help richest to donate

The Reed Foundation is to launch a website that allows wealthy philanthropists wanting to donate between £100,000 and £10m to search for charitable projects.

Oxfam, the Red Cross and the NSPCC are among the charities that are interested in uploading projects to when it launches in September.

Wealthy donors will be able to view projects that are looking for funding and search by the amount of funding needed, sector, location and type of beneficiary.

Once they have chosen a project, they will be provided with the appropriate contact number at the charity - for example, the chief executive's number if they want to make a donation of £10m. They will then be able to make phased payments over five years.

The foundation, which was set up by recruitment company Reed, is planning a £100,000 launch to the voluntary sector, which will include a direct-mail initiative to the top 20,000 charities.

Direct mailings to wealthy potential donors and events in the City are also planned for this year. UK-registered charities can upload for free details of projects that require funding.

Alec Reed, founder of the Reed recruitment company, will participate personally and distribute £1m in the first year.

The project will form partnerships with companies including private banking firm Coutts, to engage wealthy prospective donors. Thirty per cent of the UK's high-wealth customers bank with Coutts, according to a Reed Foundation spokesman.


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