Foreign Currency Fundraising
Foreign Currency ... everyone has some at home!
Just think about it for a second ... you have a jar or a drawer somewhere at home with foreign currency in it. Maybe you wanted a souvenir, maybe you thought you would go back and take it with you. Either way, you never thought that it would sit there for years (like it has).
So why not put it to good use?
Airlines were among the first to collect foreign currency for donations. UNICEF realized this very early on and has partnered with many different airlines around the world since 1987 and has raised over US$160 Million in that time.
Air Canada created the Air Canada Foundation to help manage their collection program, "Every Bit Counts". Today they support Children's Hospitals across Canada and help hundreds of other charities with their fundraising efforts.
Airports in different parts of the world collect donations in support of both local and global initiatives. Canada, the U.K., Europe, and Australia are where you will find some of the most successful collection programs.
However, with an estimated $750 Million of foreign currency in Canada and over $10 BILLION sitting around collecting dust in the United States, there is a lot of money to go around! Even with the success the airlines and airports have, they are barely scratching the surface.
Charities that develop ways to access those funds early on will be the fundraising winners!!
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Collecting donations in cash has been around for years, decades in fact ... maybe even as long as cash itself has been around.
But collecting donations in currencies other than Canadian or US Dollars is new. In fact, it is so new that only a handful of organizations are doing it today.
To find out how your organization can take advantage of this, click the button below.