One of the things we were struck by in the results from our recent marketing survey was how many booksellers want to donate to Binc. Again and again, booksellers asked to have a method for easy, no-fuss monthly donations, with a preference for paycheck deductions. The Foundation is aware from our beginnings as the Borders Group Foundation that this method is both easy for the donor and successful for the Foundation. For the first 15 years the Foundation received an average of $2.17 per paycheck from bookstore employees across the country. All those small amounts added together formed a significant amount for financial assistance and scholarships. We know from experience that the strength of many, giving a little makes for a very strong Foundation.
When we heard booksellers voice a preference for this type of automatic donation, we started to ask questions. Could small bookstores do the same? Could a small payroll processor arrange this type of donation? Could it be accomplished with a minimum of fuss and inconvenience? It turns out the answer is yes, yes and yes.
Here is how it can work:
• An employee indicates to their employer that they wish to participate in a payroll deduction for Binc.
• The employee indicates the level at which they wish to participate ($1 per paycheck, $5 per paycheck, etc.)
• Employer sets Binc Donation up as a payroll line with their payroll processor
• The processor deducts the amount from the employee’s check
• The employer submits payment to Binc on a set frequency on behalf of its employees. (Your payroll processor may even be able to transfer the funds directly via a ACH transfer, making it even easier.)
For the bookstore this is the same method you use for taxes and healthcare accounts. It is a process that is in action already in a number of stores.
Please contact us at email@example.com or 1-866-733-9064 for more information.