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What is the Matching Fund Program?
The Ride Team has asked some larger donors to contribute $5000 or more to the “Matching Fund Pool” of the Ride for Refugees, (R4R), which is then offered as incentive to riders raising money and pledges for the R4R.
How does it work?
If a registered R4R participant receives a gift of $500 or more, that amount will be matched out of the Matching Fund Pool effectively doubling the size of the donation from $500 to $1000.
How did it work in 2006?
The program was introduced late in the event in 2006, (literally one week before ride day), and the response was significant:
- $20,000 was pledged as a Matching Fund grant and within two weeks this amount was fully matched by ride participants.
- The matching grant doubled the return on donations from $20K effectively adding $35,000 more dollars to refugee ministries.
- Riders were motivated and inspired with the support of “major donors” to the event and cause.
Why is it important?
The average individual donation to the R4R is $46. The Matching Fund Program encourages prospective donors to make a $500 gift, (10x higher than the average), in order to invoke an additional matching fund gift of $500 totaling $1000 (20x higher than the average). If 100 people give $500 rather than $46, the ride will raise $45,000 more in support.
The Matching Fund program is important because:
- it invites donors to give more, and they do;
- it adds credibility to the ride when donors understand that larger donors have committed financially to the same cause;
- it increases the financial resources available for refugee services and ministries;
- it spreads these resources among all our Ride Partners.
How will it work in 2008?
We would like to raise $30,000 to be made available in Matching Grant Funding to assist the expected 500 riders who will participate in 2008.
Conditions:
Only gifts from individuals or businesses qualify. A gift from a church “mission board” is acceptable as long as the church is permitting individuals to give as well. Pooling of smaller gifts to create a larger qualifying gift is what we are trying to avoid.
The minimum amount is $500 – there is technically no maximum but on a gift of more than $5000 we would appreciate a call first.
Who will benefit?
This year some of the ministries that will receive support directly from the ride include:
- Matthew House (Fort Erie)
- International Refugees Day (June 07 sponsorship)
- Congolese Refugee claimants (Royal City Guelph Church)
- Welcome Home Refugee Community (KW)
- Micah House (Hamilton)
- Listen to Learn (RWANDA refugee camp focus)
- Mennonite Coalition for Refugees
- University of Guelph Refugee student care
- Refmin (the official refugee arm of International Teams)
- Christmas for New Arrivals in Waterloo (an outreach from New Hope)
- IWAASRU (Sudanese refugee ministries in Kaji Kaji, Southern Sudan)
- Enviro Stewards water program (Sudan/Uganda)
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