From £6.99 per month
ShareProphets
The one stop source for breaking news, expert analysis, and podcasts on fast-moving AIM and LSE listed shares

MINDING THE LSE’S BUSINESS

Join for as low as £6.99 per month

With ShareProphets’ membership, you receive:

• All premium articles

• Tom Winnifrith’s Bearcast

• Access to all the entire nearly 10 year archive

• ShareProphets Daily Newsletter

JustGiving doubles down on its lies – email received, the scandal is now £37.4 million!

By Tom Winnifrith | Tuesday 23 January 2024


 


Yesterday I revealed how JustGiving almost forces folks to make a voluntary “tip” claiming that the cash will go to help charities raise money/improve its service when in fact the vast majority of it is paid out in dividends, £31 million in the last reported year. Amazingly the FCA regulates the charity platform so appears to sanction this deceit. Today I have received an email from Just Giving…

Firstly I am thanked for giving a score to support my daughter’s charity swim. But then I am told

We wanted to also say a special thank you for making a voluntary contribution to JustGiving. In doing so, you've ensured we can continue to develop and help people raise money for causes close to their hearts. Curious about what that contribution is spent on?

Sure I am curious but I think I know

It’s entirely up to you. Just know that if you choose to make a voluntary contribution you’re helping towards:

Top notch service
Our team is hard at work 24/7 making sure people in 196 countries can use our website whenever they need it.

Making it easy
Raising money for good causes should never be difficult. That’s why we send weekly payments to charities. We do all the heavy lifting so you don’t have to.

Staying ahead of the game
We never stop looking for new ways to make donating online easier. With payment methods like Apple Pay, Google Pay and Pay with Bank Transfer, we’ve got you covered.

Safe and secure
We’re serious about your data. So you can trust that when you make a donation, your information is entirely safe.

Ends

That is all very well but it is simply not true. Revenue in 2022 was £53.1 million and the company spent £31 million on dividends and gave its owners and additional loan of £6.4 million. So in other words for every £5.50 given as a “tip” by mugs like myself trying to help charities, £3.70 was sent to the owners, an American corporation while another £12 million ( or £1.20 of that nominal “tip”) went on the costs of 127 staff. Yup the average staff member cost £94,500 to employ.

That is jolly nice for the staff and even nicer for the owners but for those giving “tips” to help charity work is it really what they were expecting.
How on earth is Just Giving not misleading us all and how on earth can the FCA sanction this?

This story is available to all readers
ShareProphets is reader-supported journalism

Become a member starting at £6.99 per month for all articles, the Bearcast, and our seven year archive.


Subscribe to our newsletter

Daily digest of our latest stories.



Search ShareProphets

Market News

Complete Coverage

Recent Comments

That Was the Week that Was

 

AAU

Ariana – Surprise!

 

ANP

Anpario – a recovery Buy?...

Thursday »

Cat_Fixing_Lightbulb

Bearcast issue update: all should be well

 

ORCP

Oracle Power: Cynical Foul

Time left: 07:46:36