GB2351366A

GB2351366A - Facilitating the accumulation of money for donation

Info

Publication number: GB2351366A
Application number: GB9904158A
Authority: GB
Inventors: Angus Duncan Mccallum
Original assignee: Individual
Current assignee: Individual
Priority date: 1999-02-23
Filing date: 1999-02-23
Publication date: 2000-12-27
Also published as: GB9904158D0

Abstract

The invention concerns a method for facilitating the accumulation of money for donation, in particular to charities. The method comprises the steps of designating as a first portion the amount of a monetary value which is below a pre-selected denomination, designating as a second portion the amount of the value including and above the pre-selected denomination, and recording or storing the first and second portions separately. The first portion is the donation and is accumulated in a central account. The monetary value may represent a salary, a debt, a bill or a price.

Description

2351366 NOVEL METHOD The present invention is concerned with a method for

facilitating the accumulation of money for donation, in particular to charities.

Many charitable organisations rely largely upon monetary donations for financial support. In the UK, a number of charities benefit from the regular donation by various companies of a small part of their pre-tax profits. Donations from private individuals also constitute a very important source of income for charitable organisations. However, since the introduction of the National Lottery in the UK it is estimated that regular charitable giving from the public has fallen by around E200 million. With the weekly expense of purchasing lottery cards, many households may have decided to dispense with the additional outlay of charitable giving.

The GAYE ("Give As You Earn") scheme was established with a view to facilitating regular charitable giving. This scheme involves arranging for the regular deduction of a given amount of money from an 2 employee's salary, and the diversion of this amount each month to a designated charity. The GAYE scheme is, however, fairly complex to administer, requiring as it does the establishment of an individual "direct 5 debit" from each participating employee's salary.

There exists, therefore, a need for a method for facilitating the accumulation of money for regular charitable giving, which method is simple and therefore relatively inexpensive to administer.

Accordingly, there is provided a method for dividing into first and second portions an item of numerical data which represents an amount of money, comprising the steps of designating as a first portion the amount of said item of numerical data which is below a preselected denomination, designating as a second portion the amount of said item of numerical data including and above said pre-selected denomination, and recording or storing said first portion and said second portion separately. Advantageously, said preselected denomination is the unit. Said pre-selected denomination may however be tens, hundreds or thousands of units, or any other appropriate denomination.

&L 3 Preferably, said first portion is deducted from said item of numerical data and is stored or recorded in a central location, which central location may constitute a bank or building society account. Said first portion may be added cumulatively to numerical data in said central location.

The present invention further provides a method for accumulating in a central location such as a bank or a building society account a portion of each of two or more individual items of numerical data, each of which items represents an amount of money, which method comprises the steps of designating as a first portion of each of said items of numerical data the amount of said item below a pre-selected denomination, deducting said first portion from each respective item of numerical data, and storing or recording said first portion of each item of numerical data cumulatively in said central location.

In a preferred embodiment, at least one of said items of numerical data represents the salary of an employee. one or more of said items of numerical data may represent an amount of a debt, an amount of a bill, and/or a price.

4 The invention further provides means arranged for putting the above methods into effect. Said means will preferably comprise processing means for designating said first and second portions of said item of numerical data, and recording or storing means for recording or storing said first and second portions separately.

Following is a description, by way of example only, of specific embodiments of the present invention.

In most companies, the salaries of employees are paid on a monthly basis and the payroll is administered by a payroll computer program. In accordance with the present invention, means may be provided for identifying the net salary amount of each consenting employee, designating or identifying that portion of the net salary amount which is below a pre-selected denomination, deducting the designated portion from said net salary amount and adding the designated portion to a central store such as a bank or building society account. This means will usually make use of a computer program, which computer program may be written into the payroll computer program or may be arranged to operate in conjunction with the payroll U i computer program The pre-selected denomination will usually be the unit. Thus, where the net salary amount of a consenting employee is (for example) E1435.64, the designated portion of the net salary amount will usually be EO.64.

However, said pre-selected denomination may alternatively be tens, hundreds or thousands of units.

Thus, where the net salary amount of a consenting employee is E1435.64, the designated portion of the net salary amount may be E5.64, or E35.64, or E435.64, as appropriate. A higher pre-selected denomination may be appropriate where the salary amount is expressed in a currency in which the unit is of small value (such, for example, as the Italian lira).

where the number of consenting employees is high, a significant amount of money may accumulate each month in said central store. This amount of money may be invested to earn interest, and/or transferred or distributed to chosen recipients such as charitable bodies.

6 The present invention may also be put into effect by any person in receipt of at least one sum of money such as, for example, a credit card company, or a retail or service company. The sum of money may be in settlement of a debt or a bill. In accordance with the present invention, means may be provided for designating that portion of the sum of money which is below a pre-selected denomination, deducting the designated portion from the sum of money, and adding the designated portion to a central store such as a bank or building society account.

AL W i I i 7

Claims

1 A method for dividing into first and second portions an item of numerical data which represents an amount of money, comprising the steps of designating as a first portion the amount of said item of numerical data which is below a pre-selected denomination, designating as a second portion the amount of said item of numerical data including and above said pre- selected denomination, and recording or storing said first portion and said second portion separately.

2 A method as claimed in claim 1, wherein said pre selected denomination is the unit.

3. A method as claimed in claim 1 or claim 2, wherein said first portion is stored or recorded in a central location.

4. A method as claimed in claim 3, wherein said first portion is added cumulatively to numerical data in said central location.

8 5. A method for accumulating in a central location a portion of each of two or more individual items of numerical data, each of which items represents an amount of money, which method comprises the steps of designating as a first portion of each of said items of numerical data the amount of said item below a preselected denomination, designating as a second portion of each of said items of numerical data the amount of said item including and above said pre-selected denomination, storing or recording said second portion of each item of numerical data separately, and storing or recording said first portion of each item of numerical data cumulatively in said central location.

6. A method as claimed in any of claims 3-5, wherein said central location constitutes a bank or building society account.

7. A method as claimed in any preceding claim, characterised in that at least one of said items of numerical data represents an amount of a salary.

B. A method as claimed in any preceding claim, characterised in that at least one of said items of numerical data represents the net quarterly, monthly 9 or weekly salary of an employee.

9. A method as claimed in any preceding claim, characterised in that one or more of said items of numerical data represents an amount of a debt, an amount of a bill, and/or a price.

10. Processing means arranged for putting the method of any preceding claim into effect, which processing means comprises designating means for designating said first and second portions of said item of numerical data, and recording or storing means for recording or storing said first and second portions separately.

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