CharitEx Expands Online Financial Services for Nonprofit Organizations.Business Editors NEW YORK--(BUSINESS WIRE)--Dec. 19, 2000 Combining Internet Fundraising with Streamlined Cash Management Reduces Administration Costs and Increases Contributions CharitEx, Inc. announced the establishment of the first online financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. platform to provide integrated digital solutions for charitable nonprofit organizations Nonprofit Organization An association that is given tax-free status. Donations to a non-profit organization are often tax deductible as well. Notes: Examples of non-profit organizations are charities, hospitals and schools. . Total charitable contributions in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. will exceed $200 billion in the year 2000. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. industry analysts, however, on average only 66 percent of this money reaches the programs it is intended to benefit. While traditional mailing and telemarketing telemarketing, the practice of selling goods or services to customers by means of the telephone or of surveying consumer preferences in telephone conversations. campaigns successfully generate substantial donation flow, they also create administrative processes that are expensive and inefficient, consuming as much as 34 percent of contributions. CharitEx helps solve this problem with rapid turnkey implementation of Internet solutions that streamline the donation process, generate higher levels of contributions, and reduce administrative costs administrative costs, n.pl the overhead expenses incurred in the operation of a dental benefits program, excluding costs of dental services provided. . Furthermore, CharitEx charges no start-up or implementation fees to clients as its own revenue model is driven by win-win solutions with a nominal three percent processing fee derived from each online transaction; this equates to a fraction of traditional costs. "Leveraging consumer adoption of the Internet and deploying a digital strategy for integrating fundraising, reporting, and cash management is essential for nonprofits seeking to adopt efficient business processes," said Peter Martino, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CharitEx (and former president of XRT XRT A symbol used specifically upon the consolidated tape to indicate a security trading ex-rights. Notes: Typically, a stock will depreciate in price immediately after rights offering expires. , the largest provider of corporate treasury systems in the world). "CharitEx has merged Internet enabling technology for fund raising with "best practice" cash management tools to help charitable nonprofit organizations raise and optimize funds through more efficient financial management." While many charitable nonprofit organizations (known as 501(c)(3) organizations) have established web sites, recent reports indicate that less than 20 percent of these 700,000 U.S. charities have the ability to even accept online donations. Even fewer have adopted a digital strategy for conducting online campaigns. CharitEx provides the Internet infrastructure of financial and reporting tools that integrate fund raising with digital campaigns, accommodate increased visitors to these sites, capture and process contributions and pledges electronically, and generate real-time reports for both nonprofits and their donors. About CharitEx CharitEx brings 100 years of technology expertise and 75 years of banking and corporate cash management experience to the charitable nonprofit world. CharitEx is the first online financial services company to provide an Internet infrastructure for integrating digital strategies for fundraising with cash management. These solutions streamline the donation process, improve overall financial management, and reduce costs, ensuring that more contributions reach their intended beneficiaries. The CharitEx Alliance Network includes providers of financial, technology and consulting services. CharitEx has offices in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. and in the Philadelphia and Washington D.C. areas. For more information, visit www.charitex.com. |
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