Glossary

crowdfunding

A relatively new method of raising funds, usually online. A specific project, activity or item is described, with a target amount that will pay for it. Supporters are then invited to pledge money to make it happen.

direct mail

Fundraising appeals sent by post.

endowment funds

Money given or left to the charity from someone’s will. Charity law specifies how this money can be used.

open market

An unrestricted market where any buyer or seller can trade goods and services. In the case of the voluntary sector, usually voluntary organisations develop the goods or services first, then advertise and sell them to individuals or other organisations.

purchaser

The individual or organisation that is purchasing goods or services via a contract. Often also called the ‘commissioner’.

street fundraising

When charities ask for donations, either immediate or subsequently by direct debit, from people on the street.