The funds donated (“the Funds”) are paid using SportsGiving an established third party platform used by many leading charities and organisations for fundraising. The Funds are held in a client account and a Governance Board will be established in each jurisdiction which will approve all payments from the Funds in the client account.
The Jersey Governance Board (“the Governance Board”) will constitute 3 Jersey resident individuals with an accountancy or legal background - names will be confirmed shortly. The role of that Governance Board will be to ensure that the Funds held in the client account are used only to be paid to Caring Cooks Jersey or for food vouchers to be used for the benefit of the intended recipients i.e. frontline healthcare professionals. The individuals on the Governance Board will not be remunerated.
In Jersey, 20% of net donations will be paid directly to Caring Cooks Jersey and 80% of net donations will be paid to purchase vouchers from Fetch.je and other Jersey based approved food delivery partners.
For the the £100,000 target there is an anticipated cost of 5%. The online fundraising platform and payment collection costs are 3.5% of the donation and this includes all card processing fees. 1.5% is being set aside to cover the cost of an administration person for £100 a week for the initial 12 weeks. All work to set up the platform has been done free of charge by all parties involved and will continue to be provided on that basis. Should there be any funds remaining at the end of the initial 12 week period then the balance will be paid to Caring Cooks Jersey.