Virgin Money Giving, a donations-processing website launched in 2009, will cease accepting donations on Nov. 30 and wind down operations. Virgin Money Giving, which was created to aid in processing charity donations made on behalf of London Marathon participants, is part of Edinburgh, U.K.-based Virgin Money, a banking and financial services brand.
Closing the service will be felt beyond organizations helped by London Marathon-based fundraising. According to Virgin Money’s website, the organization has aided 20,000 charities and more than one million fundraisers in generating more than £900 million in 2021 and more than $1.2 billion during its existence.
Virgin Money Giving was originally created as part of Virgin Money’s sponsorship of the London Marathon. The service was meant to provide a low-cost player in the online fundraising market. Virgin Money is ending its sponsorship of the London Marathon after the 2021 event.
“Following the end of our sponsorship of the London Marathon, it is the right time to bring the service to a close and help our charity partners to move to an alternative and sustainable giving platform,” Virgin Money Chief Brand Officer Helen Page said in a statement.
The decision to shutter the nonprofit came after Virgin Money conducted a strategic review of its operations. The organization determined the investment required to maintain the service, coupled with recent changes to the marathons that did not allow for the robust branding opportunities of the past, made the platform no longer viable.
In 2020, the mass-entry marathon was cancelled, and only a few score of elite marathoners were invited to compete. In 2021 the event, which is usually held in April, was postponed until Oct. 3. Current plans call for mass participation, pandemic restrictions allowing.
Virgin Money Giving will continue offering its services for charities and fundraisers through Nov. 30, and will aid nonprofit organizations in finding alternative platforms when needed. According to a statement from the organization, many charities registered on Virgin Money Giving already have agreements with other fundraising platforms.
Employees within Virgin Money Giving will be transitioned, when possible, to other roles through Virgin Money, although the organization indicated that up to 26 positions could be eliminated.