To: National Circuit
Contact: Mark W. Weller, Americans for Common Cents (www.pennies.org)
(202) 312-7426
Building Communities and Improving Lives One Penny at a Time – Charitable Groups Earn Millions Annually Through Penny Drives
July 2 – American charities raise money in a variety of ways:
annual funding drives, tax-deductible donations, and corporate
sponsorship are just a few. However, one of the most important ways
charities raise funds is through coin drives that motivate large numbers
of citizens to make small donations that add up to big dollars. Coin
drives, especially those that raise money through penny collection
events, are an important element in many charities’ fund raising
success, according to Mark Weller, Executive Director of Americans for
Common Cents.
“News this week of a California man’s difficulty
cashing one million collected pennies overlooks the coin’s true
utility,” says Weller whose organization works to educate the public on
the value of the penny. “Our focus should be on the good news that the
penny helps charities raise millions of dollars annually, and the coin’s
value is demonstrated in the positive role it plays in our
communities,” according to Weller. Penny collection events are an
important element in many charities’ fund raising successes.
For those looking to donate pennies, there are several options. Six
million students nationwide collected more than $13 million through The
Leukemia & Lymphoma Society’s School & Youth programs, like
Pennies for Patients. Since 1994, these programs have raised more than
$68 million. “School children collecting spare change directly impact
the Society’s ability to provide crucial support to patients and their
families and fund leukemia, lymphoma and myeloma research,” according to
Nancy Klein, SVP, Marketing, from the Society.
And one need
look no further than a local McDonald’s, where coin receptacles benefit
the Ronald McDonald Children’s Charities. UNICEF, the Salvation Army
and other charitable groups also rely in great part on the collection of
pennies to fund their operations. The value of pennies adds up. A
counting study conducted by the 7-11 convenience store chain found that
one-third of all the money collected in store collection receptacles can
be attributed to the penny. In 7-11’s situation, it amounted to $1
million of the $3 million donated in one year.
Not only are
coin drives an important element in many charities’ fundraising success,
they also help elementary and secondary school students learn values
that benefit others. The power of the penny in benefiting communities
is a phenomena that we see repeated every day. No less than a dozen
efforts to raise one million pennies are under way this year alone at
U.S. elementary and secondary schools.
Penny harvests, like
those run by charitable groups and school kids, rely on simple, yet
critical, cent contributions to raise millions annually for great
causes. Coin drives that motivate large numbers of citizens to make
small donations of their pennies add up to big dollars and truly benefit
others.
The penny remains an important fund raising tool for many
of these groups and helps energize their base. For those seeking to
donate the spare change, just look around. The best place to benefit
others may be closer than you think at a local school or convenience
store.
Americans for Common Cents is a broad-based coalition of
business, charitable, and numismatic organizations dedicated to keeping
the penny. The coalition was formed in 1990 in response to
Congressional threats to eliminate the one-cent coin.