Funding Options for Your Charity Challenge - Payment Options Explained!
Are you ready to take on a challenge? Whether you're planning to climb the world’s highest freestanding mountain or cycle across Europe, choosing a payment option is an important decision that you’ll need to make when you sign up.
The right payment option for you will depend on a few different factors – whether you want to support a charity, whether you’re confident you can raise a set amount of sponsorship, plus the date of your challenge, will all contribute to your choice.
In this journal, we'll explain the difference between our two payment options so you can select the one that’s right for you. If you’re still unsure by the end, don’t panic – we’ve created a short quiz so you can be certain!
Minimum Sponsorship - Payment Option A
- With this option, your chosen charity will pay the cost of your place on the event using the sponsorship you have raised.
- The minimum amount of sponsorship you will need to raise is shown when you sign up.
- The amount shown is equivalent to double the cost of your challenge place. This ensures that your charity keeps an amount equal to at least the cost of your place on the challenge.
- Anything you raise over the minimum amount will be retained by your charity!
Most people choosing this option will sign up a year in advance to allow time to fundraise, but this isn’t set in stone! Some events have a lower minimum sponsorship amount, and you might feel that you can raise the required amount in less than a year.
The following infographic shows the timeline of what will be due and when, if you choose to fund your challenge place through sponsorship:
*For the challenges listed below, 80% of your minimum sponsorship must be received by your charity no later than 6 weeks before departure:
- Snowdon at Night Trek
- Hadrian’s Wall 25KM Trek
- Peak District Trek 25KM
- Ben Nevis at Night Trek
- Yorkshire 3 Peaks Trek
- Hadrian’s Wall Trek
What happens if I choose Minimum Sponsorship, but struggle to meet my target?
Firstly, don’t panic! You’ll need to raise 80% of your minimum sponsorship by 12 or 6 weeks beforehand (depending on your chosen challenge), so the charity will be aware if it looks like you are not going to reach your target. There would be two options available:
- You could make up any shortfall in sponsorship yourself
- You could transfer to a future challenge to give you more time to fundraise (there is a small fee to transfer).
If you are worried then please let the us or the charity know as soon as possible - we have many tried and tested methods that can help you succeed!
Self-Funding - Payment Option B
- With this option, you’ll pay for the challenge yourself with no need to fundraise for a charity.
- You can still raise funds if you’d still like to, but there will be no minimum set and anything you do raise will be kept by the charity.
The following infographic shows the timeline of what will be due and when, if you choose to pay for your challenge place yourself:
*For the challenges listed below, the challenge balance invoice is to be paid no later than 6 weeks before departure:
- Snowdon at Night Trek
- Hadrian’s Wall 25KM Trek
- Peak District Trek 25KM
- Ben Nevis at Night Trek
- Yorkshire 3 Peaks Trek
- Hadrian’s Wall Trek
Help - I still don't know which payment option to choose!
Don't panic! We've created the quiz below to help - just answer a few quick questions to see what we'd recommend for you.
Ready to start your adventure? Click the button below to see all our challenges!
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