ATLANTA, Aug. 23, 2004 (PRIMEZONE) -- Schoolpop, Inc. (www.schoolpop.com), the leading provider of nontraditional fundraising programs for schools and nonprofits, announced today the launch of a suite of new programs that will redefine the multi-billion dollar school fundraising industry by turning everyday shopping into a financial support mechanism for schools and nonprofit organizations. Schoolpop is a subsidiary of LoyaltyPoint, Inc., a public loyalty marketing company (OTCBB:LYLP).
School and nonprofit fundraising programs are big business in the United States, estimated to be a $30 billion industry. A national survey conducted by the National Association of Elementary School Principals (NAESP) revealed that over 90 percent of schools raise supplemental funds and 72 percent average yearly earnings of $10,000 to $25,000 through an average of three fundraising programs.
"Our year-round program suite is simple, convenient, and rewarding for schools, parents, and supporters," said Mickey Freeman, president of Schoolpop. Now parents and supporters can shop with Schoolpop and let everyday purchases from hundreds of community-minded merchants contribute a percentage to schools and nonprofits without a lot of work, distraction or child involvement."
How Everyday Shopping Contributes to Schools and Nonprofits
Schoolpop reports that it has developed a suite of innovative and easy to manage programs that contribute a percentage of everyday shopping purchases to a school or nonprofit of a parent or supporter's choice. Every purchase, whether it is weekly groceries, gas or gifts made online, in stores, through catalogs or using stored value cards, generates a cash-back contribution of up to 50 percent of the retail price, to a designated school or nonprofit.
Schoolpop's strategy centers on a robust product suite and a proprietary multi-million dollar technology platform that provides scalable shopping and customer support by seamlessly connecting online and offline schools, nonprofits, parents, supporters, and volunteers with merchants. The product suite includes the following:
- Scrip & Earn: "scrip" - or prepaid merchant card program - is highlighted by the exclusive AEIS (American Express Incentive Services, LLC) prepaid merchant cards that can be used at select American Express merchants for everyday and special purchases; contributes up to 5% of purchases.
- Shop & Earn: online, store, and catalog shopping with hundreds of Schoolpop merchant partners; contributes up to 18% of purchases.
- Charge & Earn: run in conjunction with Bank One, Charge & Earn offers a Schoolpop Visa credit card that contributes one percent back with every purchase.
- Auction & Earn: run in conjunction with eBay Giving Works, allows parents and supporters to donate high-value, unwanted goods to their school or non-profit; Schoolpop lists the product on eBay and 50% of the selling price goes to the school or non-profit; donors may receive a tax donation for donated items.
- Supply & Earn: back to school, student supply program that lets parents purchase their specific school's requested school supply list online, offering convenience and a stress-free approach to student supplies; contributes 10% of every purchase.
Schoolpop Expansion
Schoolpop, which has completed six mergers and acquisitions in the past 15 months, has expanded its customer base to over 50,000 enrolled schools and nonprofits, one million supporters and 300 community-minded, brand-name merchants.
Schoolpop has been active on other fronts as well. As a subsidiary of LoyaltyPoint, Schoolpop benefited from LoyaltyPoint's announcement on August 16 that Accel Partners, a major Silicon Valley venture capital firm, led a $4M funding round and became a major investor in the Company. Concurrently, the Company announced a five-year, exclusive strategic partnership with AEIS.
About Schoolpop Inc.
Schoolpop is America's leading provider of nontraditional fundraising programs with more than 50,000 schools and nonprofits enrolled nationwide. Schoolpop's programs contribute a percentage of everyday shopping purchases from parents and supporters, who can conveniently shop from hundreds of brand-name merchant websites, stores, catalogs and gift cards. Schoolpop's suite of programs have resulted in over $200M in contributions, furthering Schoolpop's mission to eliminate the negative impact of budget shortfalls by providing a one-stop shop for schools and nonprofits to enroll in a suite of nontraditional fundraising programs that are hassle-free for schools, convenient for parents and safe for students. Schoolpop partners with hundreds of world-class, community-minded merchants and sponsors the Share the Dream Foundation, providing merit and financial need-based scholarship programs for students. For more information, visit: (www.schoolpop.com).
About LoyaltyPoint, Inc.
LoyaltyPoint, Inc. is a loyalty marketing company for merchants, schools, and nonprofits. The Company markets online, gift card, store, catalog, and event-based loyalty programs that generate contributions to schools, nonprofits and other organizations, based upon parent and supporter purchases. Please visit us at: (www.loyaltypoint.com).