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One of the fundamental principles behind working at Comic Relief is the 'Golden Pound Principle' where every single donated pound is spent on charitable projects. All operating costs, such as staff salaries, are covered by corporate sponsors or interest which is earned while money raised is waiting to be spent (granted) to charitable projects.
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Red Nose Day is the main way in which Comic Relief raises money. It is held in the spring every other year and is often treated as a semi-holiday, with, for example, schools having non-uniform days. The day culminates in a live telethon event on BBC1 starting in the evening and going through into the early hours of the morning, but other money-raising events take place. As the name suggests, the day involves the wearing of plastic/foam red noses which are available, in exchange for a donation, from many shops