Donor Advised Funds are complex, and not very well known to the public, so it makes sense that you have questions. We aim to be transparent in our approach and in our communications. Check out our frequently asked questions below, or write us a note at firstname.lastname@example.org
+ What Is GivingFund?
GivingFund is nonprofit organization registered in the state of California. More specifically, we are a Donor Advised Fund, which is a specific class of nonprofits whose main purpose is to donate money to other nonprofits. Our mission is to help people give more and give more strategically.
+ How do you make money?
Many Donor Advised Funds charge a fee for the account, fees for executing donations, and/or investment fees. To us, that sounds like a lot of fees, and “charging someone to give money away” works against our mission to engage more people in philanthropy. Instead, we use a two-part profit-sharing model. First, we retain the gains from cash that sits unused and unallocated to a specific impact investment - that is, the money that’s sitting in your rainy-day fund, waiting for you to donate it to a cause. Second, if you elect to put some of your Donor Advised Fund in an impact investment, and that investment is successful, we share some of the gains with you. We’re able to do this, instead of charging a fee, because GivingFund itself is a nonprofit organization.
+ So Are you a Bank?
No! GivingFund is not a bank. We’re also not investment advisers, and we don’t provide investment advice. When you contribute to your GivingFund, you are effectively donating it to GivingFund, a nonprofit organization, and then advising GivingFund on it should do with that money - be it invest it, or give it away.
+ What types of organizations can I give to with givingfund?
With GivingFund, you can donate to any registered 501(c)3 organization. We don’t discriminate on the type of organization, because we want you to have the freedom to donate to the causes most important to you. That being said, if we can’t determine that the organization is a 501(c)3 nonprofit, in good standing with the law, then we can’t - by law! - execute your donation. That means technically, every time we donate, we accept your advice on where to donate it, but reserve the right to tell you we can’t, if the organization can’t be verified. We take this part of our business very seriously, so we avoid any chance of funding terror groups, or con artists.
+ How are you different from other donor advised Funds?
In addition to charging reduced rates, GivingFund also has the lowest minimums among Donor Advised Funds. Typically, you need at least $5,000 to start a Donor Advised Fund. We’re able to operate at lower costs, because we’re completely digital. Whereas high-net-worth clients typically required extremely high-touch services and complex financial investments, we use technology to execute our transactions, and partner with other fintech social enterprises to provide low-cost investment solutions, that also have a positive impact on the world.
+ How can I sign up?
Right now, we’re testing our product with a small group of users, and refining our experience based on their feedback. In the meantime, you can sign up for our mailing list and join the waiting list for the product. We’re always actively looking to talk to future users and passionate philanthropists, so you can also write us a note at email@example.com