Monthly Account Fees
WHAT DOES IT MEAN TO HAVE MY OWN "PERSONAL FOUNDATION"?
GiveBack gives you a simple way to organize and manage your charitable giving. When you open an account at GiveBack, you're becoming part of the Give Back Foundation, a public charity that is registered with the IRS (EIN 26-2449481). Your account becomes your own personal foundation. You can accumulate dollars over time and when you're ready, give the money away to one charity or many.
WHAT IS THE DIFFERENCE BETWEEN A CHARITY AND A FOUNDATION?
A foundation, especially a GiveBack foundation, is different than a working charity. Think of your foundation as your charitable savings account. Your foundation account centralizes your charitable giving experience. Funds you deposit into your foundation account are immediately tax deductible. When you find a charity you want to give to, it's just a click away.
AM I ACTUALLY CREATING A REAL FOUNDATION?
When we say that you can "create your own foundation" it means that you can open a donor advised fund account. A donor advised fund account is a charitable giving vehicle administered by a third party (the Give Back Foundation with Give Back, LLC) and created for the purpose of managing charitable donations on behalf of an organization, family, or individual. A donor-advised fund account offers you the opportunity to create an easy-to-establish, low cost, flexible vehicle for charitable giving as an alternative to direct giving or creating a private foundation. Donors enjoy administrative convenience, cost savings, and tax advantages by conducting their grant-making through the fund. A donor advised fund account is not a private foundation as that term is defined by the Internal Revenue Code.
CAN I TAKE A DEDUCTION ON THE DOLLARS I PUT INTO MY FOUNDATION?
Yes. If you are putting your own money into your account (via credit card or other methods), you are making an irrevocable, tax-deductible gift to the Give Back Foundation. We then credit your account at GiveBack with the amount you deposited and you may then request that these funds be sent to the charity of your choosing using the GiveBack web site.
DOES IT COST ANYTHING TO USE MY CREDIT CARD?
At GiveBack, we pass on 100% of your donations to the charities you support. We cover our operations through our partnerships with corporate sponsors. However, when making a gift from your credit card, we charge a convenience fee to offset the costs associated with that payment channel.
CAN OTHERS DONATE TO MY FOUNDATION?
Yes- others can donate to your foundation, and you can transfer dollars from your foundation to others. Stay tuned!
IS GIVEBACK A NON-PROFIT?
The GiveBack web site is owned and operated by Give Back, LLC, a for-profit company. Give Back Foundation, a 501(c)3 public charity, works with Give Back, LLC to provide the donor advised fund services.
HOW ARE GIVE BACK, LLC AND GIVE BACK FOUNDATION RELATED?
Give Back, LLC (dba GiveBack) maintains the web site and technology that power the GiveBack platform. Give Back, LLC allows the Give Back Foundation to use the web site and assists with its marketing and operations. (Doing so keeps the overhead of Give Back Foundation very, very small.) Give Back Foundation pays Give Back, LLC for these services, but never out of the dollars that our members give to charities. Remember, 100% of what you donate goes to the charity or charities you designate.
Monthly Account Fees
Why does GiveBack charge me $1 each month for my account?
Prior to November, 2012, GiveBack has been free;100% of every donation has gone directly to your favorite charity. Our expenses? Funded by generous gifts from people who wanted to see giving grow and from the money Steve Paletta, our founder, won on Oprah’s Big Give. But, it's not enough. We need to move forward. We need to improve our technology and your experience, while keeping our core commitment to deliver 100% of your donations to each charity; and we need your help to do it.
What does the $1 charge cover?
$1 per month allows you to have the full services of GiveBack, including: • the record keeping, with one simple tax receipt for all of your giving • the ability to give to any charity whenever and wherever you want • the tools to raise money for your favorite causes with family and friends • the access to our 500+ merchant online mall where you earn cash-back with every purchase to easily cover this expense, and give more to charity
How does GiveBack charge me this $1?
Starting November 1st, 2012, and on the first of every month, we will charge $1 per month from your GiveBack account. You will see this transaction recorded under My Transactions on your Account Detail page.
How did I get a negative balance in my account?
If your account balance is zero when we attempt to make the $1 monthly charge, your account will show a negative balance when you log in, and on your account detail page. When you deposit money, or earn future rewards in your account, any negative balance will be cleared automatically, before you make your next donation.
Is there any way to offset my $1 charge?
Absolutely! GiveBack wants to grow your giving. That is why we have created GiveBack Reward programs that enable you to earn more to give each month. Your $1 is easily covered by GiveBack Rewards if you choose to participate in the programs. Download the GiveBack Shopping App. Sign up for GiveBack Texts and earn as much as $6 per month. Let’s work together to grow giving.
HOW DO I UPDATE INFORMATION ON A CHARITY??
We use GuideStar to provide information on charities. They help manage and verify the information provided. Please see this page on their site:?http://www2.guidestar.org/rxg/help/faqs/for-nonprofit-organizations/index.aspx?This information will then populate our site shortly after.
HOW LONG DOES IT TAKE FOR CHARITIES TO GET THE MONEY I GIVE?
To make things easier for charities (and for us), we send one check on a monthly basis, allowing about two weeks to process the transactions before we distribute the donations. Thus, the donations made in a given month should go out within the first two weeks of the following month.
CAN I GIVE TO CHARITIES IN CANADA?
Because of tax regulations, at this time GiveBack members can only support charities registered in the U.S. But there are likely many charities registered in the U.S. that are doing important work in Canada. Know of a few in particular? Let us know on our Facebook wall..
CAN I DONATE TO MY CHURCH OR OTHER RELIGIOUS ORGANIZATION?
Yes. If you don't see your church or religious organization listed when searching under "Find a Charity", please have someone from there register with GuideStar. Please see this FAQ on their site for more information:?http://www2.guidestar.org/rxg/help/faqs/for-nonprofit-organizations/index.aspx#faq1995.
IS THERE A MINIMUM DONATION?
On GiveBack, you can make donations of any amount. We can afford to do this because we take all of the small donations to a charity and bundle them together for easy payments. We may wait until a charity has at least $25 in donations before we send the charity a check as it costs the charity money to receive and process donations.
WHAT ARE CAMPAIGNS??
Campaigns are fundraisers created by members of GiveBack for a particular charity.
CAN I CREATE MY OWN FUNDRAISER??
Yes- every GiveBack member is able to start a fundraiser and share inspiring stories about particular charities. And right now you can raise money for any charity you wish just by sending your friends to the charity's page on GiveBack. Or if you are connected through Facebook, simply find the charity on GiveBack and "Like" it so that your friends can see that you support it.
DO YOU CHARGE CHARITIES ANYTHING?
Nope. Nothing. Nada.