Charity Gifts for Businesses: Start Free Charity Funds for Your Employees

April 9, 2020
Use cases

In a previous post we outlined what our new “Charity Gift” feature can do for individuals. 

We’d like to outline further what this feature can unlock for businesses and organizations. Any organization seeking to increase its influence with specific people (employees, B2B sales targets, conference attendees, members of a network, etc.) will find incredible value in utilizing Charity Gifts.

The extremely unique aspect of our Charity Gifts is ability for the organization to receive potential tax benefit for the whole charitable dollar amount (consult your tax advisor—we’re supposed to say this) and then share the charitable funds as a gift to many individuals as desired without creating any tax implications on anyone (transferring charitable funds within a donor-advised fund—advisory rights—delivers no monetary value legally). 

It’s no obstacle if your desired recipient is not yet a Charityvest user. In that event, our system will generate an email informing them of the Charity Gift and invite them to create an account. When they create their account it will be automatically seeded with the Charity Gift. They have 30 days to create their account before the funds are returned to the giver.

Charity Gifts open up capabilities for businesses and organizations to use charitable funds for various purposes. We believe this will simultaneously encourage more money to go to charity and help organizations toward their business goals. To use our Charity Gift feature, an organization only needs to sign up for a Charityvest account (an official of the organization signs up for Charityvest and links a corporate bank account), contribute into its Charity Fund, and send Charity Gifts out to desired receivers via an email address.

Ways in which organizations can utilize Charity Gifts:

  • 💰 Seed Charity Funds for employees as a benefit. A company can set up its own Charity Fund, contribute money, then send Charity Gifts to the Charity Funds of employees for them to grant out to nonprofits. This can be done for an unlimited number of employees in minutes. It makes employees feel like they can directly participate in the social mission of your organization.
  • 🥰 Send gifts to be remembered. If you’re trying to build a deeper relationship with someone, send them a gift that has no taxable value but is meaningful to the receiver. Be remembered for giving a gift that’s deeper than sending them a nice “thing.”
  • 🏆 Show appreciation and/or recognition. Incentivize high-achieving individuals and teams in your organization with a meaningful prize for their own achievements.   
  • 🎟 Support office fun with lotteries and/or prizes. Reward winners of office games and raffles with a fun way to support good in the world—everyone will be more excited to receive funds they can use for good in their name.
  • 🤝 Give a meaningful conference gift. Instead of pens and hats people will likely not use, send conference attendees a Charity Gift from you. You’ll be remembered for your gesture. You can do this at any strategic timing you choose during a conference.
  • 🎤 Facilitate live event giving. If you’re looking to get everyone at a live event to give at the same time, invite them to Charityvest by issuing a Charity Gift.

We hope you have as much fun as we’ve had with this feature. It is our aim to help more people experience the joy of giving.

If we can help your organization roll out Charity Funds for your organization or event, or you’re interested in learning more, please email us at support@charityvest.org.

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Stephen Kump

Stephen is the chief of promoting generosity @ Charityvest. Former Bain consultant, philanthropic advisor, and military officer. Yale MBA.

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