Overview
This resource explains how charities can set up a Chariot account to receive grant payments electronically. Donors and advisors may share this guide with organizations that receive grants through Assetmark Charitable. By using Chariot, nonprofits can receive grant funds quickly and securely while accessing the associated grant details in a single place.
What Is Chariot?
Chariot is a modern, nonprofit-friendly digital payment platform that we partner with to deliver grant funds and gift details electronically.
Instead of waiting for paper checks or reconciling an ACH payment with a separate grant letter, organizations can receive grant funds instantly in a Chariot Account — alongside all relevant grant information, in a consistent and structured data format shared across grantmakers using Chariot.
Benefits of Receiving Grants Through Chariot
Speed — Get funds instantly once approved
No waiting for checks to arrive or ACH transfers to settle. Once a grant is approved, funds are delivered directly to the nonprofit’s Chariot Account.
Security — A new standard for nonprofit payments
Fraud related to checks and ACH transfers is on the rise. Chariot minimizes risk by:
Transferring funds through a secure financial platform
Eliminating mailed checks when possible
Removing the need to share sensitive banking information outside of a trusted system
Simplicity — Funds and grant details, together
Grant payments and structured gift data arrive at the same time, in the same place. Finance and development teams can access everything they need in one centralized dashboard, with easy export options.
How Chariot Works
Claim Your Chariot Account
A designated Control Person from your organization verifies their personal information.Connect Your Bank
Securely link your organization’s external bank account.Receive Grants
Grant funds and gift details arrive instantly in your Chariot Account once approved.Transfer Seamlessly
Move funds from Chariot to your external bank account at your convenience.
Getting Started
Helpful resources:
Important Timing & Delivery Details
Organizations with a claimed and verified Chariot Account receive funds instantly.
Account verification typically takes 1–3 business days after submission, though follow-up items may occasionally be requested.
If an organization does not claim its Chariot Account within 5 days of receiving a grant through Chariot, a paper check will be mailed instead.
FAQ
Is Chariot a bank?
No. Chariot is a financial technology company. Chariot Deposit Accounts are Demand Deposit Accounts provided through Column N.A., Member FDIC. Deposits are eligible for FDIC insurance up to $250,000 per depositor, per insurable capacity.
Who can serve as an organization's control person?
A Control Person is an individual with significant responsibility to control, manage or direct your nonprofit organization or financial operations (e.g., C-Suite, VP of Finance, etc.). They may be listed on your IRS Form 990 or have signatory authority. This person must complete Compliance Verification and will become your Chariot Account Owner—the only person authorized to link an external bank account.
To invite a new user to serve as Control Person, add them as an Administrator and have them complete verification.
Why is it necessary to provide the Control Person's personal information?
To comply with federal regulations, Chariot must collect identifying details (like SSNs) for your Control Person. This data is securely encrypted and managed with the highest security standards.
Chariot Deposit Accounts are offered in partnership with our bank partner, Column N.A. In accordance with federal law—including Section 326 of the US PATRIOT Act—all US banks are required to implement a Customer Identification Program (CIP) to help prevent money laundering and the financing of terrorist activity.
We collect personal information—such as Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN)—solely to verify the identity of the Control Person. This information is used solely for identity verification and is never shared or used for any other purpose (e.g., a credit check).