Overview:
This article explains how grant payments are delivered from Assetmark Charitable to nonprofit organizations. Grants are delivered electronically whenever possible through our partner, Chariot, which enables faster and more secure payments. If electronic delivery is not available for a particular organization, payments are sent by check.
Donors and advisors do not need to request ACH setup. Grant payments are delivered electronically by default whenever possible.
How does my charity receive their grant payment?
When a grant is initiated, we will always attempt to deliver the payment via electronic delivery through Chariot.
Nonprofits with a claimed and verified Chariot Account receive funds via electronic delivery after the grant is approved.
If an organization does not yet have a Chariot Account, they are notified immediately and given the opportunity to complete setup to receive funds securely & electronically.
If electronic delivery cannot be completed (for example, if the organization does not complete setup within the required timeframe), the grant payment will be delivered via check.
If a future grant is initiated to the same organization, we will again attempt electronic delivery unless the organization is already enabled.
Once an organization is successfully set up for electronic delivery, this status will be reflected within the platform, and all future grants will be delivered electronically.
Why Assetmark Charitable partners with Chariot
Chariot sets a new industry standard for grant payments and improves the experience for nonprofits, donors, and advisors.
Speed
Funds are delivered instantly to nonprofits with a verified Chariot Account.
Median time from grant submission to funds received:
Overall: 2 days
Electronic delivery: 0 days
Security
Reduces fraud risk through secure digital payments and advanced fraud detection.
Eliminates mailed checks when possible.
Provides enhanced check security when checks are required (positive pay, stop-pay capabilities, geo-tracking, and address re-verification).
Better nonprofit experience
Grant funds and structured gift details arrive together in one place.
Clear, consistent data allows nonprofits to reconcile grants faster and acknowledge donors with confidence.
Today, over 85% of grant payments within Chariot’s ecosystem are delivered electronically.
How can an organization ensure electronic delivery?
Nonprofits do not need to wait for a grant to be initiated to get started.
Organizations can proactively claim and set up their Chariot Account to ensure they are ready to receive grant payments electronically.
Completing setup in advance helps ensure instant delivery once a grant is approved.
Important timing & delivery details
Organizations with a claimed and verified Chariot Account receive funds instantly once grants are approved.
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.
How can I check the status of my grant?
You can track grant delivery directly within the platform under the "Transactions History" tab
Payment Method will indicate whether the payment was delivered electronically or via check.
Visibility into an organization’s electronic payment eligibility remains visible on their charity page, consistent with the experience donors and advisors are accustomed to.
Grant letters, notifications, & records
Organizations receive grant notifications and an accompanying grant letter around the time funds are delivered.
Electronic payments include structured grant details alongside the funds, reducing reconciliation effort.
Bank statement descriptions may vary depending on the receiving institution.
Below is an example of the grant letter that is sent to the charity around the time the charity receives the funds (this can be a couple days before or after). The email will be sent from operations@tifingive.com:
How Funds Appear in Chariot & Bank Accounts
Funds are deposited directly into the nonprofit’s Chariot bank account.
Grant funds and structured gift details appear already reconciled within the Chariot dashboard.
Organizations receive both payment and gift information together in a consistent format
The nonprofit can transfer funds from their Chariot bank account to their external operating bank account (e.g., Wells Fargo) at their convenience.
The transfer will appear as an internal transfer, such as: “Nonprofit Chariot Bank Account” → “Nonprofit Wells Fargo Bank Account”
This structure allows organizations to receive funds instantly with full transparency, while maintaining control over when funds are moved into their primary operating account.
Note: What is displayed on bank statements is dependent on what the receiving bank chooses to display.