Why have you decided to make this change?
Better Giving is committed to helping nonprofits become more financially resilient, and these changes enable you to chart your own path there! We have added a convenient high-yielding option to help grow your savings alongside our existing Sustainability Fund for long term planning. You now have three options with every donation received; immediate ‘Grant’ to your provided bank account, ‘Savings’ (high-yield), and ‘Invest’ (Sustainability Fund). Based on your needs over time, you have the power to customize this ratio and strategically use your funds as you wish!
These changes will be made on the 24th of September.
Do we need to do anything new?
The only change required is to set your default Donation Distribution found within your NPO Dashboard. We have provided preset options to make the decision easier, while also keeping our sliding bar for full customization. Whatever change you make now will take effect Oct 1, 2024 - for simplicity, everything is now based on a month-end date.
Do I need to change the sustainability fund donation splits on the embedded form?
You will not need to make any changes to the embedded donation form.
We will be pushing an update on our end that will be reflected on your form, no additional work required for you. It is important to note, the Sustainability Fund donation split will now be in your hands as opposed to the donor. We believe you should have full agency in how your donations are directed and used for growth. That is the impetus for this upgrade.
How do we manage the funds?
We offer three distinct pathways for donations.
Donations earmarked for ‘Grants’ are batched monthly and sent to your provided bank account at the beginning of the following month the donation was received. For example a donation received on September 19th will be sent to your bank account on October 1st.
Donations earmarked for ‘Savings’ are deployed in a Money Market account in partnership with Fidelity Investments. This is passively managed with an expected APY of 4-5%.
Donations earmarked for ‘Investments’ are deployed in our Sustainability Fund. The Sustainability Fund is managed by our Investment Committee with a team of expert investment advisors. We currently offer one Fund option that comprises (50%) Domestic and International Equities (30%) Fixed income, (15%) Bitcoin and Ethereum (5%) cash. The fund is rebalanced monthly. We will also be introducing risk and theme based investment options in the future to provide more options to you!
Can we see what proportion of our account is from donations and what from yield?
Yes. We are in the process of building out an ‘Insights’ view that will detail total donation history, donation count, and donation performance across Savings and Investments. This will provide visibility into how your donations have grown to help you make informed decisions.
Can we withdraw funds at any time?
You can create a Withdrawal Request at any time across any of the Grant, Savings, and Investments buckets. This will be batched and processed on a monthly basis. You can also transfer funds across Savings and Investments on a monthly basis.
When do we start receiving yield?
Yield and growth from the Savings and Investments accounts are automatically compounded. This is reflected in your total Savings and Investments balance shown on your Dashboard and will be updated at the end of each week. You can create a Withdrawal Request at any time to distribute these gains to your bank account.
What are the minimum amounts needed for a grant?
We only have one minimum requirement across Grant, Savings, and Investments. Grants must be $50 or more to be processed. This is to minimize any third-party processing fees to ensure you get the most out of your donations. These requests will be processed monthly.
What minimums are needed for transfers between funds?
There are no minimums needed to transfer between Savings and Investments. These requests will be processed monthly.
If you have any other questions, please use the chat and we'll get back to you as soon as possible.