What is a Commercial Co-Venturer (CCV)?
A CCV is a business that donates a percentage of its sales to a nonprofit, often referred to as a "cause marketing campaign" or "charitable sales promotion."
Why do businesses need to comply with CCV regulations?
Compliance ensures legal operation and avoids fines, penalties, and reputational damage associated with non-compliance in states with specific CCV laws.
What are the benefits of CCV campaigns?
CCV campaigns support charitable causes while promoting the business’s products or services, enhancing brand image and customer engagement.
What services does Change provide for CCV compliance?
Change offers a simplified compliance process, including a single CCV agreement, state registrations, renewals, and reporting, along with access to a donation platform.
What is Our Change Foundation, and how does it help?
Our Change Foundation is a 501(c)(3) donor-advised fund that acts as the nonprofit on record, allowing businesses to avoid separate agreements with multiple nonprofits.
How does Change simplify the CCV compliance process?
By handling all state-required filings, such as charitable solicitation notices, campaign reports, and contract filings, Change reduces administrative burdens.
Does Change provide tools for tracking donation campaigns?
Yes, businesses can track donation data, view state filings, and generate year-end tax reports through Change’s platform.
What happens if a business is non-compliant?
Non-compliance can result in fines, legal penalties, and potential bans from operating charitable campaigns in certain states.
What is the onboarding process for CCV campaigns with Change?
Businesses complete an onboarding questionnaire, provide high-level company details, and share information about their campaign goals and methods.
What information is required during onboarding?
Details such as the business’s name, point of contact, federal EIN, states of operation, and campaign specifics (e.g., how donations will be solicited).
What is the CCV agreement, and what does it cover?
The CCV agreement is a comprehensive contract between the business and Our Change Foundation, designed to support multiple campaigns with flexible terms.
Who drafts the CCV agreement?
Change works with expert attorneys at Copilevitz, Lam & Raney to draft the agreement, covering the associated legal costs.
How much can businesses save using Change for CCV compliance?
Businesses can save up to 75% on legal compliance and donation processing costs compared to managing these tasks independently.
Does Change charge for onboarding or initial setup?
No, Change absorbs costs such as state registration fees and attorney expenses for drafting agreements.