Will I be able to send money to my favorite nonprofit organization?
Yes. We’ll have every 501c3 organization in the IRS’ database—all 1.5 million of them.
How does Charityvest differ from a “donor-advised fund” (DAF)?
Charityvest technically is a donor-advised fund, but it doesn’t act like a traditional DAF. Most DAFs have minimum opening balances and annual or service fees. We have none of that. In our case, we provide your fund for free—no fees whatsoever. As of right now, we invest the funds ourselves, and that’s how we make money. We’re a DAF for the non-major donors of the world, which is most of us.
Are there any service fees or transaction fees?
Nope. 0% fees on everything. 100% of every dollar put in Charityvest goes to the nonprofit.
How does Charityvest make money?
Charityvest aggregates the deposited capital across all funds and invests a small portion of it in low-risk, socially responsible bonds and other fixed income assets. We are targeting a small, safe return on a small portion of the overall assets within Charityvest. As a nonprofit, we only need to cover our costs, not turn big banker profits.
Is the money in my fund safe? Do you ever touch it?
Yep. 100% safe. We never touch the money you have available to you. If you put in $1000, it will be there, untouched, until you decide to distribute it out to a charitable opportunity.
Can I invest the money in my fund?
Right now we’re not offering the ability for donors to invest the money in their funds. We’re doing that in the background, and that’s how we make money to provide this service. In exchange, we’re providing free giving funds for you and your friends.
Is Charityvest secure?
Charityvest uses bank-level security in all of its transactions and management of your money. Your resources are safe.
Can I get money back out of my fund?
Because Charityvest is a nonprofit, putting money into your fund is legally considered a donation to us. That’s how we give you a single tax deduction for all of your giving as soon as you put it into your fund. So unfortunately, no. Once you put it into your fund, it is legally required to go to a charitable organization eventually.
I like that you have no transaction costs. Can I make donations through Charityvest without ever leaving money in my fund?
Sure. We’d love for you to use Charityvest and tell your friends about it, even if it is just a donation service for you. Our mission is to make giving better. If that’s how we accomplish it for you, fantastic.
Is there a minimum donation amount, or minimum to open a fund?
There is a $20 minimum donation out of your fund, but there’s absolutely no minimum amount to open a fund.