GVNG has no minimum initial or ongoing balance requirements and has one of the lowest administrative fees of any donor-advised fund.
The GVNG Charitable Account (“Wallet”) fees are based on the following schedule:
|Account Type||Fee Amount|
|Per Crowdfunding Donation||Fee Amount|
|< $25,000||5% Transaction fee + Payment processing fee|
|$25,001 – $99,999||4% Transaction fee + Payment processing fee|
|$100,000 >||3% Transaction fee + Payment processing fee|
GVNG does charge any fees to contribute money to your Wallet. Contributions made via stock or crypto will incur a 5% fee deducted from the gross amount to cover the processing of the transaction.
The GVNGorg Board of Directors reviews and approves the fees periodically and may adjust them from time to time. The Crowdfunding Donation Fees are deducted as donations are processed. The GVNG Wallet Contribution Fees are deducted as contributions are processed. The Nonprofit Fee is based on an average daily account balance and is deducted from your account balance on a monthly basis.
This fee schedule does not include investment fees, or possible additional fees for international grant verification, wire transfers, or asset custody fees.
This disclosure describes your ability to grant funds in your GVNG Charitable Account to charities. Our policy is to delay the availability of some funds that are contributed to your account directly or through crowdfunding due to delays in funds availability imposed by payment processors. GVNGorg reserves the right to delay the availability of funds contributed to accounts that are for periods longer than those disclosed in this policy.
The length of the delay is counted in business days from the day of your deposit. Every day is a business day except Saturdays, Sundays, and federal holidays.
Funds availability by payment type:
The GVNG Wallet does not currently offer investment options or accrue interest or investment returns to the individual GVNG Wallet. It is anticipated that in the future the GVNG Wallet will offer several investment options and at such time GVNGorg would accrue to each GVNG Wallet their investment returns (including interest, dividends, and capital appreciation) per the prevailing interest schedule or investment agreement per the prevailing interest schedule or investment agreement as set by the Board of Directors of GVNGorg.
GVNGorg solicits and accepts gifts for purposes that will help the organization further and fulfill its mission. The following policies and guidelines govern the acceptance of gifts made to GVNGorg for the benefit of any of its operations, programs, or services.
GVNGorg will not accept gifts that (a) would result in GVNGorg violating its corporate charter, (b) would result in GVNGorg losing its status as an IRC § 501(c)(3) not-for-profit organization, (c) is too difficult or too expensive to administer in relation to their value, (d) would result in any unacceptable consequences for GVNGorg, or (e) are for purposes outside GVNGorg’s mission. Decisions on the restrictive nature of a gift, and its acceptance or refusal, shall be made by the GVNGorg Board of Directors, in consultation with the Chief Executive Officer.
The intent of a GVNG Wallet is to make grants to support charitable entities. To that end, the purpose of GVNGorg Inactive Charitable Account Policy is to promote and encourage the philanthropic spirit of its charitable accounts.
Grant recommendation(s) of at least $250 or 5% of the average daily balance, whichever is less, is required from a GVNG Wallet every three years in order to meet GVNGorg’s Inactive Charitable Account Policy. GVNGorg will consider a GVNG Charitable Account inactive if more than 30 months have passed since the account has made a grant to a qualified charity.
If an account has been identified as inactive, and after efforts have been made to communicate with the Account Advisor or their Successor, GVNGorg will transfer $250 or 5%, whichever is less, from the GVNG Wallet to the GVNG Impact Fund.
If a GVNG Wallet remains inactive (i.e., no grants and no contributions) for six consecutive years or in the event of the death or resignation of the last surviving lead or assigned advisor without a named Successor, GVNGorg reserves the right, in its sole discretion, to grant the entire balance of the GVNG Wallet to one or more qualified charitable organizations as nearly as possible or practicable consistent with the donor’s donative intent as determined by GVNGorg in reference to the granting history of the account or to the GVNG Impact Fund. If the account has no granting history, GVNGorg will transfer the entire balance of the account to the GVNG Impact Fund.
Notwithstanding anything herein to the contrary, if applicable laws require annual or periodic distributions from an applicable account, GVNGorg will transfer the minimum amount required to a qualifying charity.
GVNGorg is a 501(c)(3) tax-exempt organization (ID 81-2446261), a California nonprofit public benefit corporation.
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