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Frequently Asked Questions

What is a Growfund Advisor?

A Primary Advisor is the person that starts a Growfund account. Once you complete the application and confirm your account, you become the Primary Advisor.

A Primary Advisor can add a Joint Advisor to the account. The Joint Advisor will share the same administrative privileges with the Primary Advisor over their Growfund, including the right to contribute funds to the account, grant funds from the account to organizations, receive account statements, and change account preferences. Both Primary and Joint Advisors can add Secondary Advisors to a Growfund account.

Secondary Advisors have read only access to the account meaning they can contribute to the account, but not make grants and do not hold other administrative privileges.

How do I create a Growfund?

To create a Growfund, simply click here or the “Start a Fund” button located in the top right-hand corner of the webpage. You will be asked to complete a short form.

You will receive a confirmation email, which will prompt you to login.

What information do I need to create a Growfund?

We simply require the following:

Basic contact information and birthdates for the Primary Advisor. If you would like to add a Joint and/or Secondary Advisor their basic contact information and birthdates are required.

That’s it!

Are my contributions tax-deductible?

Yes. Each contribution to Growfund has the same tax deductions as would a donation to any public charity.

How can I contribute to Growfund?

You have a variety of options for how you can make a contribution to Growfund. You can contribute via cash, check, credit card, wire transfer, and payroll deduction.

You also have the option of contributing other types of financial assets, including stocks, mutual funds, real estate and more. Please reach out to [email protected] if you would like to learn more about your options.

Is there a minimum dollar amount needed to open a Growfund account?

No! Start a Fund today. However, to start investing funds you need at least $1.00 in your Growfund account.

Are there any deadlines or timing restrictions?

No. The only timing consideration is planning for a year-end contribution. Please note certain types of contributions, such as real estate or stock transfers, take longer to process than simple cash or credit card contributions. To ensure you receive your tax deduction Growfund recommends making any year end contributions during the first two weeks of December. Please reach out to [email protected] if you would like to learn more about how you can plan ahead.

Do I need to maintain a minimum balance in my Growfund account?

Generally, there is no minimum balance required to maintain a Growfund account. However, this does not necessarily apply to individuals using Growfund through their employer, university, or otherwise. Check with your sponsoring organization if you are accessing Growfund through an institution.

Is there a minimum grant amount?

Yes. Grants to charities you select can be made for as little as $25.

Can my contributions be invested?

Yes. You have the option of determining the allocation of your funds that will be invested and/or placed in an interest bearing money marketing account.

Is there a fee associated with my investments?

Yes. Accounts maintaining an asset balance under $20,000 have a three percent annualized fee. Accounts maintaining an asset balance over $20,000 have a one percent annualized fee.

Do I have the option of not investing my balance?

Yes. As a Growfund Primary Advisor, you have the ability to place your funds in a protected interest bearing account (Money Market Account).

Are there multiple investment options available?

At this time, there are three investment options and a money market account available:

  • Growth Pool: Index based portfolio primarily invested in equity securities, with a small percentage in fixed income securities. Best for infrequent grantmakers.
  • Balanced Pool: Index based account invested in both equity and fixed-income securities.
  • Conservative Pool: Index based account primarily invested into fixed-income securities. Best for frequent grantmakers.
  • Money Market Pool: Interest-bearing money market account.

We are actively working to provide more diversified investment opportunities for our Growfund Advisors.

How do I know if my favorite organizations are eligible?

Growfund Advisors are able to seamlessly grant to nearly 1.8 million 501(c)(3) organizations. Odds are that your favorite nonprofit organization is among them. If it is not, you can add your favorite nonprofit organization. Growfund will vet the organization and add it to the platform if approved.

How can I make an organization eligible to receive Growfund donations?

Global Impact and its partners provide vetting services for both domestic and international organizations. It takes 3-5 business days to vet a domestic organization while it may take several weeks to vet an international organization. These services come at an additional fee to the Growfund Advisor. Once an organization has passed the vetting process, it will become eligible to receive donations from all Growfund Advisors. Please reach out to [email protected] for further information about vetting a new organization.

What is a 501(c)(3) organization?

501(c)(3) refers to the tax-exempt status of a nonprofit organization as qualified under IRS rules. Because 501(c)(3) organizations are charitable by nature, they are allowed to receive tax-deductible donations.

Does Growfund support international organizations?

Yes, but on a limited basis. Only a select number of international organizations are currently eligible to receive Growfund distributions. Growfund does, however, support numerous U.S.-based organizations that focus on international issues.

Can I set up a recurring grant?

Absolutely – recurring grants are great ways to fund your favorite organizations or causes effortlessly.

Can I make a restricted grant?

Yes. When you are ready to make a grant, click on the Recommend Grant tab and use the Grant Purpose field to indicate the specific purpose of the grant.

Can I set up recurring contributions?

Absolutely – recurring contributions are great ways to contribute to your Growfund effortlessly.

Are my contributions secure?

Yes. Growfund’s platform is provided by Stellar Technology Solutions, a group that takes great pride in ensuring the utmost security for its platform users. For more information on what Stellar is doing to protect user information, please visit here.

Is there a fee assessed on my contributions?

There are no processing or administrative fees for contributions made by check. Contributions made with a credit card are assessed a three percent processing fee. Online checks have a four percent processing fee. There are no fees on grant distributions to charities.

To make a contribution to your Growfund Account by check, make your check out to Global Impact writing your account name on the memo line. Mail it to the following address:

Attn: Growfund
1199 N. Fairfax Street, Suite 300
Alexandria, VA 22314

How long does it take for a grant to be distributed?

Global Impact will distribute grants to the recipient organizations within seven to twelve business days of receiving the grant recommendation from the Growfund Advisor.

What donor information will the recipient organization receive?

The recipient organization receives notice that the grant has been made by the Growfund Advisor via Growfund. This is the case unless the grant has been marked anonymous, in which case the organization will receive a letter stating that a grant has been made by an anonymous donor via Growfund.

What are the fees on my Growfund and how are they assessed?

Our pricing model is straightforward and simple. There is a three percent annualized fee on the fund balance under $20,000; one percent annualized fee on the fund balance over $20,000. This annualized fee will be charged against and subtracted from the fund balance on a monthly bases.

Growfund has a three percent credit card processing fee on contributions and a 4 percent online check processing fee on contributions. No processing fees are applied to payroll or check contributions. (Payroll deduction is only available to Growfund Advisors who are accessing Growfund through their employers).

Does 100% of my grant go to the designated organization?

Yes. There are no fees associated with grant distribution. 100 percent of your grant will be received by the charity.

To what entities does Growfund NOT support distributions?

For legal reasons, Growfund contributions cannot be distributed for the following purposes, including but not limited to:

For legal reasons, Growfund contributions cannot be distributed for the following purposes, including but not limited to:

  • An individual
  • The personal economic benefit of the Growfund Advisor, other Advisor(s) or a related party of either
  • Political contributions or legislative activities
  • Private foundations
  • Terrorists or their support networks

What is a Giving Opportunity?

A Giving Opportunity is a fund that supports a cause or collection of organizations that are eligible to receive grants from Growfund Advisors. Typically, a Giving Opportunity consists of organizations that are tied together by a single programmatic or geographic interest area.

How can I create a Giving Opportunity?

It’s simple! Once logged in, observe the left side navigation table. Go to the “Create My Opportunity” page within the “Giving Opportunities” tab. You will go through the same account creation form as you did to make a personal Growfund account for your new Giving Opportunity. On step three of the form indicate with the checkbox that this Growfund should be made public. This will make it a searchable Giving Opportunity. Once you have created the fund you will have access to reporting via your “My Dashboard”.

How can I share a Giving Opportunity?

If your Giving Opportunity is public follow the steps outlined below:

  1. Login to Growfund
  2. On the side navigation click Giving Opportunities
  3. Click Search all opportunities
  4. Enter your fund’s title in the keyword field
  5. Click on your fund’s Learn More link
  6. Copy the URL of this page and share it

If your Giving Opportunity is private, please email us at [email protected] to share a Giving Opportunity with your personal network. We can provide you with a link that allows non-Growfund Advisors to donate via credit card.

How do I use my Giving Opportunity?

Giving Opportunities can be socially shared, engaging family, friends, and co-workers. Be creative!

Example 1: Engage family and friends. Create a family fund, share it, raise contributions, and give as a group.

Example 2: Engage colleagues. Create a fund, share it with colleagues, raise contributions, and give as a group. I.e. The Growfund team managed a No Shave Movember Campaign. Co-workers grew mustaches during November and voted for the best looking mustache with donations into the fund.

What are my responsibilities as the creator of a Giving Opportunity?

It is your responsibility to abide by the conditions that you set forth in your Giving Opportunity’s description. If you create a Giving Opportunity that stipulates funding toward hunger initiatives in Sub-Saharan Africa, then it is your responsibility that all contributions go to this cause.

What is a Featured Giving Opportunity?

Growfund curates issues and causes that are important to our game-changing Growfund community. If your charitable organization would like to be considered for a featured giving opportunity, contact a Growfund community expert at [email protected] Go to the featured giving opportunities here.

Start Your Fund Today!