Illustration of a donor in a comfortable chair with laptop

General & Account

Your Basic Questions Answered

GiveClear Foundation is a 501(c)(3) organization EIN: 81-3222963 and acts as a charitable grant making foundation. Your Giving Fund is established within GiveClear Foundation as a Donor Advised Fund.

A Giving Fund is a charitable giving account designed to invest, grow, and grant assets to non-profits for meaningful and lasting impact. Once funds are contributed, they are non-refundable. You receive an immediate tax receipt for the full amount of your contribution(s). You can grant from your fund over time as it makes sense for your philanthropic goals.

Your contribution is an irrevocable donation into your Giving Fund and becomes the property of GiveClear Foundation. Any monies distributed from your fund must be designated to a qualified 501(c)(3) nonprofit organization.

Yes, a private foundation can place its assets in a Giving Fund. The foundation would need to make a final grant to GiveClear Foundation, the nonprofit organization that sponsors your Giving Fund.

No, not at this time. However, this feature is coming soon.

You can, however, contribute to the Giving Fund of family members while maintaining the tax receipt in your name. For more information, contact support@giveclear.org

There are no minimums to open or maintain a Giving Fund.

There is no cost to open and maintain a Giving Fund under $25,000. Balances over $25,000 will be assesses an administration fee based on the balance at the beginning of each month. View the fees page for an outline of the fee structure.

While GiveClear exists to help more people give more money to more nonprofits, we are a 501(c)(3) nonprofit organization ourselves. We rely on the generosity of people like you to provide us with the resources needed to cover administrative costs. Although we charge small expense recovery amounts on funds over $25,000, it does not cover all of our costs. Thus, we ask that you consider allocating a percentage of your Giving Fund to us. A donation of 3% of your charitable contribution amounts would supplement GiveClear Foundation’s operations and help us continue our mission to encourage and expand charitable giving. To do so, please make a grant to GiveClear Foundation EIN: 8132229632

Illustration of coin being put into your GiveClear Giving Fund box

Contributions

Donating To Your GiveClear Giving Fund

Contribution is the term used when you make a gift into your Giving Fund. This is the amount eligible for a tax deduction once it is cleared and posted to your fund.

You can make contributions to your Giving Fund from a deposit account - ACH (checking, savings, etc.), credit card, DAF transfer or stocks/securities.

No, there is no minimum contribution amount.

Start by telling us about the securities you are interested in contributing using the “Contribute” button, “Stocks/Securities”. We will then email you instructions on how to complete your contribution.

Contribution fees are dependant on the type of payment used. There are no fees for check or ACH payments. Our credit card integration service, Stripe, has a service fee. However, we do not deduct any fees from your tax-deductible amount. Note: Fees may apply when making complex contributions. See fees for more information

Generally, contributions are irrevocable once received by GiveClear Foundation. If you are experiencing a technical issue, please reach out to support@giveclear.org.

Currently, third-party contributions are not supported.

You can find receipts for all of your contributions by logging into your Giving Fund and visiting the “Documents” page. Whenever a new contribution has been posted to your fund, your tax receipt will automatically be updated to reflect the amount.

The time it takes for a contribution to be processed depends on the type of contribution.

  • Credit Card - Immediately posted
  • Check – Posted 2-5 business days after check is received by GiveClear
  • ACH – Posted 2-5 business days after transfer is received
  • DAF Transfer – Posted 2-5 business days after funds are received by GiveClear from the other DAF sponsor
  • Securities – Posted 2-5 business days after securities are received
Illustration of globe with people holding hearts all over the world

Grants

Giving to Your Favourite Charities

Grant is the term used when a donation is made to a qualified 501(c)(3) non-profit organization from your Giving Fund.

When you make a grant recommendation from your GiveClear Giving Fund, GiveClear Foundation needs to verify that the non-profit is qualified to receive funds through our program and that there are no incidental benefits. Grant recommendations are generally approved within 48 hours of your request. You can find qualified non-profits by using the “Search” page.

You can grant to any 501(c)(3) non-profit in good standing with the IRS. If your intended non-profit does not appear in our search results, please contact the organization about its 501(c)(3) status and the official name it has registered with the IRS.

All grant recommendations are reviewed to:

  1. Confirm that the grantee is a 501(c)(3) in good standing with the IRS and the Office of Foreign Affairs (OFAC).
  2. Verify that all grants will be used solely for charitable purposes and will not confer more than an incidental benefit on the donor or related parties.

Grant recommendations are not permitted if the grant provides a personal benefit to the donor or a related person to the donor. The restrictions for recommended grants are as follows:

  1. Private benefit for any individual(s)
  2. Dues or membership fees
  3. Tuition payments
  4. Purchasing tickets to a benefit
  5. Purchasing goods at a charitable auction
  6. Funding a pre-existing, binding pledge which you are legally obligated to fulfill
  7. Lobbying, political contributions, or political campaigns

NOTE: Please refer to IRS guidelines for a full explanation of charitable grant restrictions.

Generally, grant recommendations may not be reversed once approved. If you are experiencing a technical issue, please reach out to support@giveclear.org.

Grant recommendations are reviewed for approval within 48 hours of submission, provided the grant recommendation meets our approval guidelines.

Your grant may have been declined for one of the following reasons:

  1. The nonprofit has lost its tax-exempt status or has been placed on the Office of Foreign Affairs (OFAC) watchlist.
  2. The purpose of the grant might benefit you personally.

Yes, by selecting the checkbox for “I wish to remain anonymous” when making your grant recommendation. In doing so, GiveClear Foundation will not share your name or address.

No, you are prohibited from making grants that will be used for lobbying purposes or to support political campaigns.

You cannot make grants to crowdfunding organizations that are not qualified as a nonprofit with the IRS. To support someone who is participating in an activity for nonprofit, you can recommend a grant to the nonprofit directly.

You can recommend grants to fulfill a nonbinding pledge, but not to fulfill any of your binding legal obligations.

Subject to certain limitations, you can specify a special purpose for your grant when you make your grant recommendation. Choose from the options available in the dropdown menu or select “other” to enter a specific designation. For example, if you have a recurring child sponsorship, simply enter the child’s name and ID (if applicable) in the text field. The charity will be notified when it receives the grant. Please keep in mind that you cannot make any grants to benefit yourself or your relatives.

No. Unlike contributions, grants cannot claim deductions, regardless of whether the amount granted is greater than your contribution(s) amount.

There is no minimum grant amount but GiveClear Foundation encourages a minimum grant amount of $20.

Grants are issued to nonprofits weekly. To keep administrative costs low, GiveClear makes every effort to transfer grant funds to nonprofits electronically. If a nonprofit has provided direct deposit information, funds should be received by the nonprofit within 2 - 7 business days of grant approval.

For nonprofits that do not have direct deposit, a check will be sent within five business days of grant processing. Checks not cashed within six months of the issue date will be redeposited into your Giving Fund.

In some cases, it may take your nonprofit time to cash a grant check once they have received it. You can inquire directly with your nonprofit about your grant. Please indicate that the grant is coming from GiveClear Foundation.

illustration of two adults at a table with laptop and graphs on board behind

Investments

Investments & Your Giving Fund (DAF)

Your investment gains and losses will impact the total balance of your fund. However, keep in mind this has no impact on your tax-deductible contributions.

Giving funds that maintain a balance of more than $25,000 may be invested with a financial professional for tax free growth while being held for granting. To learn more about our investment options and to invest your Giving Fund, please contact support@giveclear.org.

No. Because your contributions are owned by GiveClear Foundation, gains and losses on your invested contributions will not impact your taxes. The same applies to income or dividends from your invested contributions.