Donor Agreement

Welcome to Givio Charitable Foundation, a charitable organization sponsoring a donor advised fund(s) whose purpose is to facilitate giving and gift disbursement for both Givers and their recipient charities. Givio Charitable Foundation (“GCF”) (EIN 47-3955325) is recognized as a tax-exempt 501(c)(3) public charity under the U.S. Internal Revenue Code (the “IRC“), whose purpose is to provide charitable giving services primarily through the management of donor advised funds (“DAF(s)“). GCF partners with charitable giving software companies, such as Givio, Inc., to fulfill donations that are generated through partner software. For more information about GCF, please visit GivioCharitable.org.

This Donor Agreement (“Agreement“) is intended to assist donors (who may be referred to in this Agreement as “account holders,” “members,” “Donors”, “users”, “you” or “your“) in understanding both the benefits of participating in a donor advised fund (DAF) program (the “Program“), and the important policies, procedures, rules and restrictions associated with establishing and maintaining a DAF account with us. Donor participation in the Program is subject to the terms and conditions of this Agreement, and by establishing a DAF account with us, you agree to accept and be bound by this Agreement. In addition, please review our Privacy Policy on our website. Subject to tax code rules and guidelines governing the operation of DAFs, we reserve the right to modify the Program and this Agreement at any time. In the event of any such modification, this Agreement will be updated and published on our website and as part of the DAF account registration and management processes.

1. Introduction to Donor Advised Funds

A DAF account is a charitable giving vehicle sponsored by and administered by a third-party charitable organization. It is created for the purpose of managing charitable donations on behalf of an individual, family or organization. A DAF account offers you the opportunity to create an easy-to-establish, low cost, flexible vehicle to facilitate your charitable giving. While donors can enjoy administrative convenience, cost savings, and tax advantages by conducting their grant-making through a DAF account, the DAF account is not a “private foundation” as that term is defined by the U.S. IRC. Once funds are contributed to a DAF account, the funds will be tracked on the books of the sponsoring organization as attributable to funds contributed by that particular donor, but will be owned and controlled by the sponsoring organization, and that organization has the ultimate authority over how the assets in all of its DAF accounts are invested and distributed. Donors may not impose restrictions or conditions on the assets in their DAF account. However, the donor, or one or more persons appointed or designated by the donor (each a “donor advisor“), will have “advisory privileges” over the distribution of funds within the donor’s DAF account. This means that the donor (or his or her donor advisor(s)) will have the right to provide advisory recommendations and suggestions to the DAF as to the eligible charities to receive distributions (i.e., “grants”) from the donor’s DAF account. The DAF’s sponsoring organization is not obligated to follow these recommendations, however, and will only do so if the recommended organization meets the criteria set forth in this Agreement.

Contributions to a DAF account can be made at any time, are irrevocable, and are immediately tax deductible to the fullest extent provided by U.S. tax law. The availability of certain U.S. federal income tax deductions is limited to U.S. donors and may depend on whether you itemize deductions or not. Rules and regulations regarding tax deductions for charitable giving vary at the state level. Please check with your tax advisor. Tax deductions discussed herein refer specifically to U.S. federal taxes.

2. Attributes of the Donor Advised Fund

Our DAF account holders have the opportunity to:

  • Make direct, irrevocable charitable contributions to their DAF account via our website or one of its affiliate properties.

  • Receive funds into their account for advisement to the charity of their choice from third-party sources, such as an employer giving program, an employer benefits program, or a gift of charity from another individual.Support@Giv.io

  • Make gifts to eligible, qualified charitable and nonprofit organizations by recommending advisements through the Site, on the member’s own timetable.

  • Depending on the member’s individual tax circumstances, receive a charitable tax deduction for direct contributions made to the member’s DAF account.

All DAF contributions and advisements are subject to the review and approval of the sponsoring organization and its board. Our board may delegate any of their powers and authority under this Program to employees or other representatives.

As a reminder, all donor accounts, contributions and advisements, use of the websites, and data related thereto are subject to the terms of our Privacy Policy, as stated on our website.

3. Online Account Access

To manage their DAF accounts, GCF partners with third-party software companies to provide online account access. For example, GCF partners with Givio Inc. (www.Giv.io) to provide Givio Products such as a mobile app available in certain app stores. Individual DAF account holders may access their account through their downloaded app with the username and password created at signup. DAF accounts may also be available through other sponsoring partner company or organization websites.

Your DAF account allows you to:

  • See the cash balance of the account (money that you have directly donated to your account);

  • Recommend grants to charities; and

  • Review the status of grants that have been recommended.

Since members can access account information on their own at any time via our partner products, our current policy (which is subject to change at any time) is that we will not duplicate email outreach to users, but rather work with our partners to provide account statements to members with information about the member’s DAF account.

4. Establishing a DAF Account

  • Eligible Account Holders: Any individual located anywhere in the world is eligible to become a DAF account holder.

  • Opening an Account: We permits you to open a DAF account with an initial contribution in any amount.

  • Designating Donor Advisor(s): At any point after your account has been established, you will have the opportunity to designate other persons whom you authorize to make advisements on your behalf with respect to a specific amount of your account balance.

5. Contributions to your DAF Account

Contributions may be made to your DAF account by any means of electronic payment currently via the Givio Products or other sponsoring company or organization websites.

These dollars will appear in your DAF account balance and will be held by us until you have recommended a qualified charity to receive them or the account has been terminated in accordance with the terms and conditions set forth in this Agreement. Often, users recommend or advise a qualified charity at the time of making the donation.

Though we attempt to show all donations as quickly and accurately as possible in a member’s account, there may be a delay with some transactions. In particular, transactions involving corporate partners and employees who participate in their employer matching program may take up to 40 days to accrue in your account due to restrictions established by those companies. Such transactions will appear in your account labeled as “pending” until the company indicates that the transaction has cleared.

6. Contributions Are Irrevocable; “Unfulfilled” Donations

Once a contribution is received, it is an irrevocable charitable contribution to the DAF. Accepted contributions are not refundable. Should a grant to a charitable organization go “unfulfilled”, meaning that either the organization fails to accept the donation or the organization was deemed ineligible, then the donation amount will be returned to your DAF account and you may re-grant those funds.

7. Charitable Income Tax Deduction

If you are a U.S. taxpayer, you may be eligible for an itemized income tax charitable deduction on the date that you make your direct contribution to the DAF, subject to applicable limits under the respective tax law. If you are not a citizen of the country in which you are making a donation, please consult the tax laws of the country in which you reside to determine any personal tax benefits to your donation. Donations made to your DAF account by retail and corporate partners or employers may not be deducted from your taxable income. Notwithstanding anything in this Agreement to the contrary, you specifically acknowledge and agree that nothing in this Agreement constitutes or should be construed as legal or tax advice, and that you should consult your own legal or tax advisor about your personal situation.

8. No Advisory Privileges Regarding Investment of Funds

Donors have no advisory privileges over how funds in their DAF accounts are invested, nor do donors have any ability to select or recommend investment options or provide advice on distributions from types of investments.

9. Eligible, Qualified Charitable and Nonprofit Organizations

To be eligible, organizations must comply with the appropriate tax guidelines. We provide eligibility summaries below.

For organizations in the U.S. to be supported through a U.S.-based DAF:

  • U.S. Public Charities: Advisements to U.S. charitable organizations must be recognized by the IRS as 501(c)(3) public charities described in IRC Section 509(a)(1) or 509(a)(2), and that are in good standing (i.e., whose exempt status has not been revoked). Additionally, advisements can be made to schools, churches, certain governmental entities, including tribes and other organizations that are eligible for tax deductible donations, per the IRS regulations.

  • Non-U.S. Charitable Organizations: If available through Givio Products, advisements can be made to certain, qualified non-U.S. charitable organizations. These organizations are listed in the DAF’s searchable charity database. Non-U.S. Charitable Organizations are vetted against public charity standards established in their respective countries and / or by certain Non-Governmental Organization (NGO) vetting organizations. In addition, certain reporting standards must be adhered to by recipient NGOs to remain eligible to receive funds.

  • Compliance: The DAF will reject any advisement recommendation for improper purposes and will take remedial action if we discover that improper advisements have been made. Action may include, but not be limited to, requiring that the advisement be returned.

  • Ineligible grant recipients: Advisements cannot be made to private foundations, individuals, or employer-sponsored employee relief funds.

  • IRC 509(a)(3) clarification: Making and advisement to an IRC 509(a)(3) supporting organizations, Type I, Type II and Functionally Integrated Type III supporting organizations is only permitted if the individual making the grant DOES NOT directly or indirectly control—or is related to someone who directly or indirectly controls—the supporting organization. By making an advisement or donation, you are attesting to your compliance with this clause!

10. Recommending a Grant

As a DAF account holder, you have the right to recommend grants from your DAF account to qualified charitable organizations. Subject to the restrictions stated in Section 9 above, you may request that a grant be made to any charity that is listed on our website.

We will review your completed and submitted recommendation to ensure that the proposed donation is consistent with charitable purposes and that the recommended charitable organization satisfies the criteria set forth in Section 9 above.

We reserve the right to deny a grant recommendation and will generally notify you of the denial within 30 days to request that a recommendation for a grant to an alternative charitable organization be made.

Grants are processed on a monthly basis. If other members have requested grants to the same eligible charity(s), these grants are aggregated and one payment is made to the charity(s). Due to the costs associated with processing small donations, we reserve the right to reserve disbursement of funds until the aggregate sum is greater than $50.00.

11. Grant Amount and Number Limits

Amount: We will consider grant recommendations as low as $1.00 and as high as the full balance of your DAF account. You are not permitted to make a grant recommendation for an amount greater than your account balance.

Number of Grants: We allows members to recommend an unlimited number of grants in any fiscal year (January 1 – December 31).

12. Minimum Grant Activity

We encourage all members to make grant recommendations on a regular and continuous basis throughout the year. After all, this is the best way to ensure that the funds in your DAF account achieve immediate charitable impact. The DAF monitors account activity periodically to ensure that accounts remain active, and we may contact you if it appears that your account is not in use. If we determine that your account has not been active for a period of 24 months, (e.g., logging in, making a contribution to your DAF account, making an advised donation from your account, or receiving amounts in your account through donations by employer matching programs), the DAF reserves the right, as determined in its sole discretion, to close your account and distribute your inactive DAF balance to: (a) to one or more organization(s) that have previously received distributions from your DAF account, as long as such organization(s) still satisfy the criteria set forth in Section 9 above; or (b) to the DAF’s general charitable operating fund.

13. Inactive Accounts

An account will be deemed inactive if over a consecutive 24-month period there is no activity in the account such as logging in, making a direct donation, receiving amounts in the account through donations by retail and corporate partners or employer matching programs, or making a grant recommendation. We will make every reasonable effort to contact the account holder via e-mail prior to the end of such 24-month period and encourage him/her to engage in some activity with the account. If the account holder(s) does not respond, we may terminate the account and distribute the account balance to one or more organization(s) that satisfy the criteria set forth in Section 12 above.

14. Record Keeping and Reporting

Your DAF account will provide confirmations of all account transactions, usually within one business day after the transaction. Contribution confirmations serve as your receipts, and should be kept with your tax records.

15. Fees

To offset DAF administrative cost of managing and maintaining its DAF accounts, we charge an administrative fee no greater than 4.0% of the amount of the grant to an eligible recipient organization. The DAF reserves the right to change the amount of the administrative fee at any time. You will be notified of the currently applicable fee as part of the donation transaction, and your complete giving history in your account will include a breakout of fees.

In addition to the administrative fee, there is a transaction processing fee (e.g. a credit card fee or bank account draft fee) that is applied to the amount of each donation you make to your DAF account. We will work to obtain the best rates possible for transaction processing.

Under certain conditions, these fees may be paid by sponsors of certain corporate or partner giving programs. If your employer sponsors a charitable giving program that is supported by our DAF, please contact your employer to determine if the employer is covering administrative fees.

16. Contacting Us

If you have any questions about this Donor Agreement, please contact Support@Giv.io, or direct them to our website, listed at the beginning of this Agreement.