What is the difference between Groundswell Giving, Inc. and Groundswell Charitable Foundation?
Groundswell Giving, Inc. (“Groundswell”) provides the software to manage corporate giving programs as well as corporate and individual charitable contribution accounts (DAFs). Software licensing fees are invoiced by and paid to Groundswell Giving, Inc. annually.
Groundswell Charitable Foundation is a separate entity that holds the company and employees charitable contribution accounts (DAFs). The Groundswell Charitable Foundation is a 501c3 public charity. Contributions to corporate DAFs (to fund employee giving programs) are sent directly to Groundswell Charitable Foundation and are tax-deductible. These can be made at any time based on your program cycles and usage.
How are we be billed for Groundswell’s platform?
Software licensing fees are invoiced as outlined in the Order and MSA. To update your company’s billing contact or information, please reach out to accounting@groundswell.io.
How does our Company fund our Groundswell account for programs?
There are three ways to fund your account
- ACH
- Wire
- Credit/Debit Card
You can find your specific funding instructions in your Groundswell Admin portal (Settings > Add Funds). Here is a Help Center Article that walks you through the steps: How To: Fund your corporate giving account
How do I get access to the Admin portal to fund our account?
Your Groundswell admin(s) can grant you access. If you don’t know who your company admin is, please email support@groundswell.io.
Can we get an invoice for account funding?
Yes, please email your Customer Success Manager or support@groundswell.io to request an invoice. Please provide any specific details you’d like included on the invoice.
What email should we send the remittance notices to?
For both invoice payment and account funding, you may use accounting@groundswell.io for remittance.
Will we be notified when our Company account balance drops below a certain threshold?
You can now configure your account for notifications when your balance drops below your specified threshold. Here is an article that walks you through how to set this up: How To: Set a Minimum Account Balance Threshold in Your Admin Portal
Are we able to set up an automatic ACH debit if/when the balance in our account drops below a certain amount?
We currently do not support an automatic ACH debit.
Will the entire amount funded be considered a charitable contribution in the current calendar year?
Yes, all contributions to your corporate account (Donor-Advised Fund) are tax-deductible in the calendar year in which they are made. So, all funding in 2024, for example, will be included in the 2024 tax receipt sent in early 2025 regardless of when the funds are distributed to your employee accounts or charity. Put another way, funds from contributions made in 2024 may be used in 2025, but the tax-deduction is realized in 2024.
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