Welcome to Groundswell! Before you dive into Groundswell, we encourage you to take some time to learn a few key terms you will see throughout the platform, this article will focus on terminology related to your Groundswell Giving Account, which is a Donor-Advised Fund (DAF).
What is a contribution?
A contribution is money you add to your Groundswell Giving Account. Think of your account as a digital wallet for charitable giving: you put money in first, then recommend donations to charities when you’re ready. Groundswell supports several contribution methods, including bank account; debit or credit card via Apple/Google Pay; and Direct Deposit via company payroll. Once contributed, funds remain in your account until you choose to donate them.
Tax note: Cash contributions (ACH and credit card) that you personally make to the Groundswell Charitable Foundation (GCF) Donor-Advised Fund are tax-deductible and will appear on your end-of-year tax receipt. Employer gifts, matches, and donation credits are not tax-deductible and will not be included.
What is a donation?
A donation is when you recommend that some—or all—of your available Groundswell balance be sent to an eligible charity. Donations allow you to support causes you care about through one-time or recurring gifts.
Important: Donations you recommend from your Groundswell DAF to individual charities are not tax-deductible, because the funds were already tax-deductible at the time of contribution. As a result, individual charity donations do not appear on your tax receipt. You can view all contributions and donations at any time in your Giving History in Groundswell.
Comments
0 commentsPlease sign in to leave a comment.