Global Impact Receives Grant to Expand Growfund
Grant supports informed, intentional and generous giving strategy of the Bill & Melinda Gates Foundation
ALEXANDRIA, Va., Nov. 2, 2016 – Global Impact has received a grant from the Bill & Melinda Gates Foundation to further expand awareness and development of Growfund, its revolutionary donor-advised fund (DAF). Growfund is a charitable giving platform that allows individuals to create their own DAF with as little as $1. The platform eliminates the historic barrier on DAFs, which generally require account minimums of $5,000 or more to start, allowing everyday donors the ability to create their own personal foundation where money is invested and grown over time and granted to one or more of 800,000 nonprofit organizations available through the system. Donors can also launch custom giving opportunities in the platform and share them with family and friends. Donations are immediately tax deductible.
“Growfund provides corporations, community foundations and individual donors a means to bridge charitable giving with investment,” said Scott Jackson President and CEO of Global Impact. “With the support provided by the Gates Foundation grant, we intend to create informed, intentional and generous giving at scale by providing education platforms, socially responsible investment options and expanded capacity to cultivate new partners.”
For corporations, Growfund provides employees with an easy-to-use and automated platform to thoughtfully plan their charitable giving strategy alongside their retirement, medical and other financial planning needs. Additionally, with payroll deduction options, corporate match processing and real-time reporting, Growfund is a low-cost and simple to use employee engagement tool that can be integrated into human resources much like 401(k) plans.
For charities, Growfund offers a white-labeled tool to access the fastest growing charitable vehicle in the U.S. with a low barrier entry for new donors and giving circles, featured giving opportunities and the ability to convert individual donors to planned givers.
Community foundations have come to depend on donor-advised funds as a way to engage members of their community. Growfund provides these organizations the opportunity to connect with a new generation of supporters who would otherwise not have the means to start a donor-advised fund to support causes in their community.
For more information and a demonstration, please contact a Growfund community expert at [email protected] or by calling 844-852-3617 or go to www.mygrowfund.org. Follow Growfund on Twitter and “Like” us on Facebook.
ABOUT GLOBAL IMPACT
Global Impact is a leader in growing global philanthropy. The organization builds partnerships and raises resources that help the world’s most vulnerable people by providing integrated, partner-specific advisory and secretariat services; campaign design, marketing and implementation for workplace and signature fundraising campaigns; and fiscal agency, technology services and integrated giving platforms. Global Impact works with nearly 450 public and private sector workplace giving campaigns to generate funding for an alliance of nearly 130 international charities. Through strategic council and implementation support, Global Impact equips private sector and nonprofit organizations to achieve their philanthropic goals. The organization also serves as administrator for four of the world’s largest workplace giving campaigns, including the Combined Federal Campaign of the National Capital Area (CFCNCA) and the Combined Federal Campaign-Overseas (CFC-O). Since 1956, Global Impact has generated more than $1.7 billion to help the world’s most vulnerable people.