Global Impact Case Study – Growfund
Audience
Individuals
Line of Business
Finance & Business Services
Opportunity
- Black Benefactors, a giving circle with the mission to enhance the well-being of black children, youth and families in the Washington, D.C., area, sought a digital tool that would help them to manage all aspects of their circle – without high costs and administrative hassles.
Approach
- Provided a tool – Growfund for Giving Circles – that allowed Black Benefactors to monitor account funds, collect contributions from giving circle members, select charities to receive grants, make grants on their own timeline and ensure proper reporting occurred.
- Simplified the contribution process for members of the Black Benefactors giving circle.
- Provided receipts indicating giving circle members have made a contribution to a 501(c)(3) nonprofit.
- Issued the grantee(s) a check along with a letter informing the nonprofit of the name of the giving circle responsible for the gift.
Results
- Streamlined the grantmaking process for Black Benefactors, building on their legacy of granting more than $50,000 over the years to black-led nonprofits in the community.
- Lapsed members returned to Black Benefactors due to the ease of making a contribution using Growfund.
"For the first time we’re now in a position to increase our grant funding and frequency, which is a major step forward in our evolution.” – Tracey Webb, founder, Black Benefactors
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