Our partnerships with Stripe and PayPal Giving Fund ensure that donations are granted as seamlessly and securely as possible on a monthly basis, and that no amount is taken away from the donation.
Once your organization’s Stripe account is successfully connected to the ShoppingGives Foundation Stripe account, you can expect to receive donations straight into your account within 10 business days and every month there-after within the first 10 days of the month, when funds are available.
Once you’ve enrolled with PayPal Giving Fund, no further action is necessary. When a ShoppingGives brand partner pledges over $50 to your organization, that donation will be included in ShoppingGives’ monthly grants. If the $50 minimum is not met, the donation amount will be granted after 18 months. If included in the grant, you should see the grant pending in your account on the 15th of the month and have access to those funds by the 25th of that same month.
Process
Once our merchant partners begin generating pledged donations, there are a few steps required before the funds are available to grant:
- ShoppingGives invoices the merchant
- First, the merchant needs to be invoiced and successfully pay their pledged donations. Of note, some merchants get invoiced on a monthly basis and others on a quarterly basis.
- Waiting the “Return Lock Period”
- Once we successfully receive payment from the merchant, the grant is on hold for a necessary lock period - anywhere from 0-90 days - to account for potential returned or cancelled product orders, as pledged donations on those orders would be cancelled/credited back to the merchant.
- Granting pledged donations to nonprofits
- After the lock period, we grant 100% of the pledged funds to the nonprofit through their selected payment method, either PayPal Giving Fund or Stripe.
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