Overview
What is Givinga Foundation Inc?
The Givinga Foundation Inc, located in Wellesley, Massachusetts, is a publicly-supported 501(c)(3) nonprofit organization that aims to make philanthropy accessible to everyone. Established as an independent entity, it caters to individuals, families, and companies, without being affiliated with a larger financial institution or any specific community, geography, or religious organization. The Foundation's mission is to support the charitable giving activities of its account holders equally. It offers a Donor Advised Fund (DAF) platform with low minimums, minimal grant requirements, and no asset under management fees, enabling small and mid-sized philanthropists to organize their giving strategies effectively. The DAF model, in partnership with Givinga, Inc., allows account holders to access pools of giving capital and connect with like-minded philanthropists, creating a more significant impact through amplified giving. With a focus on an "assets in motion" philosophy, the Givinga Foundation maximizes account holder impact by providing world-class giving accounts, following a transparent and accountable platform, and promoting active and consistent giving.
Official website here: www.givingafoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 52% (One-Star out of Four Stars)
Givinga Foundation Inc has received a low rating of 52% from Charity Navigator, which indicates significant concerns regarding its overall accountability and financial practices. The charity's Accountability & Finance Score stands at 48, reflecting weaknesses in areas such as program expense ratio and fundraising efficiency. While the organization excels in governance aspects like having a fully independent board and sound policies for oversight, its financial metrics raise red flags about its operational effectiveness and sustainability.
Despite the organization's commendable score of 100 in Culture & Community, which highlights its commitment to creating a positive impact within its mission, the financial aspects present a contrasting picture. The program expense ratio is notably low at 50.71%, suggesting that a smaller portion of funds is directed towards programs compared to its total expenses. Furthermore, the fundraising efficiency ratio is concerning, indicating that a significant portion of funds raised is consumed by fundraising efforts rather than benefiting the intended programs.
In summary, while Givinga Foundation Inc demonstrates strong governance and a culture of accountability, the financial performance metrics indicate significant areas for improvement. To enhance its credibility and effectiveness, the organization may need to focus on better aligning its expenses with its mission-driven programs and improving fundraising efficiency.
This AI summary has been generated from information found on Charity Navigator.
Is Givinga Foundation Inc legitimate?
Givinga Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Givinga Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $5,225,895
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.givingafoundation.org
What is the mission statement of Givinga Foundation Inc?
The Givinga Foundation is a public charity that empowers donors of all sizes through a transparent and accountable platform. Its mission is to provide access to world-class giving accounts and encourage active and consistent giving. The organization removes barriers for small and mid-sized philanthropists by offering a DAF (Donor Advised Fund) with low minimums and no fees. The platform facilitates amplified giving through partnerships and access to pools of additional capital. With a focus on assets in motion, the Givinga Foundation maximizes impact by minimizing fees and adhering to a breakeven model of administration.
Official website here: www.givingafoundation.org
What is the revenue of Givinga Foundation Inc?
Givinga Foundation Inc's revenue in 2023 was $18,779,918.
Official website here: www.givingafoundation.org
Who are the executives of Givinga Foundation Inc and what are their salaries?
Here are 4 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $74,500
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.givingafoundation.org
Where can I find the form 990 for Givinga Foundation Inc?
Givinga Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.givingafoundation.org
Learn more at the official website: www.givingafoundation.org
Mission Statement of Givinga Foundation Inc
The Givinga Foundation, a public charity organization, empowers donors of all sizes through a transparent and accountable platform. With a mission to make philanthropy accessible to everyone, this independent foundation does not serve a specific community, geography, or religious organization. Instead, it acts as a sponsoring organization, supporting the charitable giving activities of its individual account holders equally.
The Givinga Foundation believes that donor-advised funds should be accessible to all, and they have built a platform that removes high minimums required to open an account and high minimum grant requirements. They believe that the donor-advised fund is an efficient and effective giving vehicle and have created a platform that is accessible to donors of any size. Account holders can create a cause-specific campaign, share it with their networks, and have access to multiple pools of additional capital to increase the total impact of their grant.
The Givinga Foundation follows an "assets in motion" philosophy, which aligns all parties around granting versus accumulating assets. Donor-advised funds provide unprecedented flexibility to account holders and are not subject to excise taxes, payout rules, or disclosure requirements. The GF platform has been developed to maximize account holder impact and is structured and priced around active grant making. In partnership with their administrative provider, Givinga, Inc., they have created the first zero-fee structure in the United States, charging no start-up fee, no fees based on assets under management, and no fees on account holder assets granted directly to charity. All annual excess revenues are directed back in direct support of their account holders.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
October, 2024
Givinga Foundation Inc significantly enhances the landscape of philanthropy by democratizing access to donor-advised funds, making high-quality giving tools available to individuals and organizations of all sizes. The foundation empowers donors through a transparent platform that eliminates high minimums that often hinder participation, allowing anyone to create an account and engage in charitable giving effectively.
By facilitating amplified giving, it provides account holders with unique opportunities to connect with like-minded philanthropists and access additional pools of capital, thus increasing the overall impact of their contributions. Technology plays a crucial role in this process, streamlining campaign creation and social sharing, which helps in mobilizing community support for various causes.
The foundation champions an "Assets in Motion" philosophy, prioritizing active grant-making over the accumulation of assets. Their innovative fee structure—featuring no start-up fees, asset-based charges, or fees on direct contributions to charity—ensures that funds are used efficiently for charitable purposes. This commitment to maximizing donor impact not only enriches the local and global giving ecosystem but also fosters a culture of consistent and strategic philanthropy among a diverse group of contributors, reinforcing a systemic approach to charitable giving.
This information is meant to be a general summary of Givinga Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $15
- Gross Receipts: $18,779,918
Assets and Liabilities:
- Total Assets: $5,243,806
- Total Liabilities: $3,472,002
- Net Assets: $1,771,804
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
2015
Principal Officer
Joseph Phoenix
Website
www.givingafoundation.orgNTEE Category
Code: T12 - Philanthropy
If you are a representative of Givinga Foundation Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.