How Matching Donations Work
When a charity or cause request matching funds from The MatchingFund Org the Board of Directors reviews the organization and fundraiser and, if approved, allocates the funds.
Matching funds can also be provided by Angel donors who provide funds for a specific campaign. This type of donation is called Donor Directed Fund. More information about Donor Directed Funds can be found Here.
Angle donors can also donate to an Area of Interest fund. This type of fund provides funds to organizations within the overall direction of the donor’s areas of interest. The Area of Interest Fund allows donors to provide funds for a broad area of concerns. For example a donor could specify that the donation should be used to support cancer research, family services, disaster recovery, homeless support or most any other type of cause the donor wishes. More information on Area of Interest Funds Here.
Unrestricted Donations are a way for Angel donors to provide funds for community needs as they arise. This type of fund provides the Board of Directors with the discretionary funds to allocate the funds to emerging community concerns. More information on Unrestricted Donations available Here.
Donors to The MatchingFund Org can designate that their donations be distributed over an extended time period. For example if a donor provided 100,000 dollars for a Area of Interest Fund the donor has the option to specify that no more than 20,000 dollars should be distributed per year. In that case the life of their portion of the fund would normally be 5 years. The number of years could be longer depending on the total funds available from all donors to the area of interest and the amounts used for all fundraisers conducted for that Area of Interest in a given year. For tax purposes of the donor the total donation would be reported in the year the donation was made.
How Fundraisers Work
Anyone can start a fundraiser for a legitimate Non-Profit or Cause using our online platform. Anyone can make a donation of any amount like $50, $100, $1,000, or more through our online portal Donate2it. Whatever the amount it will be matched up to the maximum of the Matching Funds allocated to the fundraiser.
Credit card information is not stored on our servers. We use Stripe a highly secure online processor. All transactions are transmitted via SSL/HTTPS directly from the donors browser to Stripe. No credit card information is processed or passed through our servers. When Stripe approves the transaction we receive a tokenized donor id that is used to link the donation to the fundraiser. The Donate2it platform allows donors to make donations via credit card or check.
Each Fundraiser has its own page and accounting. Through our online processing, we are able to provide a receipt instantly once a donation is made. The creator of the fundraiser is provided access to a dashboard where they can update their fundraiser and export a spreadsheet of donors and amounts donated. If a donor request to be anonymous, their request will be noted on the spreadsheet so the organization knows not to contact them directly.
When a campaign is created the author will be given an opportunity to connect their fundraiser to a Stripe account that links to their bank account. The information provided to Stripe is maintained by Stripe and no banking information is maintained on The MatchingFund or Donate2it websites or servers. The MatchingFund receives a tokenized key that allows us to link the correct accounts to the individual fundraisers. By connecting a Stripe account to the fundraiser all donations are distributed to the organization when the donation is approved. At the end of the campaign The MatchingFund will send a check for the matching funds and any checks received. More information about Stripe and how it works is available here Stripe Information.
If the organization decides not to connect a Stripe account to their fundraiser the donations will be deposited into The MatchingFund account. We will distribute, to the organization, all the collected donations and matching funds once the campaign has ended.