This is a look at Mightycause’s disbursement process and what charitable fundraisers need to know about how funds are distributed.
Mightycause is a giving platform making it easy for anyone to raise funds for the causes they support.
Funds are sent directly to the nonprofit organization.
Donations on Mightycause pass through the Mightycause Charitable Foundation, which is a donor-advised fund. The Mightycause Charitable Foundation takes care of sending the funds you raise to the nonprofit.
Here’s how it works: On the 10th and 25th of each month, the Mightycause Foundation batches together donations made on Mightycause and directly deposits the donations made to the nonprofit, minus fees. Donations made from the 1st through the 15th are deposited on the 25th. Donations made from the 16th through the last day of the month are deposited on the 10th of the following month.
In order to receive funds on the 10th and the 25th, nonprofit organizations must opt-into/set up electronic funds transfer (EFT/direct deposit).
If the nonprofit has not set up direct deposit on the platform, disbursements are sent via check. Checks are disbursed once a month, around the 10th, to the legal mailing address listed in the IRS database.
There is a $5 service fee per check deducted on the disbursement. Direct deposit does not have any incurred fees thus we highly recommend encouraging the nonprofit to set up EFT in order to avoid this fee.
You do not need to “release” the funds you raise.
We’ve got this! The Mightycause Foundation disburses funds raised for nonprofits according to the schedule above. This means you do not need to contact us or do anything to send the funds to the nonprofit. We take care of all of it, automatically.
The nonprofit does not have to wait for your fundraiser to end to receive the funds.
We disburse funds via EFT on the 10th and 25th or via check on the 10th of each month. So, even if your fundraiser is ongoing, the nonprofit you’ve chosen will receive the funds each month. This way they can put to use the money you raise for their programs and service even if your fundraiser is still active!
The nonprofit will be able to see which donations came from your fundraiser.
Nonprofit organizations on Mightycause have access to a detailed donations report when they claim their page. This report identifies the source of the donation. Even though their disbursement batches together all donations made to their organization through Mightycause, they will be able to see which donations came through your page.
If you have any questions about how Mightycause disburses funds raised through a charitable fundraiser, contact us at email@example.com.