The GoodCoin Foundation is a 501(c)(3) tax-exempt public charity registered in the United States that holds donor-advised funds to facilitate contributions made using the GoodCoin Foundation’s website. The Foundation exists to support financially, and through marketing consulting services, nonprofit organizations that seek to engage the next generation of philanthropists through the use of social media and other emerging communication tools. We aim to open new sources of funding to the nonprofit sector by facilitating charitable donations, creating momentum for frequent and increased charitable giving, and encouraging users to develop and achieve meaningful purpose in their lives.
Services from the GoodCoin Foundation are subject to United States export control and economic sanctions requirements. You may not make donations to the GoodCoin Foundation if you are under the control of, or a national or resident of Cuba, Iran, North Korea, Sudan, or Syria or if you are on the U.S. Treasury Department’s Specially Designated Nationals List or the U.S. Commerce Department’s Denied Persons List, Unverified List or Entity List.
You understand that all contributions made on the GoodCoin Foundation’s website, or contributions in any campaigns in which the GoodCoin Foundation participates, are contributions to the GoodCoin Foundation, a 501(c)(3) tax-exempt Delaware nonstock corporation (EIN 47-5570019), which you can recommend to benefit certain other 501(c)(3) tax-exempt public charities (“Recommended Charities”). . In order to comply with federal tax laws and Internal Revenue Service regulations, the GoodCoin Foundation exercises exclusive legal control over the donations it receives, and retains the exclusive authority and discretion to re-grant the funds to other charitable organizations as it sees fit. While it is highly unlikely, it is possible that you may recommend a charity that is not in good standing with the IRS or a state regulatory agency, or otherwise does not meet the GoodCoin Foundation's criteria. In that event, the GoodCoin Foundation reserves the right, in its sole discretion, to select an alternate charity to receive your donation, or to ask you to recommend an alternate charity. Should you wish to recommend that your contribution be regranted to another organization (i.e., “Recommended Charity”), then the Board of the GoodCoin Foundation may make a donation to the Recommended Charity you suggested in an amount and at a time of their choosing. These policies are made to comply with United States federal tax laws and United States Internal Revenue Service regulations regarding the use of donor-advised funds.
Any attempted but failed payments to Recommended Charities will be made void and cancelled after 90 days (paper checks) or 30 days (electronic fund transfers). Multiple attempts using multiple communication channels to contact a proposed Recommended Charity will be made over the following 90 days after an attempted payment is cancelled or voided before a permanent retraction of the Board’s attempt to make a grant to the Recommended Charity.
Contributions made to the GoodCoin Foundation cannot be refunded except in the case of those arising from fund transfer Charge Backs and Disputed Charges.
The GoodCoin Foundation’s website lists charities and other carefully vetted tax-exempt organizations. These lists do not constitute a solicitation for donations.
Federal law prohibits charities from promising or providing goods and services (e.g., tickets to events or raffles) in exchange for making a donation to a donor advised fund such as those held by the GoodCoin Foundation. We can only accept contributions made without the expectation, or without the actual delivery, of goods or services by either the GoodCoin Foundation or any Recommended Charities. In addition, gifts made may not be restricted for particular functions, programs, or activities of the recipients but must be made for unrestricted purposes consistent with the mission of the recipient organization.
It is the intention of the Board of the GoodCoin Foundation to encourage the movement of as much money as financially feasible to the nonprofit sector net of fees. Typically, we grant Recommended Charities a minimum of 92.3% of the funds suggested by users. The amount retained by the GoodCoin Foundation covers various operational costs, including required state registrations, banking fees, credit card processing fees, administration and grant distribution services, and development and support of the GoodCoin platform, which facilitates online donations to the GoodCoin Foundation. Donors have the option to cover all the fees (including credit card fees) at checkout, allowing the recommended charity to receive the full intended donation. In certain instances, 100% of funds contributed or claimed by users are granted to Recommended Charities. Information on fees will be made available to potential donors or claimants on the GoodCoin Foundation’s website in advance of contributions or claims being made.
No Goods and Services in Exchange for Donations to Charitable Causes
Federal law prohibits charities from promising or providing goods and services (e.g., tickets to events or raffles) in exchange for making a donation to a donor advised fund such as those held by the GoodCoin Foundation.
Last Updated: 6Sep2017