GiveBIG Distribution: When and Why
May 18, 2016
Here’s a question we’re getting today: Nonprofits will get their GiveBIG donations on June 15th. Why the wait? There are two reasons: First, the time allows for donor changes, such as correcting duplicate transactions or reversing transactions when donors mistakenly give more than they intended. Second, the additional time is helpful as we negotiate with Kimbia regarding reparations for nonprofits.
The June 15th date was provided in the agreement with Kimbia and in our FAQ, but we are learning that many people missed it in the process of registering and creating their new profiles. One of the main reasons for that timeline is to build in time to respond to donor changes. Every year - and especially this year - there are donors who inadvertently make duplicate transactions, or donors who add an extra "0" to their donations and don't discover it until they receive their credit card statements. This allows time to handle all of these adjustments directly with donors so that the final distributions to nonprofits are accurate. In the past, Seattle Foundation's team handled these inquiries and given the growth in event participation, we could no longer do that with our in–house team.
This year, the additional time is helpful as we negotiate with Kimbia regarding reparations for the participating nonprofit organizations affected by the technology challenges. We will share the outcome of these discussions once an agreement has been reached with Seattle Foundation, and when we can report the impact Kimbia's actions will have on organizations' net proceeds from GiveBIG.
One final note: Seattle Foundation does not receive any fee income or interest income from GiveBIG, nor do we receive a percentage of donations made to nonprofit organizations through GiveBIG.