Note: This article is written for Giving Day hosts. If you are a participant or supporter of a Giving Day, this article may not pertain to your efforts.
What is the Host-to-Nonprofit Process?
The Host-to-Nonprofit Payout Process is a way to efficiently transfer funds via Stripe to participating organizations, rather than cutting individual checks. This method can be used to pay out Giving Day donations to participating groups, prize money or any additional funds that need to be transferred after your giving day.
How long does it take to process payouts using this Process?
The timeline for Host-to-Nonprofit payouts is approximately 2 to 2.5 weeks, including internal donation reconciliation and factoring in turnaround time for direct deposits, which can vary from bank to bank.
We recommend setting clear expectations with your recipient organizations for when they can expect to receive their payout. To ensure accuracy and transparency, there is a system of checks and balances at each milestone to ensure that the correct funds are being transferred and paid out. Below is an outline of each phase and the steps therein.
Step 1: Reconciliation (3-5 business days)
Determine the total sum of funds being transferred to the groups via Stripe-to-Stripe. Using the spreadsheet provided by your Project Manager or Project Coordinator, determine how much each organization will receive.
Step 2: Initiate transfer of funds to GiveGab/Stripe for distribution (5-8 business days)
Once the total amount of funds to be distributed is finalized, a representative from your organization with access to the Partner Dashboard will need to make the initial transfer to GiveGab.
To begin this process, navigate to the "Donations" dropdown on the sidebar and select "Donation Report".
Once there, select the blue "Actions" button and then select "Bank Transfer" from the dropdown menu.
You'll then be prompted to enter your bank account number and routing number. Once entered, click "Submit".
Once your bank account and routing number are submitted, refresh the page. A field should appear, prompting you to enter the full amount to be distributed. Confirm the amount to be distributed and select "Submit".
Once submitted, the transfer will take 5-8 business days to settle before continuing to Step 3.
Step 3: Payout from Stripe to Groups (5-8 business days)
Once the payout spreadsheet is finalized, your Project Manager will do a quality assurance check.
After confirming that the initial transfer has settled and is ready for distribution, your Project Manager will then trigger the transfers to each individual organization. Once this process is complete, the funds will be deposited into organizations' bank accounts within 5-8 business days.