GoFundMe.org POLICIES

FIELD OF INTEREST FUND POLICIES

These policies describe how GoFundMe.org field of interest funds work. Please review these policies carefully.

 

WHAT IS A FIELD OF INTEREST FUND?

A field of interest fund is a fund established on the books of GoFundMe.org that is dedicated to supporting a particular mission, or “field of interest”. Donors contribute money or other property to the GoFundMe.org, which holds the contributions in a segregated fund. GoFundMe.org then makes expenditures from the fund in support of the particular field of interest. Such expenditures can include grants to further the charitable interests of the fund, whether to organizations or to individuals, or direct expenditures in support of the field of interest.

 

CONTRIBUTIONS TO THE FUND

Once a field of interest fund (a “Fund”) is established, the Fund can receive donations from other donors, including donors on a crowdfunding site, at any time. GoFundMe.org may reject, in its sole discretion, any contribution.

All contributions to the Fund are irrevocable gifts to GoFundMe.org. The Fund is the property of GoFundMe.org, and GoFundMe.org has ultimate discretion and control over all property in the Fund, including any income the Fund earns. All contributions to the Fund are subject to GoFundMe.org‘s variance power, which means that at all times GoFundMe.org retains full discretion and control over the Fund. However, the Fund can only be used for the restricted purposes set forth in the Field of Interest Fund Statement establishing a particular Fund.

 

DISTRIBUTIONS FROM THE FUND

All grants and distributions from the Fund must be exclusively for charitable or educational purposes, as those terms are used in Section 170(c)(2) of the Internal Revenue Code (the “Code”). All grants and distributions must also further GoFundMe.org’s charitable and educational purposes, as determined by GoFundMe.org in its sole discretion.

 

MANAGEMENT OF THE FUND

Investment of the Fund. GoFundMe.org has full discretion and control over the investment of Fund assets. Funds may be pooled with other assets for investment purposes. Fund investment activity will be tracked separately, regardless of how the assets are held.

Income. All income (including gains) earned on assets held in the Fund will be allocated to the Fund.

Administrative Fees. GoFundMe.org may assess an administrative fee against the Fund based on the amount of donations to the Fund.

Other Expenses. GoFundMe.org may in its sole discretion deduct from the Fund any costs, including legal fees, that GoFundMe.org incurs with respect to the Fund.

 

DONOR ADVISED FUND POLICIES

The policies outlined below describe how GoFundMe.org donor advised funds work. Please review these policies carefully.

 

WHAT IS A DONOR ADVISED FUND?

A donor advised fund permits future grants for charitable purposes while maximizing the donor’s current tax benefits. The donor contributes money or other property to GoFundMe.org, which holds the contributions in a segregated fund. The donor (or others named by the donor) may then recommend grants from the donor advised fund.

 

CONTRIBUTIONS TO THE FUND

To establish a donor advised fund (a “Fund”) at GoFundMe.org, GoFundMe.org may require the donor to contribute $5,000 or more. The primary donor (or anyone else, including donors on a crowdfunding site) may make additional contributions into the Fund at any time. GoFundMe.org may reject, in its sole discretion, any contribution.

All contributions to the Fund are irrevocable gifts to GoFundMe.org. The Fund is the property of GoFundMe.org, and GoFundMe.org has ultimate discretion and control over all property in the Fund including any income the Fund earns. All contributions to the Fund are subject to GoFundMe.org’s variance power, which means that at all times GoFundMe.org retains full discretion and control over the Fund and that GoFundMe.org is not bound by the grant recommendation of any Advisor. However, if the Donor Advised Fund Agreement or communications to donors to the Fund indicate that the funds can only be used for certain restricted purposes, that purpose restriction will apply to all grants from the Fund.

 

ADVISORY PRIVILEGES

As the primary donor to the Fund, you have the privilege to recommend grants from the Fund. You may also name up to three other individuals who may recommend grants from the Fund. These Policies refer to you and each of the named individuals as an “Advisor.” Any single Advisor may recommend grants from the Fund.

To name an Advisor, or to revoke an Advisor’s advisory privileges, please submit a letter to GoFundMe.org signed by the original donor(s). Only the primary donor(s) may name Advisors or revoke an Advisor’s advisory privileges. Any Advisor may relinquish his or her own advisory privileges at any time by notifying GoFundMe.org in writing.

 

GRANTS FROM THE FUND

Eligible Grant Purposes. All grants from the Fund must be exclusively for charitable or educational purposes, as those terms are used in Section 170(c)(2) of the Internal Revenue Code (the “Code”). All grants must also further GoFundMe.org’s charitable and educational purposes, as determined by GoFundMe.org in its sole discretion. In addition, if the Donor Advised Fund Agreement or communications to donors to the Fund indicate a specific purpose for the Fund, then all grants from the Fund must comply with the stated purpose restriction. GoFundMe.org may, from time to time, notify the Advisors of suitable grant recipients.

Eligible Grant Recipients. GoFundMe.org will only make grants from the Fund to U.S. charitable organizations that are tax-exempt public charities; U.S., state, or local government organizations qualified to receive tax deductible charitable contributions, such as state colleges or universities; private operating foundations; or certain non-U.S. organizations. GoFundMe.org will not make grants from the Fund to individuals.

Restricted Organizations and Purposes. GoFundMe.org will not approve recommendations for grants:

  • to non-functionally integrated Type III supporting organizations;
  • to supporting organizations that are controlled by or that provide support to organizations controlled by any Advisor, or certain family members or affiliates (as defined below) of such people;
  • to private non-operating foundations;
  • that are for lobbying, political campaigns or other political activities; or that are for any purpose that is not entirely charitable.

Enforceable Pledges. In general, no Advisor may recommend a grant that would discharge or satisfy (in whole or in part) a legally enforceable pledge or other obligation, including a pledge or other obligation of any Advisor or their family members or affiliates.

“Family members” means spouses, registered domestic partners, ancestors, children, grandchildren, great grandchildren, brothers and sisters, as well as the spouses or registered domestic partners of children, grandchildren, great grandchildren, brothers, and sisters.

An entity is an “affiliate” of a person if it is a corporation at least 35% owned (by voting stock), or a partnership at least 35% owned (by profits interest), or a trust at least 35% owned (by beneficial interest) by such person and/or such person’s family members.

Return Benefits. No Advisor may recommend a grant that would cause or enable any Advisor or family members or affiliates of such people, to receive a return benefit, such as the opportunity to attend a fundraising dinner or event. Grants with prohibited return benefits include so-called “bifurcated” grants, in which attendance at an event (or the receipt of any other benefit) is paid for separately but contingent on receipt of a charitable contribution or grant.

 

MANAGEMENT OF THE FUND

Investment of the Fund. GoFundMe.org has full discretion and control over the investment of Fund assets. Funds may be pooled with other GoFundMe.org assets for investment purposes. Fund investment activity will be tracked separately, regardless of how the assets are held.

Income. All income (including gains) earned on assets held in the Fund will be allocated to the Fund.

Administrative Fees. GoFundMe.org may assess an administrative fee against the Fund.

Other Expenses. GoFundMe.org may in its sole discretion deduct from the Fund any costs, including legal fees, that GoFundMe.org incurs with respect to the Fund. Certain grants, intensive due diligence, or Advisor-requested research may incur extra fees.

Reporting. GoFundMe.org will provide to each Advisor on a quarterly basis a report on the status of the Fund. The report will include additional contributions by the initial donor or other donors, earnings on investments, charitable grants from the Fund, and fees deducted. GoFundMe.org may provide additional reports upon request.

 

TERMINATION

Upon termination of the Fund any remaining advisory privileges will end. However, prior to termination, the primary donor may express his or her recommendation to GoFundMe.org at any time regarding the distribution of Fund assets upon termination of the Fund.

No Remaining Advisors. The Fund will terminate if at any point there is no Advisor to the Fund.

Fund Minimum Balance. If the Fund balance remains below $5,000 for three consecutive months, GoFundMe.org will attempt to notify the Advisor(s). If GoFundMe.org does not receive either a grant recommendation or additional funds for contribution into the Fund within 90 days of such attempted notification, GoFundMe.org may in its sole discretion terminate the Fund.

Minimum Activity. When GoFundMe.org has received no grant recommendations from any Advisor to a Fund for 12 consecutive months, GoFundMe.org will request grant recommendations in each quarterly statement thereafter. If 18 consecutive months pass with no grant recommendations from any Advisor, GoFundMe.org may in its sole discretion terminate the Fund.

 

State Nonprofit Disclosures

Certain states require written disclosures for nonprofit organizations soliciting contributions. Individual state disclosures are below.

Florida: A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL-FREE, WITHIN THE STATE, 1-800-435-7352 (800-HELP-FLA), OR VISITING www.FloridaConsumerHelp.com. REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL, OR RECOMMENDATION BY THE STATE. Florida Registration #CH53599

Maryland: For the cost of copies and postage, from the Office of the Secretary of State, State House, Annapolis, MD 21401.

Nevada: Contributions may be tax deductible pursuant to the provisions of sec. 170(c) of the Internal Revenue Code of 1986, 26 U.S.C. ¤170(c).

New Jersey: INFORMATION FILED WITH THE ATTORNEY GENERAL CONCERNING THIS CHARITABLE SOLICITATION AND THE PERCENTAGE OF CONTRIBUTIONS RECEIVED BY THE CHARITY DURING THE LAST REPORTING PERIOD THAT WERE DEDICATED TO THE CHARITABLE PURPOSE MAY BE OBTAINED FROM THE ATTORNEY GENERAL OF THE STATE OF NEW JERSEY BY CALLING (973) 504-6215 AND IS AVAILABLE ON THE INTERNET AT www.state.nj.us/lps/ca/charfrm.htm. REGISTRATION WITH THE ATTORNEY GENERAL DOES NOT IMPLY ENDORSEMENT.

New York: Upon request, from the Attorney General Charities Bureau, 120 Broadway, New York, NY 10271.

Washington: From the Secretary of State at 1-800-332-4483 or http://www.sos.wa.gov/charities/

Wisconsin: A financial statement of the charitable organization disclosing assets, liabilities, fund balances, revenue and expenses for the preceding fiscal year will be provided to any person upon request.

REGISTRATION WITH A STATE AGENCY DOES NOT CONSTITUTE OR IMPLY ENDORSEMENT, APPROVAL OR RECOMMENDATION BY THAT STATE.