SEATTLE, May 4, 2016 /PRNewswire/ -- In addition to extending GiveBIG (GiveBIG.seattlefoundation.org) for an additional 24 hours, Seattle Foundation President & CEO Tony Mestres informed participating nonprofit organizations that it will include all credit card donations – including donations made directly to participating nonprofits while the GiveBIG website experienced technical difficulties – raised on May 3-4 in the calculation of the GiveBIG stretch-pool distribution.
"One of the most frequent questions we've received from nonprofits and donors alike, is whether donations made directly to participating nonprofits outside of the GiveBIG platform would be eligible for our stretch pool which has historically been reserved for donations made through the GiveBIG website," said Mestres.
As such, each credit card donation up to $2,500 will receive a boost from a stretch pool funded by Seattle Foundation and GiveBIG sponsors. The amount of each nonprofit's share of the stretch pool is based on the percentage of donations the nonprofit receives of the total online contributions received. The more each nonprofit receives, the bigger the boost. Nonprofits must raise a minimum of $100 to receive stretch pool funds.
"We believe this is essential to supporting nonprofits which dedicated sizable time and energy to participate in this giving day," added Mestres. "It's also essential to honor the intentions of the donors who were motivated by the financial incentives of GiveBIG."
In addition to the GiveBIG stretch pool, participating nonprofits are growing their donations in two ways:
- Matching Funds: To incentivize donors to GiveBIG, many businesses and individuals contributed to a matching fund for their favorite nonprofits – providing the opportunity to potentially double a donation's value. Participating GiveBIG nonprofits can work in collaboration with their matching fund contributors to validate achievement of their fundraising goals, and, if agreed, use any credit card donations made on May 3-4 in this determination. To date there has been $3 million in matching fund challenges recorded, $1.6 million of which has been reached, leaving available $2.4 million in matching funds still on the table.
- Golden Tickets: For each donation received, the donor will be entered into a "Golden Ticket" drawing, with Golden Tickets drawn throughout the day. Winners will receive an extra $1,000 donation made in their name to their chosen nonprofit. Nonprofits receiving the Golden Tickets include Tasveer (based in Redmond), Compass Housing Alliance (based in Pioneer Square), Wayfind (based in Downtown Seattle), Creative Dance Center (based in Haller Lake), Taproot Theatre Company (Greenwood), Sightline Institute (Downtown Seattle), Literacy Council of Seattle (based in Crown Hill), South Park Area Redevelopment Committee (based in South Park), Boys & Girls Clubs of Seattle/King County (based in Downtown Seattle) with more still to be drawn before GiveBIG ends at midnight tonight.
Golden Ticket sponsors include Amazon, BECU, Boeing, Medina Foundation, Microsoft & Microsoft Alumni, Starbucks, Tableau, The Aven Foundation, The Ballmer Group Philanthropy and Seattle Foundation.
About Seattle Foundation
Seattle Foundation ignites powerful, rewarding philanthropy to make Greater Seattle a stronger, more vibrant community for all. Focused on creating equity and opportunity, our goal as a community foundation is to simplify giving and strengthen the impact of philanthropy for the more than 1,200 individuals, families, businesses and nonprofits we serve. Our services include philanthropic advising, community insights, gift planning, family philanthropy, impact investing and global giving. Seattle Foundation annually presents GiveBIG, a 24-hour online giving event to raise funds for area nonprofit organizations. Learn more at: www.seattlefoundation.org.
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SOURCE Seattle Foundation