Get to know Givebox: Givebox Technology Foundation Q & A with Givebox CEO and Founder Joshua Rowley
Givebox is a payment facilitator technology company that empowers nonprofits with free fundraising tools, digital banking and advanced cyber security protecting philanthropy. CEO and founder Joshua Rowley has worked in the financial technology industry for the past decade and started Givebox in 2016.
Why was the Givebox Technology Foundation created?
“We created Givebox Technology Foundation to support nonprofits by raising awareness through specialized events and online campaigns. Our ‘Givebox Spotlight’ efforts help drive thousands of new donors to growing nonprofits and kickstart new nonprofits with viral fundraising.”
What makes Givebox different from other fundraising platforms?
“The biggest difference is that Givebox is a technology provider AND a payment processor authorizing us the power to support nonprofits with free tools and industry low processing fees. Being one of the few Payment Facilitators in the financial industry enables us to lower fundraising costs, increase donations and protect the world’s donors through cyber security and fraud monitoring. We are applying financial technology to fundraising technology in order to move philanthropy forward.”
What are some simple ways people can give back?
“Statistics show that as early as 2021, 80% of all donations will be given on a credit card. Because most platforms do not process money, donors are paying up to 50% of the donation to middle men without knowing. We have found that most nonprofits are unaware as well, as most platform fees are hidden. Donors should educate themselves by reading the fine print on these platforms then educate the nonprofits they support. More donations can reach the efforts for which they were intended by donors demanding that nonprofits reduce technology costs.”
How does Givebox foresee the nonprofit industry shifting in the next years?
“Small nonprofits are being forced to accept more credit card donations over cash donations. And as government assistance decreases, larger nonprofits are turning to micro donors, who mostly prefer credit cards as their payment method. Without proper planning, technology and processing fees can drain the majority of these credit card contributions. Nonprofits must start thinking like for-profit businesses by reducing technology costs, protecting donor data and embracing modern fundraising. Anything less, and local nonprofits that our community relies on may disappear.”
Where does Givebox fit into these changes?
“Givebox moves philanthropy forward. In addition to free technology and industry low processing fees, Givebox gives nonprofits all the data they collect and ensures the data is protected
through AI Cyber Security and Machine Learning Fraud monitoring. Though data security is a main talking point in other industries, philanthropy is behind in that conversation. Scammers using fake and stolen cards to defraud nonprofits are on the rise. Overnight, philanthropy has become the most vulnerable industry in recent history. Givebox provides the first technological protective support system for philanthropy.”
What do you see for the future of Givebox?
“The Givebox platform will forever be evolving around the needs of nonprofits. The tools we provide today are solutions to problems that nonprofits faced yesterday. We did not build Givebox; nonprofits did. Every nonprofit adds to future features with their requests and the requests of their donors. A popular request has been to add checking account tools, which will further save nonprofits money—we, of course, are developing this feature.”
What three tips would you give a newly founded nonprofit?
“1. Never sign any technology or processing contracts. 2. Do not trust Donor Funds. It’s a fast way to start accepting credit cards but nonprofits lose donor data and subject donors to solicitation from ads and other charities. 3. Take the few extra steps and obtain a merchant processing account. Nonprofits need the financial features that comes with merchant accounts. Givebox has automated the merchant account process, making it easy for any size nonprofit to receive tools historically reserved for the largest organizations.”
What is a goal for Givebox in 2020?
“I have met with, talked to, and given keynote speeches and technology demos to thousands of nonprofits. In my opinion, the biggest issue in the philanthropic industry is simply a lack of technology information available to nonprofits. Creating the world’s most groundbreaking fundraising platform is the first step in keeping organizations informed of the rapid advances in technology and finance. In 2020 we will focus on connecting experts in these fields to nonprofits so philanthropy can advance along side other industries.”