This article was originally posted on southbay.goldenstate.is and written by Eliza Krpoyanalib. To view the article on southbay.goldenstate.is, please click here.
“Every penny makes a difference,” says every nonprofit that has ever raised money. Yet in an industry dependent on donations, a chunk of charitable contributions goes toward online banking and processing fees. With a mission for nonprofits to experience financial freedom, Manhattan Beach resident Josh Rowley created Givebox—a banking platform that provides sophisticated fundraising tools for charitable organizations of all sizes.
A technology expert, Josh first set out to give back to charities before learning the financial and technology void in fundraising. “My cofounder Don Yang, a Hermosa native, tried to raise money to build a skate park for underprivileged children in the Philippines,” he shares. “When I tried to help him with my experience in tech, I found that no matter the amount we raised, almost 50% of the money was going to banking and fundraising platforms. It was then that I realized that a company was going to have to bridge the two worlds of finance and philanthropy to solve this issue.”
The fundraising, banking and payment platform is the first of its kind. Because they have partnered with Vantiv/Worldpay—one of the largest payments providers in the world—Givebox is able to give the lowest processing fees and free fundraising technology to every nonprofit.
“Fundraising is hard for smaller nonprofits as they cannot afford the premium technology that is currently available. So we have made the platform free to all nonprofits with the lowest banking fees in any industry,” says Josh. “My passion for philanthropy has driven me to blueprint a plan in which every nonprofit, small or large, has the opportunity to change the world.”
Givebox shares that their goal is to see the more than half a million nonprofits that currently do not have access to technology get the support they need. “Many of our hometown South Bay nonprofits are already experiencing an increase in donations without the excessive costs that come with other fundraising and banking platforms,” Josh shares.
WHY PUT OUR FUNDS, TIME AND AWARENESS TOWARD NONPROFIT?
Investing in a nonprofit is truly a gift that keeps on giving. Here, three reasons to put our funds, time and awareness toward nonprofit organizations, according to Givebox CEO and founder Josh Rowley.
- “Government funding is dwindling for nonprofits. This has caused local communities to rely heavily on local, smaller nonprofits. Frankly, these organizations are not prepared for the influx in credit card donations. To survive, they must adapt quickly to a cashless world.”
- “Banking fees have increased in every industry, including philanthropy. And nonprofits have been left behind by financial technology. Donors and nonprofits should not be losing the majority of funds in transit to philanthropic efforts. Donors need to take the time and research the amount of money that is being syphoned off to the middlemen and ask their nonprofit to change providers.”
- “Local nonprofits lack the tools to connect with a younger donor base. This has caused donations to dip in recent years for smaller nonprofits that cannot afford mobile giving technology. Givebox provides a mobile app where any size nonprofit can raise money and awareness for free. And any donor can stay in touch with every nonprofit and share their efforts with their social networks.”
