Givebox is a payment facilitator and technology company empowering nonprofits with a platform that has free fundraising tools, digital banking and advanced cyber-security. CEO and founder Josh Rowley has worked in the financial technology industry for the past decade and started Givebox in 2016.
Tell us about your featured charitable organization.
“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: Givebox is a technology provider AND a payment processor, authorizing us 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 donors through cyber-security and fraud monitoring. We combine financial technology and fundraising technology to help modernize philanthropy.”
What are some simple ways our readers can give back?
“Statistics show that as early as 2021, 80% of all donations will be through credit cards. Because most platforms do not process money, donors are unaware that up to 50% of their donation goes to middle men. We have found that many nonprofits are unaware as well, since most platform fees are hidden. Donors should educate themselves by reading the fine print on these platforms, then pass that knowledge to the nonprofits they support. More donations can reach the efforts for which they were intended if donors demand that nonprofits reduce technology costs.”
How do you foresee the nonprofit industry shifting over the next few years?
“Small nonprofits are now 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 contributions. Nonprofits must start thinking like for-profit businesses by reducing technology costs, protecting donor data and embracing modern fundraising. Anything less, and unprepared nonprofits may be forced to close their doors.”
Where does Givebox fit into these changes?
“In addition to free technology and industry- low processing fees, Givebox ensures that donor 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. Each nonprofit contributes 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 to nonprofits?
“1. Never sign technology or processing contracts. Platforms that require contracts are often insecure with the features they offer. 2. Do not trust donor funds, even though it’s a fast way to start accepting credit cards. Donor funds often sell donor data to ad companies and other charities. 3. Obtain a merchant processing account as the financial features are desperately needed by NPOs. For instance, a Dynamic Descriptor is a feature unique to merchant accounts. Givebox has automated the merchant account process, making it easy for any size nonprofit to receive financial tools historically reserved for only the largest organizations.”
What does Givebox have in store for 2020?
“Givebox will focus on broadcasting valuable financial technology information to charities, further educating and advancing philanthropy.”