Giving Fund Administration Fees
A GiveWise Giving Fund is free to open and use, for all fund balances under $25,000. Balances greater than $25,000 are charged a monthly fee based on following tiered structure.
|Tier||Fund Balance||Fee %|
|1||$0 to $25,000||No Fee|
|2||$25,001 up to $500,000||1.0%|
|3||$500,001 up to $1,500,000||0.5%|
Declining fee structure and charged monthly.
Fees for Contributions
GiveWise will also recover any processing fees charged by banks and credit card companies for incoming contributions. These fees do not impact the tax receipt, but are withdrawn from the Fund Balance. For example:
- Credit card contributions are charged directly by the payment processor at a rate of 2.2% of the contribution plus $.30 per transaction.
- Contributions transferred via wire will be charged a $25 recovery fee at the time of processing.
Grant Administration Recovery Fees
Our goal is to establish efficient money movement to registered charities by maintaining a digital funds transfer process for grants. All charities with a digital payment relationship will receive 100% of granted funds. For charities without a digital payment relationship, the full grant will be sent along with the first two cheques, subsequently a $25 Administration Recovery Fee is withheld for all cheques sent.