Charityvest started with a simple premise: Giving back should be easy.
Founded by Georgia Tech grads Stephen Kump, Jon Koon and Ashby Foltz, and backed by Y Combinator, Charityvest believes that their technology platform does just that, by empowering individuals to create and run their very own tax-deductible charitable fund.
And now with the launch of Workplace Giving, the latest addition to Charityvest’s platform, companies can easily make philanthropy part of workplace culture by streamlining corporate giving programs.
The traditional model of charitable giving requires employees to navigate outdated company matching websites. Many donation platforms charge high transaction fees, and employees can find themselves stuck keeping track of old receipts in order to claim any deductible benefits come Tax Day.
Donations made through Charityvest funds are consolidated into one tax receipt so individuals can easily manage and track their charitable giving throughout the year. Users can also contribute stock or cryptocurrency directly into individual tax-deductible funds.
Workplace Giving launched in December 2019 with individual fund options. The program helps companies large and small offer an automatic employee matching program with zero transaction fees, while empowering employees to give money to nonprofits they care about.
The standard Workplace Giving plan is free, but a small per-user subscription allows companies to easily set up matching programs and gain monthly insights into where employees are sending their money.
To date over $2 million of charitable giving has been raised on the platform.
Charityvest is part of a growing list of Atlanta-based startups who have transformed banking, lending, and payment options, such as Kabbage and Cardlytics. According to the Metro Atlanta Chamber of Commerce, Atlanta is home to over 160 FinTech companies.
In April, the company launched Charity Gifts, making it easy for individuals to send money from their fund to another person, who in turn decides how and where to donate.
Co-founder Stephen Kump got the idea for Charityvest after working as a philanthropic consultant. Recognizing that large donors benefit from access to donor-advised funds (DAFs), Charityvest launched to bring such fund opportunities to the general public.
Charityvest founders believe now is the time to innovate individual and corporate donations. As 2020 has reshaped how companies and individuals think about equality and accessibility, Kump noted that there is an increased “sense of urgency around giving back.”
According to Kump, this new workplace platform was built to “be a tool in the hands of companies to be engaged during tough times like these.”
Watch more about the employee experience on Charityvest here.