How much do you charge for your services?
We do not charge for products or services rendered. That is a core component of a donation being charitable, which means that it's tax-deductible for you and tax-exempt for us.
However, aligned with our interest in being a 4-Star rated organization according to Charity Navigator, we do recommend that you instruct us to allocate the funds you disburse to us in the following manner: 72.5% Programs, 20% Fundraising, and 7.5% Administrative. For example, if you want us to make a $1,000 scholarship, then you should make a donation of $1,379.32.
I see that your organization helps athletes attain scholarships, but there is no additional information provided about how the process works. Could you please clarify or elaborate more about that?
We don't help athletes attain scholarships. We help coordinate the funds to administer the application, review, and distribution process so that it is ensured to be legal and NCAA compliant.
When we have the funding for scholarship (whether we create one from our own funds or whether someone else creates one for us to administer), a profile for it and it's criteria is created on the website.
Applicants will apply and "compete" during a specified period of time. Competing usually involves engaging the community in philanthropy from as simply sharing their profile on social media to that plus additional actions required by the scholarship. The actions are measured and a committee of board advisors review that "scoreboard" and vote on who should receive the scholarship. That review process is also monitored with guidelines to ensure its legality.
When the winner(s) are chosen, then they are announced and the funds are distributed to the university directly.
How do grants work?
Similar to scholarships, grants may have a competitive structure. They are also sometimes merely awarded at our discretion when we see something happening in the community of which we want to take part.
However, most of our grants are more aligned with the crowdfunding format. People create projects, athletic teams create budgets, or organizations like other non-profits and NGO's will create a profile outlining their need. If that is aligned with a legal charitable activity, then we will approve their profile for publication. They can leverage social media and other communication channels to raise money through their profile on our website. The best part about it is that the funds that can be raised are unlimited. We do not currently charge a fee for this service either, and it's likely that we never will but instead ask their donors to consider adding an additional amount at their discretion.
How to loans work?
Our loans are administered through Kiva's platform. You can learn more about that on their website.
In general, we get notifications when new borrowers publish profiles on their website with keywords like "athlete", "olympic", "football", etc. We review the profile to ensure that they are an athlete or related to one, not just selling sports equipment or merely like to play sports but actually competing or used to compete formally (not necessarily in college or professionally).
We then make a loan and encourage others to also do so on social media with tags to related organizations and athletes.
How to social-impact bonds work?
These are a huge endeavor. We have not yet been able to create one, and this is very far away. In it's simplest form, the bond will have a low yield payment to contributors/investors guaranteed by a local government agency if it achieves the goals of it's impact on the community. If it doesn't, then it converts to a tax-deductible grant. The yield, if paid, like a municipal bond, is also tax-free.