The Network for Good Giving System Agreement: What You Need to Know
The Network for Good is an online platform that enables individuals and nonprofits to connect for social good. The platform allows donors to support their favorite causes and nonprofits to raise funds efficiently. The Giving System Agreement governs how nonprofits and donors can use the platform and sets forth the terms and conditions of the relationship between Network for Good and its users.
Here are the key highlights of the Giving System Agreement:
1. Eligibility: Nonprofits must be registered 501(c)(3) organizations with the IRS to be eligible to use the platform to receive donations. Donors must be individuals who are at least 18 years old and are legal residents of the United States.
2. Donations: The Giving System Agreement sets forth the terms and conditions of the donation process. Donors can choose to make a one-time or recurring donation to a nonprofit. Network for Good processes the donation and forwards the funds to the nonprofit, minus a processing fee.
3. Fees: The processing fee is currently 3% of the donation amount, plus a transaction fee of $0.30. Nonprofits must also pay a monthly subscription fee to use the platform.
4. Privacy: Network for Good takes privacy and security seriously and has implemented measures to protect personal and financial information. Donors can choose to remain anonymous, and nonprofits must agree not to share donor information with third parties.
5. Compliance: Nonprofits must comply with all applicable laws and regulations, including those related to fundraising, taxes, and reporting. Network for Good reserves the right to suspend or terminate the account of any nonprofit that violates the terms of the Giving System Agreement.
6. Dispute Resolution: The Giving System Agreement provides for dispute resolution through arbitration, rather than litigation in court. This means that any disagreements between Network for Good and its users will be resolved by a neutral third party.
In conclusion, the Network for Good Giving System Agreement is a critical document that outlines the terms and conditions of the relationship between the platform and its users. Nonprofits and donors must understand and agree to the agreement before using the platform to ensure a smooth and successful donation process.