1. About your account

  2. Depositing funds

  3. Donating funds

  4. Investing funds

  5. Fees

About your account

What does it mean to have a DoubleImpact Donor Advised Fund?

Just like with a charitable foundation, everything that you deposit into your DoubleImpact DAF account is tax-deductible. You then have control over how, and when, the funds should be donated, and invested.

Who can create a DoubleImpact account?

  • Individuals, over the age of 18, can create a DoubleImpact account. Parents and grandparents can also create sub-accounts for family members below the age of 18.

  • Companies can create DoubleImpact accounts for themselves (Corporate DoubleImpact accounts) and for their employees (Employee DoubleImpact account).

Can I create multiple DoubleImpact accounts?

Yes. For example, you might wish to create a DoubleImpact account for your child for their bar-mitzvah, or a DoubleImpact account to collect donations in memory of someone who has passed away. Each account is accessible to you through your online account, the same way that you would manage your two bank accounts using the same username and password.

Can I transfer funds between my DoubleImpact accounts, or to someone else's Account?

Yes, you can transfer funds between your accounts, and also into someone else's account. For example, if you have a Corporate DoubleImpact account, you can transfer funds into the DoubleImpact account of your employees.

Is there a minimum deposit amount?

No. There is no minimum amount for creating a DoubleImpact account.

Additional Account Owners

You may add an additional Account Owner to your DoubleImpact account (for instance, your spouse). The additional account owner will have full privileges over the account, just as you would.

Authorized Parties

As an account holder, you may authorize relatives, employees, advisors, or family members to take various actions on your behalf, such as investment decisions, donation allocations, and receiving other financial information. You create Authorized Users and set their authorizations through your online DoubleImpact account. These Users can then access your DoubleImpact account (or can contact us by telephone). and take the actions that you permit them to take.

Successors

You can decide what will happen to the funds in your account after you pass on: to pass them into the account of another individual (or individuals) or to donate them to a specific charity (or charities).

Creating an account online

Your DoubleImpact account can be created and accessed online. When registering, you'll be asked to provide some information about yourself, and your giving preferences. When complete, your application will be sent to our onboarding team for review, who may reach out to you by telephone to schedule a brief chat to discuss your account (this may include a video conversation to verify your identity).

If you're opening an account for a company, we'll also need the company’s incorporation documents, and perform a video conversation with one of the company's principals (CEO, President, accountant, attorney), who must also be a signatory of the company.

Using your account

Your online account allows you to

  • View the value of your DoubleImpact account

  • See the funds that you have in cash (and ready to donate), and the funds that are currently invested.

  • View and manage your investments.

  • View and download all of your transactions

  • Allocate your funds to charitable organizations

  • Receive updates and send messages from your favorite charities

  • Add additional owners, authorized users, and successors.

  • Create additional DoubleImpact accounts

  • Fundraise for one of your DoubleImpact accounts.

Depositing Funds

Are my account deposits tax-deductible?

There are four types of DoubleImpact accounts:

  • Set up an American account if you want to receive a U.S. tax-receipt.

  • Set up an Israeli account if you want to receive an Israeli tax-receipt.

  • Set up a Canadian account if you want to receive a Canadian tax-receipt.

  • Set up a British account if you want to receive a U.K. tax-receipt.

Who are the charities who host my DoubleImpact donor advised fund?

  • American accounts are hosted by America Gives, Inc., a U.S. 501(c)3 public charity, which since 2008 has helped over 200,000 donors contribute to 1,400 different charities in the U.S. and in Israel

  • Israeli accounts are hosted by the IsraelGives Foundation, an Israeli charity founded in 2007 that has been on the forefront of the promotion of philanthropy in Israel.

  • Canadian accounts are hosted by Canada Charity Partners, a Canadian CRA-registered charity that since 2015 has been a leader in facilitating giving to Jewish charities in Canada and in Israel.

  • British accounts are hosted by U.K. Gives, a registered charity that facilitates giving to charities in the U.K. and in Israel.

What currencies can I donate in?

From any account you can donate in any currency. For example, if you set up an Israeli account you can donate in Israeli Shekels and in U.S. dollars. You will receive an Israeli tax-deductible receipts for all deposits.

Funding your account

You can deposit into your DoubleImpact account in the following manners:

  • Check

  • Bank transfer

  • Credit card and Paypal

  • Virtual currencies

  • Publicly traded securities

  • Bonds

  • Mutual Funds

  • Fixed Assets and Real-Estate

When we receive your donation, we will work quickly to process your deposit and allocate it to your account (generally within 3 business days). You will then receive a tax-deductible receipt for your deposit, which is sent to you by email, and also stored in your account.

The value of your donation

The method of your donation affects how we calculate its value:

  • For cash and credit card donations, we issue you a tax-receipt for the amount that we receive from you.

  • For virtual currencies, bonds, mutual funds, or publicly traded securities, we issue a tax-receipt based on the value of the security at the moment that it is received.

  • In the case of fixed assets and real-estate, after receiving the contribution we will seek a value assessment and then base the tax-receipt on the valuation. We will then work to sell the asset at the first opportunity.

  • In the case of restricted or closely held stock, options, real estate, art, or other unusual assets: We will review the proposed contribution with our legal counsel and to ensure, among other things, that we do not assume any obligations or liabilities and that the contributed asset can be liquidated within an appropriate period of time. Acceptance of such contributions is at our discretion and may be subject to conditions and/or legal and accounting fees. Please call us to discuss your proposed contribution.

How to donate by credit card or PayPal

Enter into your account, enter your credit card or Paypal details, and select the sum you wish to contribute. You'll receive a tax-receipt the moment that the transaction is confirmed, and the funds will appear immediately in your account.

How to donate by check

When donating by check, first enter into your account and record your donation. This will help us to look out for your donation and record it promptly. If possible, please mark your account number on the "memo" section of your check. Once your check clears, we will record it, issue you a tax-receipt, and allocate the funds into your account.

If you have an American account, checks should be made out to "America Gives" and mailed to:

America Gives

1732 1st ave. #27091

New York, NY 10128

If you have an Israeli account, checks should be made out to "IsraelGives Foundation" and mailed to:

IsraelGives Foundation

Chuchit 19/20

Zichron Yaakov

3091670

If you have a Canadian account, checks should be made out to "Canada Charity Partners" and mailed to:

Canada Charity Partners

5785 Smart ave.

Cote St Luc, Quebec

H4W2M8

If you have a British account, checks should be made out to "UK Gives" and mailed to:

UK Gives

483 Green Lanes

London, England

N134BS

How to donate by wire transfer

When donating by wire transfer, first enter into your account and record your donation. This will help us to look out for your donation and record it promptly. Once your wire transfer clears, we will record it, issue you a tax-receipt, and allocate the funds into your account.

If you have an American account and donating in U.S. dollars, please send your wire to:

  • Beneficiary Name: America Gives Inc.

  • Account Number: 9801745474

  • Routing Number: 084106768

  • Bank Name: Evolve Bank & Trust

  • SWIFT / BIC Code: FRNAUS44XXX

Click here for a formal bank letter.

If you have an American account and donating in Israeli Shekels, please send your wire to:

Account owner: America Gives

Bank: Bank Mizrahi (20)

Branch: 061

Account: 596977

IBAN: IL860204610000000596977

SWIFT: MIZBILIT

If you have an Israeli account, please send your wire (in any currency) to:

Account owner: IsraelGives Foundation

Bank: Bank Mizrahi (20)

Branch: 423

Account: 295902

IBAN: IL900204230000000295902

SWIFT: MIZBILIT

If you have an Canadian or British account, please contact us for wire details.

How to donate publicly traded securities

Please contact us for information on how to transfer publicly traded securities, bonds, mutual funds, fixed assets and real-estate, and virtual currencies. When they are received, we will record the fair market value at the moment that they were received by our brokerage, and issue you a tax-receipt for this amount. We will then attribute this amount to your account.

Gift Aid (British accounts)

When you make a deposit into your account, if you are eligible for GiftAid, we will submit the claim to the HMRC and if accepted, will add an extra 25% to the value of your deposit. Gift Aid claims are generally processed and applied within 30 days of deposit.

Can others donate into my account?

Yes, in two ways:

  1. If you create a fundraising campaign, all funds donated (by others) will go into your DoubleImpact account.

  2. Someone with a DoubleImpact account can transfer funds from their account into your account.

Donating Funds

To which charities and non-profit organizations can I donate?

All charities that you can donate to (what we call "qualifying organizations") are searchable through your account.

  • If you have an American account, you can donate to any charity in the U.S. and in Israel.

  • If you have an Israeli account, you can donate to any Israeli charity that holds a section 46 approval, or is in its first two years of operations.

  • If you have a Canadian account, you can donate to any charity in Canada and in Israel.

  • If you have a British account, you can donate to any charity in Canada and in Israel.

Placing the donation through your online account

Your online account will allow you to search through the charities that meet the criteria listed above. You can then select a charity, decide the amount you'd wish to give, when you'd like to give it (now, or in the future), and the frequency of your donation (one-time, monthly, yearly)

When do you distribute the funds that I donate?

After you decide how to donate funds from your DoubleImpact account, we will confirm that the charity meets the criteria listed above. If everything is ok, we will make a wire transfer to the recipient organization, on Sunday of every week.

Minimum distribution requirements

If you have an Israeli account, you're required to donate 5% of your account assets every year. If you have an American, Canadian, or British account, there is no minimum that you need to distribute every year.

The DoubleImpact Giving Committee

The DoubleImpact Giving Committee plays a number of roles:

  • The Giving Committee will ensure that donations are only allocated to qualifying organizations.

  • If you are no longer able to make decisions about the use of the funds in your account (for example, if you pass away and have not appointed an additional account owner or a successor), the Giving Committee will decide where and how to distribute the assets in your DoubleImpact account. The Committee will prioritize organizations within your favorite categories of activities.

  • The Giving Committee is also mandated to discuss and resolve outstanding and irregular issues that are faced with respect to the allocation of donations.

Investing funds

You can decide whether to invest the funds that you deposit into your account. If you do, you will view the investments as part of your Portfolio. Through your account, you can see the value of your portfolio (which we try to keep as updated as possible), as well as the impact of your investments. The value of your portfolio, plus the funds that you have not yet invested, make up the total value of your account.

Investment Principles

We have a number of investment options for you to choose between, all of whom meet our "investment principles", which are to:

  • Prioritize impact - on the world or on Israel - as an investment class

  • Be within reasonable limits of risk.

  • Provide reasonable liquidity, so that the funds can be donated.

  • Done in accordance with national charity and tax laws.

The Investment Committee

Guided by our Investment Principles, the Investment Committee, composed of investment professionals, selects the investment tracks that you may invest your account funds in.

Investment tracks and options

All investment options are pre-selected by the Investment Committee, and appear in your account (and on the DoubleImpact website). However, there are a number of circumstances in which you can invest or hold stocks or securities that were not pre-selected by our Investment Committee:

  1. If you deposit stocks or securities, you can (of course) hold them in your portfolio.

  2. If you deposit more than $500,000, you can select an investment advisor who can recommend investments that are not pre-selected by our Investment Committee. However, the Committee must approve the advisor's recommendations, and if approved, the fulfillment will be performed by DoubleImpact.

Investing methods

To make an investment, you'll first select one of two allocation methods:

  1. In our manual method, every time you want to make a new investment, you'll select the amount and track you'd like to invest in. If you make a new deposit, you'll have to decide whether and how to invest it.

  2. In our proportional method, every time you make a deposit, we'll allocate it according to the proportions that you define. For example, if you define that 50% of your assets should be held in cash (money-market) and 50% invested in investment track 1, then every time you make a new deposit, we'll automatically invest 50% of the new deposit in track 1.

    We ask that you change your proportions only up to 4 times a year, because it requires rebuilding your portfolio.

Placing investment requests

In your account, you'll see the various tracks in which you can invest. Select the amount (or proportion of assets) that you'd like to invest, and submit the request. The system will know to limit your request to the amount of available funds that you have in your account (what we call your "cash balance").

The request will then be forwarded to the DoubleImpact team, who will work to fulfill it promptly. When they do, they will record the value of the transaction, and deduct it from your account's cash balance.

Selling investments

You can sell investments at any time. You can sell one of your investments by clicking on the "sell" icon next to the investment. The request will be forwarded to the DoubleImpact team, who will work to fulfill the request promptly. Once done, we'll record the value of the sale, and allocate the proceeds into your account's cash balance.

Disclaimer

Please note that investments are subject to risk. You may wish to speak with your financial advisor about a strategy for recommending the investment of the assets in your account. Market fluctuations may also cause the value of investments held to be worth more or less than the value of the original contribution. Past performance of investments does not guarantee future results.

Income that accrues to the fund is not subject to tax, but charitable deductions may not be claimed with respect to that income.

Fees

  • There is a 1% annual management fee on the assets in your DoubleImpact account. This fee is deducted from your account's assets on a monthly (proportional) basis.

  • If you choose to invest your funds, some tracks may incur investment management fees. Contact us for details.

  • If you have an American, Canadian, or British account and wish to donate to a non-profit organization in Israel, a 2.5% allocation fee will apply, to cover the expenses that we incur in establishing the "charitable equivalence" of the organization, as demanded by U.S. law.

  • If you deposit funds by credit card or Paypal, a 3% transaction fee will apply.

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