Where does my money go?
96.9% of your dollars go directly to the organizations that you select. There is a small (3.1%) fee for credit card transactions and our Donor Advised Fund (Network For Good), but this is very similar to giving to charities through other platforms or directly (card fees are generally in the range of 3%). We fund the "overhead" of the organization through other means, and 0% of your donation goes to this.
How often do I give 1%?
You can choose monthly, quarterly or annually. The pledge is for at least 1% of your gross income. You can log in to Network for Good and edit your donation at any time.
Is OFTW a 501(c)(3) nonprofit organization?
The Life You Can Save is a “fiscal sponsor” of One for the World. This is an arrangement where a 501(c)(3) nonprofit organization (in OFTW's case, The Life You Can Save) can essentially “adopt” another organization that wants to be recognized as a non-profit, but does not want to go through the process of submitting for 501(c)(3) officially. We are subject to the same financial scrutiny that a regular 501(c)(3) is exposed to as a result of this status, including annual filings with the IRS, through The Life You Can Save.
What is OFTW's relationship with The Life You Can Save?
The Life You Can Save is our “fiscal sponsor” first and foremost. They also provide operations, financial, accounting, charity selection and other support.
What % of my donation is going to overhead vs. the charities?
96.9% of money goes directly to the charities that you have selected! The 3.1% fee is what we have to pay our processor, Network for Good, and our “donor advised fund” National Philanthropic Trust. We are actively pursuing options to get this fee down even further, to maximize the impact of your dollars!
Who funds OFTW's overhead expenses?
There are a combination of donors who fund our small overhead: The Life You Can Save , past donors who are passionate about the work we do and want to help us expand, and occasionally dollars from campus associations and students government. We’ve found that each dollar we invest in OFTW returns up to 46x dollars raised! If you’d like to support our overhead expenses, please send us an email at firstname.lastname@example.org, or you can make a one-time or recurring donation to help cover our costs here.
How do I modify my donation?
We are using a 3rd party organization, Network for Good, to manage donation processing. You can login through their site to edit your donation or give them a call at (888) 284-7978 between 8 AM - 7 PM EST. Please note when you call that your donation is routed through One for the World to National Philanthropic Trust (NPT), so NPT may come up / be useful when you are trying to get support on your account.
What happens to my donations if I choose to donate to a charity that is removed from your list of recommendations?
This depends on how you originally set up your donation:
- If you selected our “Top Picks”... then your donation will get reallocated to the latest top picks as our portfolio adjusts.
- If you selected our “Entire Portfolio”... then your donation will get reallocated to the latest set of charities in our portfolio.
- If you selected a specific charity... then we will get in touch with you to explain our reasons and ask you if you want to switch your donations to an alternative charity on our list. We will not change your donation in this case; you will have to update your selection by logging in to your account on Network for Good.
How do I get receipts for my donation to deduct from my tax filing?
You will receive an email every time that we receive a donation from you (monthly, quarterly or annually) which can serve as receipts for the IRS. In order to find these receipts search for emails from email@example.com (until July, 2017) or firstname.lastname@example.org (from August, 2017 through end of year) with the subject line "Thank you for your donation to". Each one of these monthly / quarterly emails also acts as a tax receipt, so you'll need to include all of them in your tax filing. If you can’t find all of your receipts, you can also call Network for Good at 888-284-7978 and they can send you all of the receipts again.
How do i cancel my donation?
Log in to Network for Good and click on “cancel my recurring donation”, or call Network for Good at 888-284-7978 between 8 AM to 8 PM EST, Monday to Friday.
What if i want to give more / less than 1%?
Log in to Network for Good and click on the “Edit” button under the first section titled “You are currently donating:”. Select “Other” and then enter the amount and frequency of your adjusted donation.
How can I get more involved?
There are three main ways you can get more involved:
- Get involved in a OFTW chapter at your school! We currently operate at Wharton MBA, Penn Undergrad, Penn Law, Columbia, Harvard Business School, Harvard Law School and MIT Sloan. Fill out this form or drop us a note (email@example.com) and we will get in touch!
- Launch a new OFTW chapter! If your school does not have an OFTW chapter and you would be interested in launching one, please reach out (firstname.lastname@example.org) or fill out this form. We have experience launching new chapters, the resources and game plan to make it a success, and would love to support you in building a culture of giving at your school!
- Get involved at the national level! We have a small board of volunteers who help run the organization, along with formal support from The Life You can Save. Fill out this form or email email@example.com, and we can see how your skillset could help us grow the organization! We are always looking for tech, marketing, legal, business development and operations skills.
Why can't I give a one-time donation?
Our mission is to have a long-term sustained impact on philanthropy, and to make it super easy to donate. As such, we feel that recurring donations are the best way to make sure that people continue to give, while making it easy to set up a donation once, vs. having to remember to set it up every month or year.
How do I get a matching donation from my employer?
We are currently working on the Benevity giving platform, which works for many companies including those listed below. If you are not working at one of these companies, ask your corporate giving contact what platform they use, and we can get added to their platform relatively quickly.
Please note that, at this time, matched funds can only go towards One for the World's operating expenses. We are in the process of sorting out the accounting challenges, and should be able to direct the corporate matching dollars to end charities by Q2, 2018. In the meantime, rest assured that these matched dollars have a 46x ROI on raising additional dollars!
Platforms that you can currently match through:
- Benevity Platform companies (not exhaustive): ADP, Ameriprise, Apple, Samsung, CP, Cargill, Coca-Cola, Google, Honda, Microsoft, Prudential, AstraZeneca, SAP, UnitedHealthGroup