What is CharityX?
CharityX is a new way to support charity. For donors, CharityX helps you make a significant, long-term impact for any charity you care about. For nonprofits, we deliver 100% cost-free, dependable revenue—from outside normal fundraising efforts.
Is CharityX a nonprofit?
The nonprofit structure is a powerful force for good, and the best choice for many organizations. But it’s fundamentally limited in it’s ability to scale, to grow quickly and efficiently.
Instead, we opted to form a benefit corporation. A benefit corporation is a hybrid structure that combines the fast growth of a for-profit, with the accountability and transparency of a nonprofit.
Also, it was simply faster to form a b-corp, and it’s much easier to switch from a b-corp to a nonprofit rather than the other way around. A b-corp structure provides flexibility moving forward, and gives us the best hope to fulfill our mission.
Does 100% of my donation really go to charity?
Yes. 100% of your donation goes to the charity you choose. Here’s how we’re making CharityX a free and efficient source of funding for nonprofits:
- We pay for the credit card processing fees, which add up to about 5% of every donation.
- To minimize processing time for nonprofits, we combine donations to the same charity and deliver a lump sum every month.
- To provide dependable revenue (what nonprofits need to effectively plan services), all donations through CharityX are monthly.
Each month, we share the exact numbers behind CharityX on our progress blog.
Which charities can I donate to?
How does my donation get to my charity?
We combine all donations to each charity and deliver a simple check every month. A single combined check minimizes processing and eliminates the transfer fees associated with credit card and bank transfers.
Our goal is to eventually have donations through CharityX route directly to your charity’s bank account. Until then, you can follow the exact numbers behind CharityX here.
Is my donation tax deductible?
Not yet. We faced many tough decisions on what to include in the first version of CharityX. Unfortunately, the ability to process tax-deductible donations didn’t make the cut.
We hope that for many this won’t be an issue. For those claiming the standard deduction, charitable donations are never tax deductible. And for everyone else, our suggested donation is $120/year, which amounts to little savings.
That being said, we aim to enable tax-deducible donations as soon the concept of CharityX is proven.
We believe that tax deductible donations are essential to building the best possible way to give.
What is CharityX Support?
We want CharityX to be the most efficient way to donate. If you donate $10, your charity gets $10. We even pay for credit card processing fees which amount to about 5% of every donation.
To make this possible, we ask for your support. Along with your monthly donation to charity, you have the option to include a small tip for CharityX. The default amount is 8% of your donation—5% to pay processing fees, and 3% to cover our operating costs.
We believe everyone should give what they can. If supporting CharityX will prevent your donation for any reason, financially or otherwise, please skip it. But if you’re able to help make our mission possible, we truly appreciate it.
How is impact calculated? Is it real?
Your impact is the sum of your donation and all of the donations you inspire. That’s your donation + your friend’s donations + your friend’s friend’s donations + your friend’s friend’s friends donations + …
If you invite even one friend, it can quickly add up to $100s or even $1000s for charity, every month. CharityX tracks everything for you on your personal dashboard.
Most importantly, it’s real. All the donations you see are a direct result of your decision to donate and inspire. Your impact—what you choose to do in life—matters. Even if it seems small. CharityX can prove it.