Q. What is WyoGives?
WyoGives is a 24-hour day of online giving designed to bring the state together as one community to raise money and awareness for Wyoming's nonprofits. WyoGives will take place July 15, 2020 from midnight to 11:59 PM.
WyoGives is an initiative of the Wyoming Nonprofit Network, the state association for nonprofits. Our mission is to represent the collective voice of the Wyoming charitable nonprofit sector and bring best practices, resources and support to the nonprofit community.
Q. How does WyoGives work?
Donors visit www.WyoGives.org and use the search function to either browse for organizations of interest or find a specific organization to make a donation. Donors can also connect to the site with a direct link sent to them via email or shared on social media.
Q. Which organizations can participate?
Organizations that are verified 501(c)(3) charitable nonprofits that are headquartered or provide services in Wyoming and in good standing with the Wyoming Secretary of State.
Q. Why should my organization participate in WyoGives?
- WyoGives is a great way to boost your organization's fundraising efforts and provides eligible nonprofits the opportunity to reach new potential donors with visibility that only a state-wide effort can generate.
- Your nonprofit and its friends, along with media partners, will help drive Wyomingites from across the state to the WyoGives.org website, where you tell your organization's unique story with photos and videos.
- Online fundraising is very cost effective when compared to special events and direct mail.
- By securing a match for your organization and taking advantage of WyoGives prizes, your organization can create a fun and compelling giving opportunity that can engage new donors and inspire existing donors to give more.
Q. What is the cost to participate?
The fee to participate in WyoGives depends if you are a member of the Wyoming Nonprofit Network.
The registration fee for members is $50. Interested in joining? Go to our website and and learn more about membership.
The registration fee for non-members is based on your annual operating budget. For organizations with an annual operating budget of $0 to $99,999, the fee is $100; annual operating budget of $100,000 to $999,999, the fee is $150; annual operating budget of $1,000,000 or higher the fee is $200.
Q. Who is GiveGab?
GiveGab is Wyoming Nonprofit Network's technology partner for WyoGives. GiveGab is an online giving platform that helps nonprofits raise money, engage donors and manage volunteers quickly and efficiently. GiveGab offers a full portfolio of simple and easy-to-use products that allow organizations to function in a more streamlined manner.
Q. How much of each donation goes to the organization?
GiveGab retains a 2.5% platform fee from all donations. Credit Card processing fees are an additional 2.2% + $0.30 for all major credit cards (Visa, MasterCard, American Express, and Discover). Plaid/ACH payment is a $3.00 flat fee ($100 minimum donation).
Donors are given the option to cover the fees. All donations will be officially receipted by your organization. GiveGab does this automatically on your organization's behalf after each gift is made online. Any donations processed outside of the Giving Day Period, through GiveGab.com, or subsequent recurring donations are subject to transaction fees outlined on the GiveGab.com pricing page: info.givegab.com/pricing.
Q. How does my organization know who has donated?
All participating organizations can access donation information via their administrative dashboard. The report is updated in real-time and will include the donation payout date, donation information (including a breakdown of the fees), and the donor's name and contact information.
Q. Can more than one person claim administrative access on our organization's page?
Yes, pending approval from an existing administrator. All administrators will need to create a profile on GiveGab. Every person who has administrative access will receive emails about updates to their page.
Q. When will we receive the donated funds?
Organizations will receive all donations, less any uncovered processing fees, within 5 business days via direct deposit as long as bank routing and account information has been verified. GiveGab uses a PCI Level 1 compliant payment service to ensure that all financial data is secure.
Q. Will there be a prize pool for participating nonprofits?
Yes! The WyoGives Team is working on developing a prize pool for participating nonprofits. We are defining a structure that will reward nonprofits at a variety of budget levels for creativity, engagement, and other criteria. More information will be provided as sponsors are secured.
Q. What is the deadline to ensure my organization participates?
The deadline to register and have guaranteed inclusion in WyoGives 2020 is May 15, 2020.
Q. What is state charitable solicitation registration?
Nonprofits are held to a high standard of government regulation and public scrutiny. And that is with good reason! Eligible 501(c) nonprofits are exempt from federal corporate taxes and have access to public funding. These benefits are not typically available to for-profit businesses, so laws are in place to protect the public and ensure nonprofits do not abuse their financial advantages. The IRS and states all have requirements for nonprofits.
Q. Why is nonprofit compliance important?
While 501(c) nonprofits receive key financial benefits, the penalties for noncompliance can be serious. The IRS can revoke a nonprofit’s tax exemption and impose fines that can accrue daily. The states can administratively dissolve a nonprofit corporation and levy steep financial penalties. Perhaps worst of all, an organization can lose out on a grant or large donation because it has not kept itself in good standing.
Taking a proactive approach to compliance helps ensure the sustained success of the organization. The cost of staying compliant is small in comparison to the much larger costs of noncompliance. The saying, “an ounce of prevention is worth a pound of cure” could not be more true in this context.
Q. What are the key aspects of nonprofit compliance?
The IRS provides tax exemptions to eligible nonprofits under IRC 501(c). Public charities and private foundations receive 501(c)(3) tax exemption. The IRS scrutinizes organizations when they apply for 501(c)(3) but also ensures that those organizations meet the ongoing obligations to remain eligible. Nonprofits must file a 990 tax form each year with the IRS to disclose their financial data for the year.
Each state has their own set of requirements. Nonprofits are typically incorporated in a given state as a nonprofit corporation. The state in which the nonprofit has incorporated will impose requirements on the nonprofit, and those responsibilities typically span across multiple state agencies. Usually nonprofits must submit an annual filing to the corporations division of the secretary of state, maintain its license to fundraise (charitable solicitation registration), file for a state business license, and maintain state-level tax exemption with the revenue department. As nonprofits expand outside of the state or operate nationwide, they must comply with the same items in each other state as well.
NOTE: Wyoming is one of handful of states that does not require charitable solicitation registration
In addition to IRS and state filing requirements, nonprofits must keep adequate records. Keeping accurate and complete records is critical in the event that an organization is audited. It is also common that board members or donors request information from the organization. Finally, records are necessary for submitting applications and renewal filings with various government agencies.
Q. When I check the box on GiveGab to declare state charitable solicitation registration compliance, what am I attesting to?
When you check the box you are attesting (defined as "declaring that something exists or is the case") that your organization is compliant with applicable state fundraising requirements in the states in which you may solicit donors using the GiveGab platform.
Q. Do you have additional resources to reference about state charitable solicitation registration?
Yes! The Wyoming Nonprofit Network is a partner with Harbor Compliance. Here are a few more resources from Harbor Compliance to help you:
- Guide and Overview of Many Nonprofit State by State Compliance Requirements
- Guide and Overview Specific to Fundraising Compliance
- National Council of Nonprofits and Harbor Compliance have partnered to create a white paper explaining the state charitable solicitation registration requirements.
- A Quick Summary of Charitable Solicitation in Graphic Form
- Executive Brief: Charitable Solicitation Registration (great for driving awareness and support with leadership and the board)
- State by State Links to the State Organizations that Regulate Charities, Solicitation, and Registrations
For additional information, you can contact Harbor Compliance utilizing Wyoming Nonprofit Network's assigned page.
Q. How can our organization be most successful with the WyoGives event?
No matter the size or shape of your organization, we've got tools to help you succeed! On the WyoGives website there is a Nonprofit Toolkit full of resources, including training videos, guides, graphics and templates.