Bonfire makes it easy for nonprofits to receive their proceeds safely, securely, and compliantly with the help of GetChange Corp ("Change").
As Commercial Co-Venture (CCV) laws are developing and evolving across the US, we are simplifying the fundraising process for eligible nonprofits by partnering with Change. Change allows Bonfire and the organizations who partner with us to maintain compliance – today and into the future.
Eligible nonprofits can opt to receive payments via Change. Read more about this process below.
What is Change?
What is Change?
Bonfire uses GetChange Corp ("Change") as the third-party service provider for donation processing. Donations made via Change's platform are to Our Change Foundation ("OCF"), a 501(c)(3) nonprofit organization (EIN: 86-3353394) that distributes grants to the nonprofit selected as the beneficiary of the Bonfire Campaign. Your Bonfire payouts will be sent as “Grants” from Change.
How will my nonprofit receive payments from Our Change Foundation?
How will my nonprofit receive payments from Our Change Foundation?
Payments from Our Change Foundation ("OCF") are made as grants from OCF to your nonprofit. You can register with GetChange Corp (“Change”) at any time to set up your preferred payment method and track your payouts.
If you do not register with Change, you will receive a mailed letter to your organization's address* when new payouts are available. To collect these, you must either (a) register with GetChange Corp, where you can set up direct deposit (ACH), or (b) contact their support team at support@getchange.io to request your payouts be sent via mailed check. This checkpoint is necessary to prevent payouts from getting lost.
Once you have set up with Change, you will no longer need to request individual payouts through your Bonfire Dashboard. Proceeds will automatically be sent to your organization at a set cadence. You can set the cadence of Change payouts by registering with Change.
*Letters from Change will be sent to the address on file with Our Change Foundation. To learn more or update your organization's mailing address, please register with GetChange Corp.
Are there fees associated with Our Change Foundation or Change?
Are there fees associated with Our Change Foundation or Change?
There are no fees for our customers and nonprofits for receiving grants from OCF. Bonfire covers the platform fees that Change charges related to claiming the donations.
How can I update my Change payout method?
How can I update my Change payout method?
Change makes payments to nonprofits mainly through ACH bank transfers. To set up ACH transfers, you'll need to register with Change first. While Change prefers using bank transfers for improved security and faster processing, they can also assist with alternative payment methods like paper checks. Please contact their support team at support@getchange.io. Once registered, you can track your grant, update your preferred payout cadence, and complete your nonprofit profile.
How long does it take for a payout from Change to get to the nonprofit?
How long does it take for a payout from Change to get to the nonprofit?
Donations sent to Our Change Foundation (“OCF”) are processed weekly. Benefiting nonprofits will typically receive their grants from OCF within 30 days. Organizations can set a payout cadence on Change, which could extend the timeline.
In rare cases, OCF is not able to grant a donation to the selected nonprofit. If OCF is unable to grant a donation to the chosen nonprofit, Bonfire will work with the seller to recommend a different nonprofit organization with a similar mission. If the seller doesn’t respond, Bonfire will recommend a similar nonprofit to OCF.
To determine if a specific payout has been received by a nonprofit, please contact the Change Support Team at support@getchange.io.
Does my payout have to go through Our Change Foundation?
Does my payout have to go through Our Change Foundation?
All proceeds from Giving Campaigns must be paid out to nonprofits through Change. Nonprofits that fundraise directly on Bonfire may continue to receive their funds directly from Bonfire; however, nonprofits will need to receive payouts through Change in order to utilize all of Bonfire’s nonprofit perks, such as the ability to receive additional donations at checkout.
Why did my nonprofit receive a grant from Our Change Foundation?
Why did my nonprofit receive a grant from Our Change Foundation?
CCV laws are state-based and subject to frequent changes. To best maintain compliance with these laws, Bonfire is working with Our Change Foundation (“OCF”) to simplify compliance for us and the nonprofit organizations that receive funds from Bonfire fundraising campaigns.
Because Bonfire’s platform allows individuals to raise funds for thousands of different nonprofit organizations, keeping up with contracts and reporting for all of the nonprofits would be nearly impossible. By sending all payouts to Our Change Foundation, the contract, registration, and reporting requirements are only applicable to Bonfire and OCF, not your nonprofit. Your nonprofit receives a grant from Our Change Foundation, a straightforward process that helps avoid the complex legal requirements associated with CCV.
What is CCV?
What is CCV?
CCV stands for Commercial Co-Venture. CCV is a legal term used by the US government that describes a contract between a nonprofit organization and a for-profit company created to support charitable causes. The for-profit partner in this relationship is called a commercial co-venturer. Laws across the US regarding nonprofit fundraising are constantly evolving to keep pace with industry and market changes. When individuals use Bonfire to raise funds for a nonprofit through a giving campaign, this is considered a commercial co-venture under current legislation. By partnering with Change, nonprofit organizations can enjoy the benefits of peer-to-peer fundraising with Bonfire while staying compliant with state regulations.
How can I contact Change?
How can I contact Change?
If you would like information about your organization, you can contact the Change Support Team at support@getchange.io.
If you have questions, our Customer Support team is eager to help. Send us a message on our contact page!