FAQ
Q. What is Ithaca College Giving Day?
Ithaca College Giving Day is a day to celebrate the IC Student Experience, and give back in support of IC and your favorite Schools, Programs, and teams. Ithaca College Giving Day is an initiative of Ithaca College.
Q. When is Ithaca College Giving Day?
Ithaca College Giving Day is on April 18th, 2024 from midnight to 11:59 PM.
Q. Who can donate?
Anyone may donate. Donations through the Ithaca College Giving Day online portal to charitable nonprofit organizations are tax-deductible and cannot be refunded. Contributions may be made via credit and debit card only. Donations will be processed and receipted by GiveGab/Bonterra.
Q. What is GiveGab/Bonterra?
GiveGab, which is becoming Bonterra, is a nonprofit giving platform that helps nonprofits to raise money, engage donors and manage volunteers quickly and efficiently. GiveGab/Bonterra offers a full portfolio of simple and easy to use products that allows organizations to function in a more streamlined manner.
Q. How will donations be distributed?
Each donation made to a participating nonprofit will be disbursed directly from GiveGab/Bonterra via direct deposit within 5-7 business days.
Q. How much of my donation goes to the nonprofit?
Give Gab/Bonterra does not take any percentage of your gift. Credit Card processing fees are an additional 2.5% + $0.30 for all major credit cards (Visa, MasterCard, American Express, and Discover). You are given the option to cover the fees and if you choose this option, 100% of your online charitable gift will go to the receiving organization. All donations are final and cannot be refunded. Any donations processed outside of the Ithaca College Giving Day donation period through GiveGab.com, or subsequent recurring donations, are also subject to the transaction fees outlined above.
Q. Who will receive my contact information?
The organization(s) you choose to support will have access to your name and email address. This information is used solely to send thank you messages, provide the option to receive future notifications, and to notify you of future activities.
Q. Do I need to create an account to make a donation?
No. You do not need to create an account to make a donation. The benefits of creating an account include having your tax receipts collected in one location, being able to track your donations, follow the charities you support, and engage in future volunteering and donations. Your tax receipt is emailed immediately upon processing your donation. To claim a donation as a deduction on U.S. taxes, you should retain the donation receipt as an official record.
Q. Can I make donations via a mobile device?
Yes! Simply visit givingday.ithaca.edu on your mobile device.
Q. Can I pre-schedule a donation for Ithaca College Giving Day?
You cannot pre-schedule your Ithaca College Giving Day gift, but you may make a donation to a participating nonprofit before or after the Ithaca College Giving Day. In order for your donation to be counted towards prize incentives awarded on Ithaca College Giving Day it must be made between midnight at 11:59 p.m. on April 18th, 2024.
Q. What if my preferred organization is not listed?
Select the "Other" Option for your school or division and write in the program you wish to support
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 state charitable solicitation registration 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 state charitable solicitation registration 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.
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.
If your organization supplies the wrong type of bank account (such as a savings account), or the wrong account numbers, GiveGab/Bonterra will be in touch! After 30 days, if GiveGab/Bonterra hasn't heard from your organization, they will refund your gifts back to your donors.