Are my micro-philanthropy donations tax-deductible?
Yes! All of your Gen E philanthropy from Micro to Spot Donations are fully tax-deductible. For your records, you’ll receive a donation tax receipt for every monthly donation and each Spot Donation you make, all of which are also stored in the app. In addition, we’ll provide you with an annual year-end statement, compiling all the info you need for tax preparations.
When will I be charged for my automatic micro-philanthropy?
On the 5th day of every month we’ll automatically charge your Funding Source with your total micro-philanthropy from the previous month. This total includes all your micro-philanthropy pledges that were tied to purchases, plus any Spot Impacts or Boosts you may have added to your monthly tab.
We operate on monthly cycles to keep the process streamlined and efficient for you, our grantmaking partner, the nonprofits, and us.
What are Spot Donations and when are they charged?
Spot Donations allow you to proactively send a donation to the nonprofit of your choice. Your Funding Source will be charged instantly. Basically, if you want to send support to an individual org above and beyond your monthly micro-philanthropy and want to do it now – Spot Donations are the answer. Since Spot Donations are charged right away, you can’t edit them and they will not appear in your monthly charge on the 5th day of every month.
Funding Source vs Purchase Tracker Further Explained.
Adding a Funding Source and linking a Purchase Tracker are two distinct steps you take to get your frictionless micro-philanthropy up and running. Each serves a unique purpose and we partner with different industry leaders (Stripe & Plaid) for each step in order to provide you with our seamless and secure service.
Your Funding Source is the card that will be charged once a month with your total micro-philanthropy. And if you make any Spot Donations, your Funding Source will be charged instantly.
Purchases made on your linked Purchase Tracker are used to calculate your micro-philanthropy per purchase. We recommend you choose the card where you make everyday purchases since these are the transactions that are triggering climate action. For example, if you’re rounding up the change and you buy a coffee for $2.75, then this transaction triggers a pledge of $0.25 for the planet.
You’ll link your Purchase Tracker account to Gen E by logging in via Plaid with your online credentials to establish the connection. It should only take a minute or two. Then, expect to start seeing your purchases pull into your app along with their associated micro-philanthropy pledges.
Tip: Yes, you can use the same card for both your Funding Source and Purchase Tracker. Or use different ones – whatever’s best for you. Either way, it’s a two step setup, but you do it once and then you’re ready to save the planet.
Can I edit the micro-philanthropy pledge on an individual purchase?
Absolutely! Every purchase you make on your linked Purchase Tracker will show up in your private Transactions feed. To edit the pledge amount, just tap on the individual transaction, and you’ll be able to customize or even waive your micro-philanthropy tied to that specific purchase. You can edit any transaction made during the current monthly cycle, prior to the 5th day of the following month.
Can I edit Boosts or Spot Impacts that I’ve added to my monthly portfolio?
Yes, in your Actions feed you can remove a Boost or Spot Impact made during the current month by swiping left on the post and clicking on the ‘x’ to cancel.
When will I see my purchases post in my Gen E Transactions feed?
It may take a few business days for new transactions to post in your Gen E app. This is because when you initially make a purchase, it is labeled as “pending”, and depending on your bank or credit card company it takes a few days for the transaction to be fully processed. At this point it changes from “pending” to “posted”, meaning the details of the transaction are final. Gen E pulls in your transactions when they are “posted” in your linked account.
Is there a monthly minimum for the automated micro-philanthropy payments?
No, with one caveat. If your micro-philanthropy total is less than $1 at the end of a monthly cycle, it will be rounded up to $1. Online transaction fees are just too high on very small amounts, which is one reason why we operate on a monthly cycle – it’s more efficient, and allows more to go to the nonprofits.
If you’re consistently trending less than $1 per month, we encourage you to be more proactive with your Environmental Portfolio. And there are many ways to do it. You can increase your Laws of Nature: Micro setting, Boost your micro-philanthropy with a lump dollar sum, or add quantifiable Spot Impacts, like planting trees. Also ensure your chosen Purchase Tracker is tied to a card that you make regular purchases on. Any of these options should do the trick!
What’s the Philanthro-fee amount that will be retained from my donation?
For monthly charges over $7, we retain 8% in Philanthro-fees to cover our operating costs. We say we retain 8% on average, because that applies to the large majority of charges. For smaller payments, the fees take up a larger share of the total, and we retain the fee that covers our costs. See the below schedule of fees for the breakdown.
|Philanthropy $ Amount||Philanthro-fees|
|$7.01 and above||8%|
|$1.00 – $7.00||up to $0.67|
What about credit card fees?
Did you know that all online transactions incur payment processing fees? Yup, even donations – it’s a fact of the internet. So our payment processor deducts this standard fee at the nonprofit rate of 2.2% + $.30 from all charges instantly.
How will my Gen E philanthropy charges appear on my credit card statement?
The charge to your card will show as GEN E – CAF AMERICA. Because your donations are donations to our 501(c)(3) tax-exempt partner, CAF America, which makes grants to your designated nonprofit beneficiaries, you’ll see their name along with ours on your statement. You’ll receive the tax receipt by email and in-app from Gen E on behalf of CAF America.
What if I need to stop my monthly micro-philanthropy?
To stop purchase-driven micro-philanthropy pledges and the associated monthly donation, just remove your Purchase Tracker from your account, found in your Profile > Linked Accounts. Once removed, you’ll no longer see any new transactions in your feed, and you won’t be able to add Boosts or Spot Impacts to your portfolio. Automatic monthly philanthropy donations will be stopped after the close of the current month.
If you had any micro-philanthropy pledges, Spot Impacts, or Boosts added to your portfolio during the monthly cycle prior to removing your Purchase Tracker, your Funding Source will be charged with the final philanthropy amount.
You can still make Spot Donations any time as long as you keep your Funding Source added. And to restart automatic micro-philanthropy, just link a Purchase Tracker again.
Questions about your account?
Contact us at email@example.com.