Overview

This section provides an introduction to Chariot Disbursements including the problem it attempts to solve, the concepts involved, and how it works.

The Problem

There are ~1.8M nonprofits in the US today that don’t have an easy or open method to accept payments securely and reliably via any open-network electronic payment method.

The IRS maintains a list of most tax-exempt organizations’ physical addresses. This database doesn’t include many religious organizations, addresses are notoriously inaccurate, and the best you can do is to mail a paper check and hope for the best.

Grantmakers aim to distribute funds to nonprofits in a secure, electronic, and cost-efficient manner. However, current practices require each grantmaker to independently establish and manage a system for registering electronic payment information, presenting both technical and operational challenges.

Today, these systems are a huge cost-center and resource drain for grantmakers to maintain compliance and up-to-date information on all nonprofits within their systems.

Grantmakers must revert to issuing checks when nonprofits are not present in their system. Compounding the issue is the fact that every grantmaker is redundantly undertaking the same laborious technical and operational tasks.

From the perspective of nonprofits, they are required to register with over 50 grantmaker portals to receive electronic payments. This process involves managing numerous portals and logins, making the task of reconciling payments with their respective data exceedingly cumbersome.

A New Approach

What if you could?

• pay any eligible nonprofit organization
• instantly
• via the preferred payment rail
• without needing to maintain a database
• have fraud, compliance, and verification checks out of the box
• attach data or documents to the payment that the nonprofit receives

That’s what Chariot Disbursements does.