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# 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 \~1.4M 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.

> **Info**
>
> Chariot is a financial technology company, not a bank. Chariot Accounts come with a Demand Deposit Account through our banking services partner, Column N.A., Member FDIC. Deposits in Chariot Accounts are eligible for FDIC insurance up to \$250,000 per depositor, for each insurable capacity in which the account is held.