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Last Updated: December 4, 2024

Impactfully is a purpose-built, end-to-end solution for both grant management and foundation administration for Foundations.

Foundation will be receiving either the Essential Services or the Inclusive Services described below, as determined by Company.

 

I. ESSENTIAL SERVICES

COMPREHENSIVE GRANT PROCESS

  • Several grant level and payment level tracking options​
  • Single, Recurring and Multi-payment options

CHARITY SEARCH

  • Search IRS Tax-Exempt Organization ​ database for eligible charities​
  • Access (via a link) to GuideStar and Charity Navigator publicly available home pages

FOUNDATION-LEVEL DASHBOARD

  • Short cuts
  • Global search of grants and charities
  • Fully customizable​
  • MDR, ToDos, Favorite Reports, Grantor Tiles
  • Quick view of approvals and votes needed

MDR TRACKING

  • Track MDR status throughout the year​
  • Ability to manually upload MDR
  • Ability to select ‘Estimated’ if MDR is not yet final

EXPENSE MANAGEMENT

  • Enter expenses and track qualifying expenses against MDR requirement​

CONTACT MANAGEMENT

  • Store contact details for all your charities​
  • Easy access to contact information for grantees and other parties affiliated with Foundation (“Foundation Members,” i.e., Foundation officers, directors, trustees, employees, representatives, service providers, etc.)

IMPACT PLANNING

  • Collaborate with Authorized Users to create Impact Plans for selected causes
  • Track grants against selected causes

ENTITLEMENTS

  • Extensive user-based permissions​ for Authorized Users

GRANT APPLICATIONS & OUTCOMES

  • Organize, track, and manage grant applications​
  • Eligibility quiz helps filter out non-relevant applicants​
  • Create end-to-end application processes
    • Welcome Page
    • Eligibility Quiz
    • Application Forms
    • Supporting Forms (Letter of Intent, Ask for Information)
    • Correspondence
    • Monitor the impact of grants with Outcomes​
    • Create Outcome Forms

GIVING HUB (GRANTEE PORTAL)

  • A portal specifically for applicants
  • This portal is used by all applicants to any foundation that is a user of Foundation Source’s Impactfully (i.e., not just Foundation)
  • Submit and track applications and outcome
  • Organizations need only one account for all their applications in Giving Hub

TO DOS

  • Create action items and reminders for all Authorized Users
  • Assign a To Do to an Authorized User

HISTORICAL GRANT IMPORT

  • Easily import grant history with Foundation Source’s provided template

DOCUMENT MANAGEMENT

  • Central repository for foundation documents
  • Archive meeting minutes, board books, grant
    documentation, tax filings and more

REPORTING

  • Company has specified specific reports to view
  • Suite of standard, real-time reports
  • Scheduling for regular management reports
  • Dynamic reporting feature

COMMITTEE MANAGEMENT

  • Create committees to vote on grants, applications and expenses

FOUNDATION ADMINISTRATION

  • Authorized Users & Permissions
  • Foundation Details
  • Report codes
  • Committees
  • Authorized User limits

ENTERPRISE-LEVEL DASHBOARD

  • Aggregated reporting across foundations
  • Direct Access into Impactfully for a single foundation, the grant management and foundation administration platform
  • Data Visualization*
  • Custom views based on Authorized User permissions; based on settings for role and foundations assigned to such Authorized User*

ENTERPRISE CONSOLE

  • Add/Remove Authorized Users who are Company Personnel*
  • Assign permissions to Authorized User Roles*
  • Add new or edit -permissions*
  • Create Teams of Company Authorized Users*
  • Assign Authorized Users with permissions with respect to foundations*
  • Batch Actions in Impactfully*

*These features will be made available in 2025.

 

ESSENTIAL PROFESSIONAL SERVICES

A. Charity ResearchFoundation Source maintains a database of organizations recognized by the IRS as exempt from tax under Section 501(c)(3), and which provides each such entity’s tax status classification.  Foundation Source updates its database after changes are made by the IRS to its database or charitable organizations.  Foundation Source cannot be held liable for grants to charities the status of which has changed but has not yet been reflected in the Foundation Source For certain domestic organizations that may not be included in the database, Foundation Source will request and review information submitted by the proposed grant recipient to confirm whether that information appears to satisfy IRS rules for grants to such domestic organizations.  Impactfully provides a Charity Research form to submit for research and review by the Foundation Source and the ability to track the status of the research case.  Any questions that arise regarding Charity Research will be addressed to the Company and not Foundation.

B. Review of Supporting Organizations Type Classification.  For supporting organizations that have not been issued a “type” designation by the IRS (Type I, II, III functionally integrated, or III non-functionally integrated), Foundation Source will request and review opinion letters of counsel for the proposed grant recipient to confirm whether the opinion letter and any requested supporting information appears to satisfy IRS rules for grants to such organizations.  Impactfully provides a Charity Research form to submit for review by Foundation Source and the ability to track the status of the research case.

C. Foundation Source Client Advisor. Foundation Source will assign a Private Client Advisor to Company to provide support to all Authorized Users who are Company Personnel Monday through Friday except for federal holidays from 900 to 1700 Eastern (“Business Days”) to (a) respond to questions regarding Impactfully; (b) monitor qualifying distributions; (c) review and process expenses; (d) review grants and grant letters for compliance with IRS regulations; and (e) send grant letters to their corresponding grantees.

D. Foundation Source Administration.

(i) Disbursements. Foundation Source will make disbursements on Foundation’s behalf, including but not limited to (a) grants for charitable purposes in accordance with instructions from Authorized Users without regard to whether the instructions may conflict with Foundation’s Operating Policies, governing documents, or any restrictions on Foundation’s use of its assets; (b) any tax liability of Foundation to the IRS or any other government authority, including estimated taxes, as instructed by Company Personnel; and (c) those reasonable and necessary expenses of Foundation, as instructed by an Authorized User, and Foundation Source will be entitled to act without separate inquiry upon an Authorized User’s instructions (each such disbursement, an “Authorized Disbursement”).

(ii) Grant and Expense Tracking and Reporting. With respect to Foundation, Foundation Source will track and report expense and granting activity and make such information available to Company on Impactfully.  Impactfully will track the MDR, provided that the actual or estimated MDR for Foundation shall be entered on Impactfully by Authorized Users who are Company Personnel and Foundation Source shall be entitled to rely upon such actual or estimated MDR.

(iii) Foundation Source will screen grantees against a consolidated watch list of known or suspected criminal or terrorist organizations and individuals, including OFAC’s specially designated nationals and blocked persons list.

 

II. INCLUSIVE SERVICES

COMPREHENSIVE GRANT PROCESS

  • Several grant level and payment level tracking options​
  • Single, Recurring and Multi-payment options
  • Grants processed and reviewed by a team of compliance experts

GRANT CERTIFICATES

  • Provide the gift of granting with a grant certificate
  • Certificates have an amount and can be used at the awardee’s discretion

HARDSHIP AND EMERGENCY APPLICATIONS

  • Give grants to individuals or families in times of need
  • Access to streamlined applications designed to comply with IRS requirements

CHARITY SEARCH

  • Search IRS Tax-Exempt Organization ​ database for eligible charities​
  • Access (via a link) to GuideStar and Charity Navigator publicly available home pages
  • Submit charity research case for unverified charities

FOUNDATION-LEVEL DASHBOARD

  • Short cuts
  • Global search of grants and charities
  • Fully customizable​
  • MDR, ToDos, Favorite Reports, Grantor Tiles
  • Quick view of approvals and votes needed

TAX CENTER

  • Online review of Client returns prepared by dedicated accounting team
  • Online annual tax questionnaire for each Client
  • Alerts regarding upcoming tax deadlines
  • Easy document upload

MDR TRACKING

  • Track MDR status throughout the year​
  • Estimated MDR displayed until actual MDR finalized

EXPENSE MANAGEMENT

  • Enter expenses and track qualifying expenses against MDR requirement​
  • Expenses processed and reviewed by a team of compliance experts

CONTACT MANAGEMENT

  • Store contact details for all your charities​
  • Easy access to contact information for grantees and other parties affiliated with Foundation (“Foundation Members,” i.e., Foundation officers, directors, trustees, employees, representatives, service providers, etc.)

FINANCIAL MANAGEMENT

  • View and track cash balance and assets
  • Gauge the impact of scheduled grants on asset balances
  • View funding history

IMPACT PLANNING

  • Collaborate with Authorized Users to create Impact Plans for selected causes
  • Track grants against selected causes

ENTITLEMENTS

  • Extensive user-based permissions​ for Authorized Users

GRANT APPLICATIONS & OUTCOMES

  • Organize, track, and manage grant applications​
  • Eligibility quiz helps filter out non-relevant applicants​
  • Create end-to-end application processes
    • Welcome Page
    • Eligibility Quiz
    • Application Forms
    • Supporting Forms (Letter of Intent, Ask for Information)
    • Correspondence
    • Monitor the impact of grants with Outcomes​
    • Create Outcome Forms

GIVING HUB (GRANTEE PORTAL)

  • A portal specifically for applicants
  • This portal is used by all applicants to any foundation that is a user of Foundation Source’s Impactfully (i.e., not just Foundation)
  • Submit and track applications and outcome
  • Organizations need only one account for all their applications in Giving Hub

TO DOS

  • Create action items and reminders for all Authorized Users
  • Assign a To Do to an Authorized User

HISTORICAL GRANT IMPORT

  • Easily import grant history with Foundation Source’s provided template

DOCUMENT MANAGEMENT

  • Central repository for foundation documents
  • Archive meeting minutes, board books, grant
    documentation, tax filings and more

REPORTING

  • Company has specified specific reports to view
  • Suite of standard, real-time reports
  • Scheduling for regular management reports
  • Dynamic reporting feature

COMMITTEE MANAGEMENT

  • Create committees to vote on grants, applications and expenses

FOUNDATION ADMINISTRATION

  • Authorized Users & Permissions
  • Foundation Details
  • Report codes
  • Committees
  • Authorized User limits

ENTERPRISE-LEVEL DASHBOARD

  • Aggregated reporting across foundations
  • Direct Access into Impactfully for a single foundation, the grant management and foundation administration platform
  • Data Visualization*
  • Custom views based on Authorized User permissions; based on settings for role and foundations assigned to such Authorized User*

ENTERPRISE CONSOLE

  • Add/Remove Authorized Users who are Company Personnel*
  • Assign permissions to Authorized User Roles*
  • Add new or edit -permissions*
  • Create Teams of Company Authorized Users*
  • Assign Authorized Users with permissions with respect to foundations*
  • Batch Actions in Impactfully*

*These features will be made available in 2025.

 

INCLUSIVE PROFESSIONAL SERVICES

A. Client Foundation Source Client Advisor. Foundation Source will assign a Private Client Advisor to Company Monday through Friday, except for federal holidays, from 900 to 1700 Eastern (“Business Days”) to (a) respond to questions regarding Impactfully; (b) monitor qualifying distributions; (c) review and process expenses; (d) review grants and grant letters for compliance with IRS regulations; (e) send grant letters to their corresponding grantees; (f) manage schedules for state and federal filings; (g) provide orientation and technology support for Authorized Users of Company and other Authorized Users as instructed by Company; and (h) accept correspondence on behalf of the Foundation as instructed by Company. Foundation Source and Company acknowledge that Clients and Foundation Source may need to communicate directly in connection with the Tax Services, as defined in Section 2 below.

B. Philanthropic Advisory Services. Foundation Source will provide access to philanthropic advisory services, tools, and resources in the areas of governance, mission, and grantmaking and programmatic strategy. Additionally, Foundation Source will upload investment balances, upload unlimited historic grant activity into the Foundation Source database if such information is provided in a format acceptable to Foundation Source.

C. Charity Research. Foundation Source maintains a database of organizations recognized by the IRS as exempt from tax under Code Section 501(c)(3), and which provides each such entity’s tax status classification. Foundation Source updates its database after changes are made by the IRS to the IRS Business Master File Extract of Exempt Organizations.  Foundation Source cannot be held liable for grants to charities the status of which has changed but has not yet been reflected in the Foundation Source database. For certain domestic organizations that may not be included in the database, Foundation Source will request and review information submitted by the proposed grant recipient to confirm whether that information appears to satisfy IRS rules for grants to such domestic organizations.  Impactfully provides a Charity Research form to submit for research and review by the Foundation Source and the ability to track the status of the research case.  Any questions that arise regarding Charity Research will be addressed to Company and not the Client.

D. Review of Supporting Organizations Type Classification. For Code Section 509(a)(3) supporting organizations that have not been issued a “type” classification by the IRS (Type I, II, III functionally integrated, or III non-functionally integrated), Foundation Source will request and review opinion letters of counsel for the proposed grant recipient to confirm whether the opinion letter and any requested supporting information appears to satisfy IRS rules for grants to such organizations.  Impactfully provides a Charity Research form to submit for review by Foundation Source and the ability to track the status of the research case.

E. Foundation Source Administration.

(i)  Disbursements.  Foundation Source will make disbursements on each Client’s behalf, including but not limited to (a) grants for charitable purposes in accordance with instructions from Authorized Users without regard to whether the instructions may conflict with the Client’s Operating Policies, governing documents, or any restrictions on the Client’s use of its assets; (b) any tax liability of the Client to the IRS or any other government authority, including estimated taxes, as instructed by Company Personnel; and (c) those reasonable and necessary expenses of the Client, as instructed by an Authorized User, and Foundation Source will be entitled to act without separate inquiry upon an Authorized User’s instructions (each such disbursement, an “Authorized Disbursement”).

(ii)  Grant and Expense Tracking and Reporting.  With respect to each Client, Foundation Source will track and report expense and granting activity and make such information available to Company on Impactfully.  Impactfully will track satisfaction of a Client’s MDR for the current year, as calculated on its prior year IRS Form 990-PF. Notwithstanding the foregoing, Foundation Source shall not be responsible for calculating the amount of a Client’s actual or estimated MDR for any Client tax year where Foundation Source did not prepare such Client’s prior year IRS Form 990-PF. For any Client’s actual or estimated MDR that Foundation Source is not responsible for calculating under this Section, Foundation Source shall be entitled to rely upon any MDR for such Client that has been entered on Impactfully by any Authorized User or that Foundation Source has been instructed by Company or the Client to enter on Impactfully.

(iii)  Screening.  Foundation Source will screen grantees against a consolidated watch list of known or suspected criminal or terrorist organizations and individuals, including OFAC’s specially designated nationals and blocked persons list.