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There’s a huge problem with the way nonprofits get money today.
Thousands of Payers (Donor Advised Funds, Foundations, etc.) are repeating the same steps, every year, for 1.5 million nonprofits, using disparate tools and services.
This results in billions of extra costs, countless hours of wasted time for Payers and nonprofits, plus a troubling amount of lost or delayed payments for critical causes.
Why does this happen?
Payers need to pay nonprofits they don’t have up-to-date relationships with, every day. This kicks off a cumbersome process that’s been impossible to manage efficiently at scale. For each payment, every Payer has 3 questions they need to answer - or decide to ignore:
Can I pay this organization?
Nonprofit review & validation.
Where do I send the money?
Verify physical mailing address or electronic bank details.
How do I send grant details?
Grant letter, nonprofit portal, email or something else.
And things are only getting more difficult…
1
Increased Volume
DAF donors have grown 10x in the past 10 years.
2
Increased Risk
Fraud is increasingly prominent across both mail and digital payments.
3
Bad Options
If you outsource your disbursements, solutions are usually burdensome, costly, and don’t meet your full suite of needs.
“Chariot Disbursements is a tremendous organizational improvement for community foundations of all sizes around the country, especially while we’re all working hard to keep our DAF offerings competitive and cost-effective."
Megan Hyman
CEO, Dallas Jewish Community Foundation
Enter the first end-to-end disbursement solution
Chariot Disbursements is custom-built for the nonprofit sector with adaptable technology you can plug in anywhere.
Validation
Bank-grade KYC & KYB review for every nonprofit on Chariot.
Leading database of extensive nonprofit details.
Payment
Send electronic push payments to nonprofits on Chariot.
Send physical checks to nonprofits not yet registered on Chariot in the same system.
Tracking
User-friendly system for payment initiation and monitoring.
Nonprofits get immediate notice of payment in a central portal across Payers.
Without Chariot
$
Each Payer repeats diligence checks on each nonprofit. Checking multiple databases, gathering documents and having many 1x1 interactions.
Each Payer manages a system of grantees, trying to keep bank account details up-to-date while still sending checks in the mail as a fallback.
Each Payer decides how and what information to share with grantees, creating a host of challenges for nonprofits tracking these gifts.
With Chariot
$$$
Nonprofits and their officers are centrally vetted, so every Payer can rely on the most thorough diligence.
There’s an easy interface for every Payer to manage payments, no more headaches from mailing checks or maintaining nonprofit bank details.
Nonprofits can all use one central portal across Payers to receive money and grant details uniformly. Money is sent faster and significant processing time is saved on both ends.
“Chariot Disbursements is exactly the collaborative approach our sector needs to solve these big problems”
Adam Nash
CEO, Daffy
Built on three central innovations
Compliance
Chariot partners with Column N.A. to provision a Chariot Deposit Account* to nonprofits on Chariot.
Our validation and verification process gives you more detail and confidence in every payment.
Data
Our solution is accessible with modern APIs or an out-of-the-box dashboard.
The most reliable nonprofit data and transaction details are at your fingertips.
Efficiency
Chariot’s unique position in the market means we can offer lower costs per payment.
Each new nonprofit on Chariot lowers those costs further and accelerates payment.
With Chariot, nonprofit disbursements can be...
Managed easily, by anyone
Handled securely, with confidence
Sent rapidly, like your donors want
Done cheaply, to maximize impact
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