Giving Compass' Take:
- Afdhel Aziz highlights a nonprofit platform called GVNG which allows people to easily create their own foundation that supports a specific cause.
- Could this platform advance your work? As technology advances, what other innovative giving platforms will be created?
- Learn how social media and non-profit platforms are redefining disaster relief.
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One of the most revolutionary platforms in the social impact space today is GVNG, a technology company that allows anyone to create a non-profit platform in under 60 seconds. GVNG has helped everyone from celebrities from Miley Cyrus who started a foundation after the fires in Malibu to Val Kilmer who started his Twain Mania foundation, to everyday people who are inspired to help after natural disasters, tragedies, and want to support their communities and promote a cause they are passionate about. I caught up with the Founder of GVNG and Chief Philanthropy Officer Dominic Kalms, and the Chief Executive Officer Shabab Gruberg to find out more.
Kalms talked about the frustrations that he noticed in the non-profit space that led to him create GVNG. “The core problem we were trying to solve is how to reduce the complexity around three metrics: labor, costs, and time when creating a nonprofit. The average cost to set up a non-profit is around $20,000 plus, all in with legal costs, insurance, website etc. The average time is about six months, and average labor is hundreds of documents that need to be filed at the federal and state levels to be compliant across the US. It's quite intense. So what we did is we created a proprietary technology vehicle and a legal vehicle and we got it approved by the IRS and approved in all states, which essentially allows anybody with a legitimate charitable mission or cause to operate with 501(c)3 status.
Read the full article about nonprofit platforms by Afdhel Aziz at Forbes.