TRUiST and Charities Aid Foundation of America Announce Strategic Partnership
TRUiST, Inc. and Charities Aid Foundation of America (CAF America) have announced a partnership that will expand CAF America’s offerings to include an employee giving component and will enhance TRUiST’s ability to disburse donations to an international network of charities.
This partnership comes on the heels of TRUiST’s acquisition by FrontStream Holdings, LLC (dba FrontStream Payments). In addition to the 20,000 nonprofit clients that made up FrontStream’s portfolio, the TRUiST acquisition added an employee engagement and workplace giving component consisting of corporate clients who are disbursing an average of $230 million to nonprofit organizations on an annual basis. The partnership with CAF America now gives those corporations the ability to run workplace giving campaigns that will benefit an additional 181,000+ charitable organizations that reside outside of the United States and Canada.
CAF America is a member of the Global Alliance of the Charities Aid Foundation which spans six continents and manages over $4 billion in charitable funds. By leveraging the depth and breadth of the expertise that exists across all chapters of the Alliance, CAF America creates dynamic opportunities for donors of all types to make a global impact through their charitable giving efforts.
“The partnership represents a major milestone for the philanthropic community throughout the country. Current trends indicate that the time is right to facilitate effective workplace giving campaigns that have an international scope,” said Ted Hart, CEO of CAF America. “With the introduction of this joint service, companies are empowered to harness the impressive capacity of FrontStream and the global expertise of CAF America, an opportunity that profoundly enhances their philanthropic strategies and changes lives around the world.”
FrontStream maintains a database of over 1.5 million charities in the U.S. as well as 85,000 charities in Canada. In addition to receiving a quarterly update of tax-exempt organizations from the Internal Revenue Service and Canada Revenue Agency, FrontStream uses a highly sophisticated set of internal controls to carefully vet any charities that may be eligible to receive disbursements from donors that are fundraising on behalf of organizations that do not exist in the database.
TRUiST currently vets 75,000 additional domestic charity records each year. With the addition of CAF America’s international charity vetting services, this number will grow exponentially to include foreign charities hoping to attract interest from donors who contribute $300 billion in charitable funds each year in the U.S. alone. FrontStream and CAF America are committed to ensuring that all supported organizations comply with U.S. rules and regulations and adhere to international grantmaking ‘best practices’ (including compliance with IRS regulations; anti-terrorist, FCPA and Patriot Act requirements).
“With the strength of our tools and the passion of our people, FrontStream has the potential to be a vehicle by which the world of giving is significantly expanded over the next decade,” states Nina Vellayan, CEO and President of FrontStream. “We recognize that, in order to execute a vision of that magnitude, it will require strong partnerships with organizations like CAF America that will allow us to quickly make an impact that is not limited by geography; we want to enable and increase philanthropic giving locally, nationally and internationally.”
To learn more about CAF America and FrontStream’s joint efforts, you may stream a live recording of the CAF America Radio show produced on June 6, 2014 at 12:00pm ET. In the episode, CAF America CEO Ted Hart interviews Nina Vellayan, discussing how the partnership will benefit foundations, corporations and individual fundraisers wishing to support international charities. The show is available at www.cafamerica.org/media/caf-america-radio. Additionally, there will be a joint national announcement of this important new philanthropic service made at the 2014 Council on Foundations (COF) Annual Conference on June 9th in Washington DC. To learn more about the event, please email email@example.com to be placed on the official event invitation list.
About CAF America
CAF America is a global grantmaking organization assisting corporations, foundations and individuals. CAF America streamlines the grantmaking process to eliminate risk and administrative burden, and helps donors support great causes by assisting them in making strategic, effective and tax-advantaged grants internationally and domestically. In the last 10 years alone, CAF America has granted more than $300 million in donor funds to more than 3,000 foreign charitable organizations in over 90 countries.
TRUiST provides an industry-leading corporate philanthropy platform that enables organizations to drive increased participation in giving, matching, and volunteerism programs to measure a local or global return on philanthropic investing. TRUiST’s experienced team supports organizations looking to manage, grow, and measure results from their CSR programs, improve the accuracy and speed in moving donor dollars, measure outcomes and save time on administrative tasks through advanced reporting and analytics.