What kind of charity is RetailROI?
RetailROI is a charitable foundation that acts as a donor-advised fund. This fund sits under the umbrella of the Giving Back Fund a 501 c 3 organization Federal Tax ID: 04-3367888. The Giving Back Fund specializes in community-based and athletes/entertainer charitable funds. Along with RetailROI, they manage funds for Ben Roethlisberger, Carlos Boozer, Elton Brand, Antwaan Randle El, Nancy Kerrigan, Yao Ming and many other athletes and celebrities. See www.givingback.org for more details on their organization.
What is a donor-advised fund?
A donor-advised fund is a charitable giving vehicle administered by a third party and created for the purpose of managing charitable donations on behalf of an organization, family, or individual. A donor-advised fund offers the opportunity to create an easy-to-establish, low cost, flexible vehicle for charitable giving as an alternative to creating a private foundation. Donors enjoy administrative convenience, cost savings and tax advantages by conducting their grant-making through the fund.
Can contributions go to individuals or causes that are not charities?
No, all grants to the fund will go to only recommended charitable organizations with 501(c)(3) tax status that are focused in our core giving areas of orphans and vulnerable children.
How much of the money I donate will actually go to helping orphans?
In the last several years over 93% of the money donated goes directly to grants to help orphans and vulnerable children. Because of how we are structured and mostly staffed by volunteers, our overhead is extremely low compared to other charitable organizations.
Are the donor trustees or the board of advisors paid in any way from the fund?
No, everyone who is a donor trustee or on the board of advisors is a volunteer. We have contributed to the fund and do not receive any compensation. There are nominal administrative costs charged the fund by the Giving Back Fund as administrators, but these are a fraction of the cost of running a private foundation.
Can appreciated securities be donated to the fund?
Yes, contact us at 310.649.5222 for more details.
How are charities selected for grants from RetailROI?
Please click here to read the full description.
Can Retailers Donate Merchandise?
Absolutely, and this is a big part of what we are trying to do with RetailROI – help retailers donate overstocked merchandise they would like to get off the books and turn that into a tax deduction. RetailROI does not take this merchandise directly, but we have created several programs to help you along the path. Please click here for more information.
Do you work with US organizations as well as overseas?
Yes we do. Although the greatest needs for 400 million vulnerable children are worldwide, there are still many needs right here in the US. We have partnered with and provided grants to several US based programs, most specifically Safe Familes, 4Kids of South Florida, Lydia Home and others. We plan to support both charities here and abroad. Please see the case studies here to learn more about the specific charities we have supported. All are doing terrific work.