Donation payment methods to choose from

Did you know that there are several ways in which you can process your charitable donation to a nonprofit organization? Most nonprofits will accept a variety of payment types, providing you with flexibility and choice when supporting their mission. 

Below are some of the most popular payment options that most nonprofits will accept. Goodnation will accept all of these options when processing your gifts to your selected organizations. 

By check

Donating by check is the most traditional option. This method is useful because it eliminates any extra fees for the nonprofit. However, throughout the pandemic, we’ve seen mail time increase significantly. If you’re supporting an emergency effort or want to ensure the organization receives your donation promptly, you may want to consider a more expedited donation option. 

By credit card or debit card

Donating by credit or debit card is another traditional method, and most nonprofits will be set up to accept secure online donations. These transactions are quick and easy for all parties, but make sure you are aware of any  transaction fees that may be charged to you or the nonprofit per transaction.

By donor-advised fund

A donor-advised fund, or a DAF, is an account in which you set aside funds specifically for charitable giving. Many DAFs have a minimum balance amount or gift amount, so are typically used for larger donations. Initiating your donation is typically a simple process through your DAF portal and is then sent by check or wire transfer to the nonprofit you selected.

By wire transfer

Donating by wire transfer is a convenient option as it is typically a quick electronic transfer between accounts. It’s important to consider any applicable transfer  fees assessed to you or the nonprofit for the transaction.

By ACH payment

ACH payment is another electronic transfer between accounts, typically slower than a wire transfer. Transaction fees tend to be lower for these transactions.

By stock

Stock donations are another option for completing a charitable donation and one that may present unique tax benefits. Stock donations should be considered in partnership with your financial advisor and the nonprofit you are supporting

If you’re not sure which donation method is right for you, your Goodnation Philanthropy Advisor can help you determine the best option.talk to your Philanthropy Advisor, who can help you decide.