The Impact Wallet and its features are available, if offered by your company.
What is an Impact Wallet?
The Impact Wallet is a new and secure way to donate on Bright Funds. It allows donors to receive, store, and make donations with funds contributed personally, gifted by peers, or funded by your company through rewards.
What is an Account Balance?
The Account Balance you may see on your Bright Funds account is how much you have available to donate on Bright Funds via your Wallet. Personal contributions and company-paid contributions (including rewards, if applicable) will be applied to your Account Balance.
When you personally add funds to your Account Balance, your contribution is tax-deductible, right away.
What is the difference between a Contribution and a Donation?
While both are acts of generosity, they serve different purposes in the Impact Wallet experience:
- Contribution: funds added to the Account Balance. It can come from your personal payment method, a received Bright Gift, or company funds (via Rewards, if offered).
- Donation: funds sent to a specific nonprofit. Donations can be made from the Account Balance or directly using a credit card, bank transfer, or PayPal.
Are there processing fees for using the Impact Wallet?
Similar to when you make a donation on Bright Funds, there may be fees applied. Please note, if your company covers processing fees for donations, they will be covered when contributing to your Impact Wallet.
Why would I contribute to my Account Balance instead of donating directly to the nonprofit?
Contributing to your Account Balance gives you the flexibility to give when the time feels right. Instead of making a donation immediately, you can:
- Set aside funds over time with recurring contributions to your Account Balance
- Maximize your company match before it expires
- Redeem company rewards and build your balance
- Direct all funds to causes of your choice—whenever you're ready
It's like setting aside charitable dollars in advance, so you are ready to respond to moments that matter.
Have questions regarding the Impact Wallet? Please reach out to our team at support@brightfunds.org; we're happy to help!
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