PayPal, in partnership with National Philanthropic Trust (NPT) and Vanguard Charitable, have launched Grant Payments, a new product that enables Donor-Advised Fund (DAF) sponsors, community foundations and other grantmakers to deliver grants to charities quickly and electronically via PayPal.
Grant Payments will make it easier and more efficient for charities to receive grants shortly after the funds have been approved by the grantmaker.
The new Grant Payments product will enable more than 200,000 PayPal confirmed charities to quickly receive grants electronically, streamlining and simplifying what has historically been a much more manual and inefficient process.
“PayPal is committed to offering safe, secure and seamless products and services that drive efficiency for grantmakers and charities to digitally send and receive grant payments.”
– Oktay Dogramaci, VP of Giving at PayPal.
In 2020, DAF donors granted at historic levels.
Grants from DAFs to qualified charities totaled an estimated $34.67 billion, representing a 27.0 percent increase compared to 2019 and the highest DAF grant increase in a decade.
Grantmakers and non-profits alike can utilize Grant Payments to save time and resources and focus on fulfilling their respective philanthropic missions.
“We are thrilled to partner with PayPal and NPT to bring modern and effective granting solutions to our donors and non-profit partners alike,” said Rebecca Moffett, president of Vanguard Charitable.
“Charities today need sustainable donor support more than ever. By streamlining the granting process, donors can make an even greater – and faster – impact on meaningful cause areas.
We look forward to continuing to bring innovative solutions to the granting space, ensuring that we’re always working to increase philanthropy and maximize its impact over time.”
“NPT is always interested in innovation and the pandemic amplified the need for non-profits to receive grant dollars more efficiently,” said Eileen Heisman, CEO of National Philanthropic Trust.
“This solution does that and more. We believe that PayPal-based Grant Payments will simplify and accelerate how grantmakers can get funds to non-profits for mission-critical programs.
The partnership with PayPal and Vanguard Charitable on this sector-wide solution could be a game-changer for other funders as well and has been enormously gratifying.”
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