Northwest Startup Groundswell Provides Sustainable Funding Model For Nonprofits
Company to raise $1 million new crowdfunding laws to launch first customers
Press Release – WASHOUGAL, Wash. — GroundSwell, a Washington State social purpose corporation based in Washougal, Wash., is shaking up the philanthropic world with a sustainable revenue-sharing approach designed for nonprofit organizations. This month, the company–whose mission is to sustainably fund organizations that make the world a better place–kicked off its final round of investment crowdfunding to raise $1 million for its public launch this fall.
“Other companies, banks, and credit unions offer traditional debit cards. We created GroundSwell because we saw a better way to put technology, banking, and philanthropy together,” said Dr. Daniel Rubano, co-founder and CEO. “To date, we have raised more than a million dollars, and are now in our final phase of fundraising to allow everyone to become part of this movement and support our public launch this fall.”
Money on a Mission
Each time we swipe our credit or debit card, a transaction fee is generated, providing more than $60 billion in revenue to banks. Licensed as a bank, GroundSwell’s business model redirects these fees from big banks back and shares them with partner nonprofits through customized Visa debit card programs. Each time a card is used to make a purchase, the profits generated from the processing fees are shared with the nonprofit partner..
The result is a sustainable revenue stream that helps address the needs of the 1.5 million nonprofits that are underfunded, according to the National Center for Charitable Statistics. Nonprofit members’ Visa debit cards act just like a checking account, with no credit checks, fees, or interest, and are FDIC insured.
“We looked around and saw there was a need to act fast to make our world a better place,” said Joseph Graves, head of Operations & Program Development. “GroundSwell gives us a way to live out our commitment to making a difference and allow anyone to support the organizations they love by simply doing the things they would normally do every day already!”
Become a GroundSwell Investor
Anyone passionate about giving back and supporting nonprofits is invited to become part of the groundswell to share the wealth with those who will use it best. Participants can buy ownership through our partner Wefunder, an investment crowdfunding platform. These funds will support operations for the next 12 months to develop services, expand our nonprofit partner network, and conduct initial testing with early adopters. The minimum investment is $100. Owners will be the first to receive their Money on a Mission VISA debit card pre-loaded with thank you funds to start making a difference. They also will gain access to company updates, insider information, and company store. To learn more or make an investment, visit www.groundswellworld.com/media.
Nonprofit organizations interested in becoming partners, please visit groundswellworld.com/partner-faq
About Groundswell
Established in 2015, GroundSwell is putting money on mission by servicing nonprofit organizations dedicated to doing good in the world. By creating the opportunity for all of us to make a difference every day, GroundSwell provides sustainable revenue for underfunded nonprofits by redirecting visa debit revenue from big banks. To learn more, visit GroundSwellWorld.com and follow us at facebook.com/GroundSwellSPC, twitter.com/GroundSwellSPC and linkedin.com/company-beta/17955042.
Sources:
https://www.federalreserve.gov/paymentsystems/files/debitfees_costs_2015.pdf
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