What is PayPal Giving Fund?
PayPal Giving Fund is a registered charity (No.1110538) that enables PayPal to raise funds on behalf of UK charities. PayPal Giving Fund is working to create a network of donors, businesses and charities and provides a secure and easy way for people to find and support their favourite causes while at home or on the go. Working with leading internet businesses, PayPal Giving Fund generates more than $35m in donations each year to benefit charities in the US and UK.
Does PayPal own PayPal Giving Fund?
No, PayPal Giving Fund is an independently registered charity (No. 1110538) that operates exclusively to support other charities’ work. PayPal is committed to building a future that enables and inspires charitable giving on a greater scale than ever before. To help achieve this, PayPal provides PayPal Giving Fund with crucial financial and technical support, enabling PayPal Giving Fund to pass on donations without charging donors or charities for our services.
When and how do charities get paid?
We distribute donations to charities at the end of each month, by depositing a single payment into each charity’s PayPal account.
Donations received on the 16th of the previous month up to the 15th of the current month are distributed at the end of the current month.
We delay the distribution because it can help reduce charities’ donation administrative costs. The delay allows PayPal Giving Fund to account for any donor-reclaimed refunds and eliminates the need for charities to manage refunds or chargebacks directly with the donors.
We file for Gift Aid with HM Revenue & Customs (HMRC) after delivering the original donation to the charity. Occasionally, due to HMRC backlogs, there may be a delay in receiving Gift Aid. Typically we are able to pass on the Gift Aid the month after we pass on the original donation.