One of the concerns that we wanted to remove when it came to our hot new gift card donation service was the possibility of fraud and theft when donating a gift card. Before Gift Card Tank the process of donating a gift card to a charity was blindly sticking it in the mail and hoping that it was received, not stolen, and used correctly. Gift cards are considered monetary instruments, but they are not cash and can cause complications for your organization. Gift Card Tank removes these complications by handling the entire donation process.
An older concern that we heard about was when Baltimore Mayor Sheila Dixon was put on trial for her collection of gift cards for donation to charities, and a Maryland State Prosecutor contended that the Mayor stole some of the cards for personal use. Shameful.
Another concern was that gift cards are generally treated as cash by individuals but are a complicated asset for an organization. In St. Louis, thieves broke into a church and stole thousands of dollars worth of gift cards. Church leaders approximate the value at around $25,000. Yes, you are reading that correctly. The church had $25,000 in gift cards laying around. And they were stolen. With gift cards being treated as cash the church is unable to protect themselves unless they use the gift card. Until we created Gift Card Tank.
The list goes on…
These are problems that Gift Card Tank can help solve. We play an intermediary in the process and allow both the donor and your organization to receive timely information related to the transaction. Never again will your donors wonder if the gift card was stolen. Donors and the organization are both informed when a gift card is donated and sold, keeping the process as transparent as possible so that there are no questions about the legitimacy. Never again will your donors ask if gift card donations are going to sit in a box.
Donors are informed that their generous contribution has been converted to cash and will be treated as a Charitable Contribution by the IRS as they intended.