Financial Matters

Does Social Good Fund offer a line of credit or have a credit card my project can use?

Can I use PayPal to receive PayPal-to-PayPal fund transfers from a donor or request payment? Yes. Social Good Fund can receive payment from Paypal-to-Paypal fund transfers to or from personal accounts.

How should I handle cash?

What bank does Social Good Fund use? Chase Bank.

What is the Social Good Fund bank account number and routing number?

Can you track a project’s spending by revenue source (Fund Accounting)?

What is Social Good Fund’s Fiscal Year? January 1 - December 31.

When are admin costs posted?

How long will it take for my invoice or reimbursement to be paid?

How long will it take for my PEX card to be funded?

Can I pay someone by wire transfer?

Can I use my own chart of accounts for income and expense tracking? No. You will need to use the chart of accounts provided by Social Good Fund for income and expense tracking.

Can I set up direct deposit for myself and/or my contractors to pay invoices?

How can I receive a matching donation from my employer?

Can I offer stipends, cash or gift cards to program beneficiaries?

Can my project sell merchandise?

Can I be reimbursed for mileage if I am required to drive as part of my project activities? How much can I be reimbursed?

Can I (my project) sign contracts for fee for service?

How long does it take to get a reimbursement? Up to 10 business days.

Can I be reimbursed for expenses incurred before I became a project of Social Good Fund? Unfortunately, no.

What constitutes a reimbursable expense? Typically, any expense that is allowed by law and is in service to the charitable mission of your project.