Pinkaloo’s Modern Giving

Better Giving Studio identified this concept through the 2020 Reimagine Charitable Giving Challenge, an open innovation component of the program which sourced nearly 400 digital giving products and concepts. The concept summary below is inspired by and derived from the Challenge entry submitted to the Challenge. 

Why BGS is Excited About This Concept

• Pinkaloo’s budgeting tools, personal giving review, and collaboration functionality all support users in making giving more intentional.
• The API opens up possibilities for other financial institutions to leverage this technology for more everyday givers.

The Opportunity

People often give in a reactionary manner, when solicited by a friend or organization, without a real giving plan in place. According to Chronicle of Philanthropy, 50% of donors would give more if it were easier to donate. High net-worth families have used Donor Advised Funds (DAFs) to plan their giving for decades, but everyday givers haven’t had a similar tool to centralize and plan their giving. 

The Concept

Pinkaloo has automated every step of DAF administration to make a no-minimum DAF a viable solution for everyday donors. The Pinkaloo platform helps donors budget for their giving, discover charities and projects that match their passions, and donate to any charity while centralizing all tax receipts in one place. 

Modern Giving Accounts function like white-labeled, mini Donor Advised Funds that allow banking customers to manage all of their charitable giving through a centralized account. The accounts can be integrated into digital banking experiences, or, banks can build their own custom experiences with Pinkaloo’s APIs.

Pinkaloo’s users primarily fund their own Modern Giving account, but banks can offer additional funds as incentives for actions like setting up direct deposit, going paperless, or refinancing a loan. Users receive a tax receipt upon funding their account, then can distribute the funds as they wish throughout the year. They can also set up recurring contributions to help with budgeting.

Users can learn about giving opportunities through a community giving feed, as well as through promoted causes that the bank may want to draw attention to. Or, they can search for organizations to support in Pinkaloo’s proprietary database of every compliant charity, public school, and public school district in the U.S. 

Pinkaloo provides data and insights to bank clients on engagement in the program and breaks down the categories of charities that their customers care about.

Pinkaloo’s average donor is one of the 50%+ of American donors who give between $100-$2,500 per year.  Internal research shows that donors struggle with budgeting their giving, discovering organizations, collaborating with others, and tracking their giving. Pinkaloo’s suite of features addresses each of these bottlenecks.