FAQ

What is GiveTrack?

GiveTrack is a platform nonprofits use for taking donations and sharing with donors exactly how their contributions are used while tying donations directly to a project result. This current version is a Minimum Viable Product (MVP) in BETA. GiveTrack is a project of BitGive, a registered U.S. 501(c)(3) non-profit organization (EIN: 46-3362563).

How are nonprofits or campaigns posted?

Currently, GiveTrack is in BETA version, and therefore only the nonprofits and projects already partnered with BitGive, the owner of GiveTrack, are eligible to participate in the BETA. The platform will be open for additional nonprofits and campaigns soon. You can click on "Start a Project" in the top menu of the site to be notified when the platform is open for new project campaigns.

How do you show the financial information and project results?

GiveTrack is built on a public ledger that provides financial transaction information in real time. Donations made in bitcoin are displayed on the Bitcoin blockchain, a public ledger that is immutable and transparent. Project results are tied into GiveTrack through a reporting mechanism that provides notification of project milestones and written updates from the charity's representatives in the field. 

What is Bitcoin?

Simply, it is a secure form of digital cash that can be transferred anywhere in the world peer-to-peer, similar to email. More technically, bitcoin is a type of digital currency that uses cryptography and open source software to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. There is a distinction between bitcoin the digital currency and Bitcoin the technology, which has many additional potential use cases beyond the currency.

What is Blockchain?

A blockchain is the accounting ledger part of any good digital currency system. But instead of recording transactions into a private book, or private online accounting system, bitcoin uses a public, open ledger to record all transactions that is accessible and viewable by anyone anywhere.

These global transactions are settled or recorded when they are aggregated into "blocks" that become part of the blockchain approximately every 10 minutes. A blockchain is simply a series of blocks, containing the transactions on the network, chained together using cryptography to prevent cheating and tampering with transactions at a later time. GiveTrack is using the transparent, immutable, public features of the bitcoin blockchain to provide a more transparent, public financing option for charitable giving.

Who decides on the projects that are displayed?

GiveTrack, through BitGive, has partnered directly with the nonprofits who currently have projects displayed on the platform. However, each nonprofit has chosen the projects that are posted here for funding.

What if a project isn't fully funded?

Projects are designed to be distinct and tangible, often times only requiring relatively small amounts of funding to reach a result; however, it is possible that a project may not be fully funded. In this case, donors will be notified and given an opportunity to re-assign their donation to another project or receive a refund.

How do I know the project I contributed to was completed?

Each project will be updated as its status changes, and donors who contributed to that project will receive notifications at key milestones, including project completion. Donors can log back on to GiveTrack to see photos, written updates, and sometimes videos of the completed project.

What is a GiveTrack Partner?

GiveTrack partners are nonprofits who have a direct relationship with BitGive and have opted in to using GiveTrack to share their financial information and project results with donors.

How do the donation logistics work?

The GiveTrack nonprofit partner identifies the cost breakdown for each project and posts this in the campaign information. Once the project is funded, the nonprofit proceeds with purchasing the required materials, labor, and other necessary expenditures to complete project. Each of these transactions is available on GiveTrack. If the funds leave bitcoin and are converted into a local currency, digital or written transaction information is fed to the GiveTrack platform to complete the end-to-end transaction data tracking. Project status is also tracked by the nonprofit and information is fed to GiveTrack enabling donors to watch the progress of the project all the way to completion.

Would the projects still be completed if they were not funded on GiveTrack?

This depends on the nonprofit who is the lead for each individual project; however these are legitimate needs, and if they are not funded by GiveTrack donations, we would anticipate that the nonprofit leading the project would work to find other sources of funding to complete the project.

How do I get bitcoin to use the platform?

An easy way to obtain some bitcoin is through our friends at BitPay, Airbitz, or Coinbase. These wallets are user-friendly and let you interface with your bank account to buy bitcoin. Then you can try out GiveTrack! 

Can I donate on GiveTrack if I do not have bitcoin?

Not at this time.  We are working on a solution for users without bitcoin; however, until then, you must already have a bitcoin wallet installed and at least funded with the amount of BTC you wish to donate.

Is my donation tax deductible?

Yes. GiveTrack only works with nonprofits that are registered nonprofit organizations and can provide the necessary documentation for a tax deduction. Each nonprofit is responsible for issuing an official tax-deductible receipt to whom you made a contribution.

Does GiveTrack partner with companies?

Yes! BitGive, the owner of GiveTrack, partners with companies of all sizes to engage employees, recognize customers, and organize corporate giving. If your company is interested in partnering, please email info@bitgivefoundation.org.

Can my employer match my donation to GiveTrack campaign?

Yes! The matching funds typically cannot support the same campaign you funded due to company donation disbursement timelines, but they will support a new campaign after we receive them. Please contact us at info@bitgivefoundation.org for more information.

Do you have a question that wasn't answered here?

If you have a question that wasn’t answered here, please contact us via the contact form, and we will respond to you as soon as we are able. If we receive multiple questions about a similar topic, we will add that topic to this FAQ so that it is easily accessible to others.

FAQ Last Updated: 10/26/2017