Frequently Asked Questions
Q: What kind of charity is RetailROI?
A: RetailROI is a charitable foundation that acts as a donor-advised fund. This fund sits under the umbrella of the Giving Back Fund a 501(c)(3) organization (Federal Tax ID: 04-3367888). The Giving Back Fund specializes in community- based and athletes/entertainer charitable funds. Along with RetailROI, they manage funds for Ben Roethlisberger, Carlos Boozer, Elton Brand, Antwaan Randle El, Nancy Kerrigan, Yao Ming and many other athletes and celebrities. See
www.givingback.org for more details on their organization.
A: A donor-advised fund is a charitable giving vehicle administered by a third party and created for the purpose of managing charitable donations on behalf of an organization, family, or individual. A donor-advised fund offers the opportunity to create an easy-to-establish, low cost, flexible vehicle for charitable giving as an alternative to creating a private foundation. Donors enjoy administrative convenience, cost savings and tax advantages by conducting their grantmaking through the fund.
A: The money that comes into RetailROI are pooled together in the fund. The board of advisors and trustees recommend charities that they consider worthy to receive grants. The donor trustees then come to an agreement on if this cause is one they all agree should receive funds. Once the donor trustees come to agreement, a request is submitted to the Giving Back Fund administrators. The Giving Back Fund then researches to make sure the recommended charity is viable, in good standing, and a true 501(c)(3) organization. No contributions can go to or be used by individuals or non-charities.
A: No, all grants to the fund will go to only recommended charitiable organizations with 501(c)(3) tax status that are focused in our core giving areas of orphans and vulnerable children.
Q: Are the donor trustees or the board of advisors paid in any way from the fund?
A: No, everyone who is a donor trustee or on the board of advisors is a volunteer. We have contributed to the fund and do not receive any compensation. There are nominal administrative costs charged the fund by the Giving Back Fund as administrators, but these are a fraction of the cost of running a private foundation.
A: Yes, contact us at 310.649.5222 for more details.