Here’s how funds flow through IIC:
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IIC receives Kim’s pledge, and places it in the IIC Philanthropic Fund.
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The pledge stays there until the next quarterly distribution, when IIC distributes funding to all Nonprofit Partners who have been selected by participants like Evan.
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The nonprofit Evan selects receives the funding from IIC.
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IIC recognizes Kim and Evan (with consent) for their role in the philanthropy.
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IIC retains 8.75% of funds earmarked for distribution, passing on 91.25% to the selected Nonprofit Partners. In addition, IIC retains $50.00 from only the first annual distribution to a Partner.
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As a nonprofit organization, IIC strives to be self-sufficient. This small revenue stream helps offset our operating expenses.