122: The Best Way to Pay: Pairing Business and Nonprofits to Fund Missions - Interview with Will Black, CEO of Sharing the Credit

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How Can We Fund Our Nonprofit?

Nonprofits are always on the lookout for more money, especially unrestricted funding. And as a nonprofit strategist, I’m always on the lookout for ways to help them find it. That’s where today’s guest comes in.

When I heard about Will Black and his team at Sharing the Credit last year, I knew I had to find out more about this and see if it’s a good resource to share with you. 

Turns out, it’s not simply a good resource; it’s brilliant.

I’ve had the pleasure of meeting Will in person and getting to know his team. Y’all, this is completely legit. Nonprofits and businesses everywhere need to know about this!

 

Unrestricted Funding for Nonprofits; Savings for Businesses

Every time we go to a business, be it a physical store or online, and use our debit or credit card, the business is charged a transaction fee. Everyone knows that. That’s the boring part. 

What you may not know is that ONE of those fees that is built in by Visa/MasterCard doesn’t go to Visa, and it doesn’t go to MasterCard; it goes back into the system. It goes to a bank. BUT instead of going to a bank, it can legally go to a 501. A non-profit. Ta-DA!

 

Sharing the Credit Saves Money and Funds Nonprofits

For example, Will Black and his Sharing the Credit team approached a successful car dealership that did $1 million in revenue each month. The dealership’s manager asked if there was any way they could better help their charity.

Enter Sharing the Credit. Will’s team reviewed the dealership’s statements and discovered they were overpaying by a whopping $30,000 a year in credit card fees. The general manager realized, “Wow! That’s a car. That’s a WHOLE car.”

Will said, “Actually it’s a car a YEAR. It’s a car EVERY year.”

Then Will handed them a copy of the report that outlined exactly how much they were overpaying in fees. 

It was a no-brainer. The dealership switched to Sharing the Credit on the spot. Now they save $30,000 a year AND they give over $125,000 every single year to their favorite charity - into perpetuity. 

That business has been working with Sharing the Credit for over 11 years…when you do the math, that’s pretty incredible. It’s a win all around.

 

A Transformational Way of Nonprofit Fundraising

The best part about these funds is that they’re unrestricted. That means the nonprofit can use the money any way it needs to best support their work. The staff can focus on the mission and growing their programs instead of scrambling to make ends meet. 

The system also creates community by partnering businesses with nonprofits to work together. The business even displays a cool door sticker showing they’re a supporter of the nonprofit.

Will and I also talk about: 

• The blessing of having a good budget

• Why grants are not a rescue plan

• The power of collaboration to help nonprofits

• Will’s favorite resource for nonprofits (hint: If you're hanging out with me, you’re in the right place!)

You might be wondering if this is too good to be true. I can assure you, this is completely legit and it’s working. Their track record speaks for itself. Take a few minutes to explore and see for yourself!

 

Challenge Question: What could your nonprofit do with more unrestricted funding in hand each year? If you want to find out, book a call with Will Black at Sharing the Credit and start the conversation to see if it’s a good fit for you.

 

Meet Will Black:

Will Black is the CEO and Chief Giving Officer at Sharing the Credit. They pair nonprofits with businesses so that your worthy cause receives unrestricted funding on autopilot, into perpetuity.

• They help your business fund or increase funding to your favorite IRS-recognized 501c charity with no expense to you, while saving your business money. 

• They help your nonprofit increase unrestricted donations with NO fundraising, grant writing, or soliciting. 

 

Connect with Will Black:

• Email: [email protected]

• Schedule a call: www.teresahuff.com/sharingthecredit

• Website: www.sharingthecredit.com

 

Connect with Teresa Huff: 

Website: www.teresahuff.com

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