Donor Advisor Fund

HBMG Foundation is a 501(c)(3) public charity, and we partner with Encast to manage and distribute each HERO User’s Giving Accounts. The nonprofit world refers to each Giving Account as Donor Advisor Fund (DAF).
 
HERO Users are donors who advise on the causes (non-profits) they want receiving funds. HBMG delivers, in the form of lump grants, monies to causes supported by HERO Users. Think of Encast as the administrator that tracks, reports, and maintains the HERO technology, while HBMG ensures that funds are safe and get where they belong.
 
HERO Giving Accounts can provide a tax-deduction in the year that the deposit was made, though you should check with a tax professional to determine deductibility. HERO Users can choose which causes to support, and when they wish to support them. Exploring, identifying, and donating to Hero User-directed causes is done on their time, at their pace. Each January, HBMG provides HERO Users receipts for tax season.

Encast is giving your giving more impact. And simplicity. So we've partnered with Encast to manage your Giving Accounts. Encast HERO users get the advantage of having their donations managed by a Donor Advisor Fund (DAF) through HBMG Foundation. And that’s a good thing. A very good thing, actually.

HERO user donors are empowered through Encast technology to advise on the non-profits and causes that they want to receive their funds. HBMG Foundation then delivers your money in the form of lump grants to causes supported by you and other HERO users. Think of the relationship this way: Encast is the administrator and we track, report, and maintain HERO technology. HBMG Foundation keeps your money safe and makes sure it gets to where you want it to go.

And that you get your tax benefit. Each January, HBMG Foundation provides HERO users receipts for tax season. Because HBMG Foundation and Encast Giving Accounts are managed by rules and regulations established by the IRS.

Our operations are independent of each other, too. We were established in 2003 and are run by a completely independent board of directors and staff as a 501(c)3. Plus, your DAF is maintained by Wells Fargo Advisors.

Encast and HBMG Foundation. Now that’s the way to give!

Here’s how it works with your employer.

Payroll Integration with Encast WorkHERO
There are simple steps for processing payroll deductions through WorkHERO:
1. An Employee notifies their Payroll Administrator of the amount they intend to give per pay period.
2. The Payroll Administrator ensures that the Employee signs an agreement for the regular deduction.
3. Each pay period, the payroll processor (or your company) will provide a CSV file, which lists every employee and their donation deduction, whether or not they are participating in WorkHERO. (I think this "whether or not part is confusing and needs an explanation.)
4. HBMG Foundation then invoices your payroll processor (or your company) the sum total of employee giving deductions each pay period. Invoices are due for payment upon receipt and can be paid via check or wire transfer directly to HBMG Foundation. Employee funds will remain temporarily pending - and unavailable for donating.
5. After HBMG Foundation receives the funds, pending employee donations will become available to users in WorkHERO.
6. HBMG Foundation will send payments to nonprofit organizations directly, on a scheduled basis. No action is needed from the company administrator for that part of the transaction.

Payroll processors need to be contacted to make any alterations to accounts or records, such as adding employees or changing giving amounts.