Give Lively Nonprofit Members must apply for Stripe's nonprofit discount in order to fundraise with Smart Donations, Text-to-Donate, and Peer-to-Peer Fundraising.
In order to receive a discount on Stripe's payment processing fees, nonprofits must send their EIN number and an electronic copy or PDF of a letter stating their 501(c)(3) status (this can be a letter from the IRS) to firstname.lastname@example.org.
Once your nonprofit status been confirmed by Stripe (this may take up to 7 business days as they typically update pricing on eligible accounts once per week), donations made to your organization using Give Lively products will be processed at a fee structure of 2.2% + $0.30 for all major credit card transactions, 3.5% for AmEx transactions, and 0.8% capped at $5 for ACH debits. This is Stripe's nonprofit discount rate as of this writing.
Our platform's "Cover the Transaction Fee" feature is calculated based on this discounted rate. If you haven't received the discount yet from Stripe, there will be a discrepancy in amount raised between our system and your Stripe Dashboard.
Stripe will not retroactively apply the nonprofit discount, so please make sure to complete the above steps as soon as possible to ensure you get the most out of every donation.