401Gives 2023 Prize Specifications & Notes
There are five different time slots for matching gifts this year. Only online gifts are matched.
$25K in Matching Gifts (2 time slots)
• Two timeframes: Friday, 6AM - $25K - and Friday 4:01PM $25K – both sponsored by Rhode Island Foundation.
• Same as last year - Maximum match per unique donor, per nonprofit is $500. i.e. One donor could give $500 to four different nonprofits. As long as the money is still available, all of their gifts will be matched. One donor could give $1,000 to one nonprofit and only $500 of it would be matched. AGAIN... It is NOT a $500 match cap per nonprofit, it is $500 PER DONOR, PER nonprofit.
$20 Match PER Gift (2 time slots)
• Two timeframes: Saturday, 12PM Lunchtime Match - $25K – RI Foundation Match and Monday, 12PM - $20K by Papitto Opportunity Connection
• Until the pot of money is used up, each gift, no matter the size will be matched by $20. i.e. a $5 gift will become $25, a $100 gift will become $120 and a $1,000 gift will become $1,020.
Hope Global (1 time slot)
• The last $1,500 of 401Gives will be matched by Hope Global (ends 4/3/23 at 6pm). Maximum match per donor, (per nonprofit) is $50.00.
Donors cannot receive more than one match in the $25K match (the maximum $500 per donor, per donors one) BUT can get one of those matches plus any of the $20 per gift or Hope Global match.
• A “Unique Donor” is defined as one gift of $5 or more to one organization from one donor. (i.e. 10 - $5 gifts to the same nonprofit from one donor are considered one "unique donor” gift of $50). Anyone who attempts to game the system runs the risk of being caught in our audit. Prizes may be withheld if unique donors cannot be verified.
• Prizes may be revoked or withheld if donations or matches cannot be validated or if donations do not qualify as “Unique Donors,” including falsifying donor email addresses or matches.
• For the prizes where you have to have an amount of donors by a certain hour (i.e. have 10 donors by 9am to be eligible), you do NOT have to have new unique donors by the next prize timeframes.
• Nonprofits must be registered with an operating budget (micro, small, medium, or large) in order to be classified as a micro, small, medium, or large nonprofit, and may be subject to validation against 990's. Budget sizes:
• Budget sizes: Micro - $250K or less; Small –$500K or less; Medium –$500K - $2M; Large - $2M+
• "Offline" gifts are not eligible for prize or matching money.
• In the event of ties, prizes will be split.
• Prizes are subject to changes. If any of the prize categories/specifications are not met, it is up to the discretion of the 401Gives administrative team to issue prize money other than listed above.
• Nonprofits can only win one random hourly prize throughout the day. In addition to an hourly prize, they could win and of the “post” prizes. Nonprofits that won in previous year ARE eligible for prizes.
• United Way of Rhode Island is not eligible for prize and match money.
• Prize awards are subject to audit and will be finalized no later than April 5, 2023, 5pm.
• Match and prize money will be distributed to nonprofits by May 15, 2023 at the latest.