SAN FRANCISCO, CALIF., Dec. 18, 2012 (GLOBE NEWSWIRE) -- Give2Asia and NGOsource announce a new collaboration that will streamline U.S. grantmaking to Asia. This collaboration will leverage Give2Asia's and NGOsource's complementary philanthropic services and their shared commitment to making international giving easier and more effective.
Give2Asia offers philanthropic services to donors and Asia-based charitable groups that create social impact for communities in need. NGOsource, a project of the Council on Foundations and TechSoup Global, provides a service that simplifies the task of evaluating whether a non-U.S. organization is equivalent to a U.S. public charity — a process known as equivalency determination, or ED.
Give2Asia will add equivalency determinations, conducted by NGOsource, to its comprehensive portfolio of grantmaking services, which cover all aspects of the grantmaking process from project design to results assessment. Today, Give2Asia makes grants solely using expenditure responsibility, which ensures that grant funds are used for a designated charitable purpose and requires recordkeeping and reporting on the part of the grantee. Through collaboration with NGOsource, Give2Asia will gain the flexibility to use either equivalency determination or expenditure responsibility as it evaluates Asian charities and carries out advised grantmaking for corporate, individual, family, and foundation donors.
"As U.S. donors increase their giving to Asia, our goal is to increase the quality of grantmaking," said Birger Stamperdahl, director of marketing and partnerships at Give2Asia. "By collaborating with NGOsource, we can provide the most reliable and comprehensive services for making grants to Asia. NGOsource will ensure compliance with the tax rules and regulations that govern equivalency determination."
Give2Asia and NGOsource will also jointly educate donors, giving them access to both NGOsource's legal expertise and Give2Asia's knowledge of the unique needs of the social sector in Asia.
"We are excited to work with Give2Asia," said Sheila Warren, director of NGOsource for TechSoup Global and an attorney with expertise on tax-exempt law. "Give2Asia is the most insightful and experienced advisor on philanthropy to Asia. Working together, NGOsource and Give2Asia can make grantmaking to Asia more accessible to the entire donor community."
After years of advocacy by the Council on Foundations and TechSoup Global, in September 2012, the U.S. Department of the Treasury and IRS issued significant rule changes to make international grantmaking easier, more cost effective, and less redundant. The agencies have invited public comment on some of these rule changes through December 24, 2012. NGOsource will launch in early 2013, after its legal experts have incorporated any changes that arise from the public comment period.
About Give2Asia
Give2Asia is a 501(c)(3) nonprofit social enterprise that makes international grant making safe, effective, and impactful. Since its founding in 2001, Give2Asia has raised $206 million in gifts and donations from corporate, foundation, and individual donors for 1,500 community partners in Asia. Give2Asia has demonstrated its ability to serve the needs of international philanthropy with its extensive on-the-ground network, knowledge of diverse social and economic conditions, and expert matching of donor interests with innovative and effective charitable groups. For more information, please visit www.give2asia.org.
The Give2Asia logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11960
About NGOsource
NGOsource, a project of the Council on Foundations and TechSoup Global, is an equivalency determination service that will help U.S. grantmakers streamline their international giving. Envisioned by grantmakers for grantmakers, NGOsource will simplify the often expensive, complicated, and duplicative task of evaluating whether a non-U.S. organization is equivalent to a U.S. public charity — a process known as equivalency determination, or ED. The service is expected to launch as early as 2013. For more information, please visit www.ngosource.org.
The NGOsource logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=16334
About TechSoup Global
TechSoup Global is a 501(c)(3) nonprofit social enterprise working towards the day when every nonprofit, library, and social benefit organization on the planet has the technology knowledge and resources it needs to operate at its full potential. TechSoup Global was founded in 1987 on the belief that technology is a powerful enabler for social change. Today, it has over 200 employees and an annual budget of US$33.5 million. It operates programs in Africa, the Americas, Asia Pacific, Europe, and the Middle East through a network of independent capacity-building non-governmental organizations. With support of leading technology companies — including Adobe, Cisco, Microsoft, and Symantec — TechSoup Global and its network have reached more than 384,000 organizations, including more than 48,000 organizations outside the United States; distributed more than 10 million technology products; and enabled recipients in 58 countries to save more than US$3.2 billion in IT expenses. For more information, please visit www.techsoupglobal.org.