In our continued push to add features to our already powerful administration interface for organizations, we’ve recently rolled out two changes that will allow nonprofits to better manage their finances: partial refunds and the ability to set and see donations at the organizational level in the currency of your choice.
WePay partial refunds
While Rallybound has allowed full refunds for some time, organizations have often requested the ability to partially refund donations, and we are pleased to now offer this feature. For organizations that use WePay as their processor (in the future, Rallybound will expand this feature to other payment processors that we support) the new refund system allows administrators to enter any monetary amount for the refund. Transaction fees assessed for the donation will also be refunded corresponding to the percentage of the refund given (i.e. a 50% refund on the donation will result in a 50% refund in fees to the nonprofit). While the payment processor fee refund depends on WePay’s terms of service, Rallybound has committed in all cases to refunding the percentage of our transaction fees associated with the partial refund.
Please note that one limitation placed on refunds with this change is that a specific donation can only be refunded once, regardless of whether it is a partial or full refund.
Handling international and multiple currencies can be a complicated endeavor for nonprofits running fundraising campaigns, and we continue to build out tools that allow our international and multinational clients to most effectively manage donations in whatever currencies they choose. While we have long supported multiple currencies and even allow currencies to be set based on each individual campaign, our latest update allows the Rallybound platform to store and track all donations at the “organizational” level.
This exciting update will eventually allow Rallybound to provide nonprofits with reports in a single currency of their choosing across all of their campaigns, no matter how many different currencies they have enabled. For example, let’s say a Canadian-based nonprofit runs campaigns using Rallybound in 20 different countries and collects donations in the local currencies of each of those countries. With our latest update, the Canadian nonprofit would be now be able to: a) see the total donations from all 20 campaigns converted into Canadian dollars; b) be able to normalize all 20 campaigns into Canadian dollars to compare results across countries in terms of Canadian dollars; c) have the option to be billed by RallyBound in Canadian dollars.
However, as with partial refunds, the ability to accept donations in a certain currency is dependent on the nonprofit’s chosen payment processor, each of which have their own capabilities.
For more information on how to these improvements can help your organization, please contact us.
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