Philanthropy Ventures, LLC from Denver will be launching the new EqualityCard on Feb. 24, a project that will allow anyone to donate money to an LGBT organization of their choice, simply by using a credit card.
Here’s how it works: when using a credit card roughly three percent of purchases made on the card go the credit card companies. It is then split between the actual credit card company (Visa, MasterCard, etc.), the data processor and the last percent typically goes to the card’s reward program. Here is where the EqualityCard is different. Instead of the last percent being a rewards program it gets donated into LGBT programs like Immigration Equality or Athlete Ally.
“Not everyone can write that huge check at the big gala dinner every year. College students who are LGBT or LGBT allies might not be able to do that, but they all have credit cards,” said Cindi Creager from CreagerCole Communications in New York. “They can proudly display that card and they know that every time they go to lunch or buy text books or whatever it is that they’re supporting the movement, that one percent of that purchase is going back to an LGBT nonprofit that they care deeply about.”
Creager has known the EqualityCard’s creator and Philanthropy Venture’s founder, Nick Lepestos, since they were kids.
“I really have to give Nick a lot of credit because he has wanted to do this right,” Creager said. “I felt a comfort level of having him present this opportunity to bring a whole new revenue stream to the LGBT giving space. He has shown his commitment to make sure that this reflects the LGBT movement in the most positive, inclusive and meaningful way.”
Lepestos said that some of his reasoning behind building the card was because he feels the LGBT community is “highly underserved, especially in the financial world.”
Philanthropy Ventures originally tried to reach out to LGBT nonprofits when working with the HaloCard, which the EqualityCard gets its giving platform from. But the HaloCard reaches out to all nonprofits generally and didn’t seem to fit as well with the LGBT movement. When Lepestos and Creager suggested an LGBT specific card to focus groups it became a different story.
“I could see people’s eyes lighting up,” Lepestos said.
“I’m extremely excited about EqualityCard’s potential to generate new revenue streams for the LGBT Movement. The momentum of LGBT rights has never been greater. Now is the perfect time for this bold new fundraising initiative,” Creager said.
Visit Equality Card online at equalitycardproject.com for more information.