About Impact Tokens
Impact Tokens are an easy way for you to prepay for your impacts with a Do-it-Yourself interface so you can buy and manage your Impact Tokens all on your own (or even assign them to your team members)!
Note: This Do-it-Yourself interface and the ability to buy and assign tokens is only available for members on the Small membership package and above. However, if B1G1 decides to allocate tokens, members will see it upon checkout.
All members have the ability to use tokens to create impacts.
IN THIS ARTICLE
Using Impact Tokens to Give and Create Impacts
When you have been given Impact Tokens, you can then use them on any project or Giving Story of your choice. To do so, simply add a story or project to your cart, then choose Use Tokens from within your cart.
If your cart is empty, this option will not available, so please do add a project or story to your cart to see the Use Tokens options.
Note: Dashboard Management and the ability to buy and assign tokens is only available for members on the Small membership package and above. However, all members have the ability to use tokens at checkout.
As a Company Administrator, you can manage all your Impact Tokens from your dashboard by clicking on your profile then Token Management.
Here's a summary of what each item on your dashboard means.
This shows the total value of Impact Tokens your company has purchased, including any tokens that are already redeemed.
This shows the total value of Impact Tokens you and your team members have redeemed (spent on a project).
B1G1 Issued Tokens
This shows the total value of Impact Tokens received from B1G1. This could be for reasons such as a reward for a successful referral.
This shows the total value of Impact Tokens that you and your team members have yet to redeem.
Total Outstanding = Total Purchased + B1G1 Issued Tokens - Total Redeemed = Allocated + Unallocated
This shows the total value of Impact Tokens that have been allocated to team members.
This shows the total value of Impact Tokens you have not yet been allocated to team members. Since they are not allocated, these tokens also represent the amount that can be used for giving from your Company account.
Manage Impact Tokens
Also on the dashboard, you'll be able to manage Impact Tokens for each of your employees' accounts.
- Click on Manage for the employee you want to allocate tokens to.
- On the pop-up interface that appears, choose ' Issue Tokens' and fill in the Amount you are allocating, the Reason (for your own reference), and the Activation Date.
- Click Confirm and you're done!
Tip: You can post-date Impact Tokens by choosing an Activation Date in the future. This can be very useful for bulk allocating tokens at the start of the year for employees' birthdays or work anniversaries.
If you ever need to revoke tokens, for e.g. there was a mistake made when issuing tokens, or an employee is leaving the company, you are also able to do so from your dashboard.
- Click on Manage for the employee whose tokens you want to revoke.
- On the pop-up interface that appears, choose ' Revoke Tokens', the Amount to revoke, and the Reason.
- Click Confirm and you're done!
Impact Tokens can have a few different statuses, and each will tell you more about the tokens.
Impact Tokens that have been allocated to a team members, but not yet activated.
Impact Tokens that have been allocated to a team members and have been activated, making them available for your team member to use.
Impact Tokens that have been revoked, removing them from your team member's account and returning it to the main account.
Bulk upload of Tokens
For those of us blessed with large teams, we know how much work it can be to issue tokens to each person. So, we've included an option to bulk issue tokens by uploading a CSV file.
- Download the template CSV file and edit the file accordingly.
- Click on Upload CSV then upload the file you've just created. Done!
Purchasing Impact Tokens
- On the main dashboard, click on the red Buy Tokens button.
- Fill in the amount you want to purchase, then Confirm.
- Choose one of your saved credit cards, or use a new card. Click Give and you're done! You'll see the amount reflected in your dashboard.
I noticed there's a 3.5% charge on the cost of the Impact Tokens. What is that?
Because of the added cost associated with this special donation vehicle, donations taking the form of Impact Tokens will incur a surcharge in the amount of 3.5%. Thus, for example, $1,000 worth of Impact Tokens will require payment of $1,035 at the time of purchase.
Do the Tokens expire?
Yes, they will expire 2 years from the date of payment. However, the expiry date of the Impact Tokens will be automatically extended each time you top up your Impact Token account, use it, or allocate any part of it to team member accounts – i.e., any activity in the Impact Token account extends its expiry for 2 years from that date.
Why didn't I receive a receipt when I make a contribution with Impact Tokens?
Contributions with Impact Tokens are not a monetary transaction and so there is no receipt. To check which projects you have contributed to with your Impact Tokens, have a look at your Impact History.
Are contributions made with Impact Tokens tax deductible?
Impact Tokens purchase is regarded as a donation to B1G1 Giving - which is a US charity - and the allocation of the Impact Token to specific B1G1 projects on later dates will not appear on the Tax Claim Statement.
Tax benefits can only be claimed at the point of payment for Impact Tokens, and only by the user who purchased the Impact Tokens. At the time of this payment, a receipt from B1G1 Giving will be issued. Contributions which are later made with Impact Tokens will not appear on any tax claim statement.
If you prefer to contribute to projects that are registered in your own country in order to claim charitable donation tax concessions, those contributions should not be made using Impact Token, but through regular contributions.