Once logged in to your Gloo Impact account, click on your profile icon at the top right corner and select Setting to Verify Your Organization through the KYB process.

After verifying your organization, you can come back to the Settings page to edit/update your organization's name, website, and description at any point. Make sure to Save Changes. From the Settings page, you can also add team members by navigating to Team from the left hand menu.

To set up a new fund, go to the Dashboard tab and select Create Fund from the right hand side.

You'll then need to fill out the details of your fund including if you want your fund to be listed publicly in the Fund marketplace on Gloo Impact by selecting Public or only viewable by a private link by selecting the Unlisted.

You will then be prompted to invite a fund manager(s) to manage the operations of the fund.

Once your fund has been created, it will show up under the Dashboard tab. Once you click on that fund, you will see the Fund Dashboard on the left nav with next steps to complete which include seeding your fund as well as optional actions like adding a scholarship application and configuring pre/post surveys.

The actions we've highlighted below are adding a program to your fund as well as adding banking and team members.

From the Programs page in a Fund, you can click Explore Programs to add a new program, or you can click the Programs tab that’s right next to the Gloo Impact logo.

Now you can explore the Programs Marketplace. Select a program to learn more about it. When you’ve decided you want to add the program to the fund, click Sponsor this Program.

Next, you’ll see a breakdown of the program cost, platform fees, and total scholarship amount. Click Sponsor this Program to add the program to your fund. If the button says Sponsor program with waitlist, that means the program has a waitlist of applicants ready to receive the program when it becomes funded. When you’ve added the program to the fund, you can see it in the Programs tab within the Fund dashboard.

Note: When you add a program to a fund, it will cost the total scholarship amount every time a participant wants to go through the program as well as the 3% platform fee. For context, a $100 program will cost the sponsor $103 each time a participant is approved for the program scholarship.

To connect your external bank account as a Sponsor Org Owner, click on your profile icon in the top-right corner and select Banking. Click the Add bank account button.

Note: You can also get here by clicking Accounting on the left-hand side of a specific Fund and clicking the Connect bank account button.

Impact uses Plaid to connect to your external bank account. When the Plaid modal appears on your screen:

1. Click Continue to find your bank.

2. Browse popular banks or use the search bar to find your organization’s bank.

3. Log in using your online banking credentials and click Submit.

4. Select the account you want to connect to and click Continue.

5. Click Continue to finish connecting your account.

Sponsor organizations connect an external bank account using Plaid. In return, Plaid issues a “payment token” that is securely stored on our platform. When sponsor organization administrators are ready to deposit money into a fund, they can do so from inside the “banking” tab on the fund management page. The Plaid payment token is used to pull money from your linked account into your fund via ACH.

ACH payments usually clear in one business day, but it may take longer with some financial institutions. The balance is checked each time you make a deposit to ensure you do not overdraft your linked account.

When organizations sign up for Impact, they complete a Know Your Business (KYB) application and establish a bank account with our partner bank, Thread Bank. Each fund that a sponsor organization creates gets its own bank account, connected to their master account. When money is deposited to a fund, it passes through the master account and into the fund account. The account is in the name of your organization.

Each fund you create generates a demand deposit account. A demand deposit account is a fancy name for a “checking account”. Unlike a checking account you might open at your bank of choice, Impact fund accounts are governed by an Account Restriction Agreement which is part of Impact’s supplemental terms of service.

These restrictions are in place to ensure that funds are operated in a compliant manner and support Impact’s flow of funds. For more information, view our supplemental terms of service.

The Fund Manager role only has access to the Funds and Programs tabs. They don’t have access to Settings. Consider giving this role to people on your team who will be responsible for managing assigned funds.

Accounts with this role can: