One of the questions we are frequently asked here at the TisBest Philanthropy office is “What happens to unspent Charity Gift Cards?”
TisBest Philanthropy Charity Gift Cards never expire. If you go rooting around in your sock drawer and find a TisBest card someone gifted you way back in 2007, you can redeem it here. But what happens if you misplace that card and forget it ever existed? In the gift card industry this is called “breakage”, and a certain amount of breakage is expected and built into a business’ profits. So if you give a friend a gift card to that corporate coffee chain and they never spend it, that money goes right into the corporation’s profits!
It’s a little different with TisBest Philanthropy Charity Gift Cards. When you make a donation by purchasing a gift card, that money is put into an account where it sits until your recipient decides on which of our Charity Partners they’d like to allocate it to (by spending their Charity Gift Card). If after three years your recipient has not spent the funds, we move some of that money into our operating budget. Again, the value of the card is always available for your recipient, and it never expires.
Here’s the best part: TisBest Philanthropy is a certified 501c3 charitable organization! So even if the card never gets spent, one hundred percent of your purchase is always benefitting a charity (Our mission can be viewed here) and your purchase is always tax-deductible! Unlike those coffee chain cards which go to a giant company’s bottom line, your gift – no matter how, if, or when it’s spent – is a gift of good.