How long does it take to onboard a nonprofit?
How long does it take to onboard a nonprofit?
There are three phases for onboarding a nonprofit. The onboarding process usually takes 1-2 months. Since onboarding a nonprofit at Adyen is designed to encompass thorough vetting, strict adherence to financial regulations, and streamlined risk assessment, the onboarding time can vary.
It is possible to partner with your preferred nonprofit, which will have to go through the onboarding process with Adyen. If you wish to add your in-house nonprofit, we recommend to reach out to your AM to discuss the next steps of the onboarding. Please note that all new non-profit onboardings are subject to Adyen's approval and criteria.
The step-by-step process is key in maintaining trust and transparency between Adyen, the nonprofit, and the donors.
Note: Onboarding timelines differ based on each nonprofit's unique attributes. Elements like their fund dispersion approach, whether they fund directly or aggregate, can influence duration. This thorough review ensures alignment with each nonprofit's distinct framework. Generally, the process spans 1 to 2 months, depending on the specifics.
Phase 1: the questionnaire
In the first phase, the nonprofit needs to complete a questionnaire detailing its mission, operations, and financial practices. This includes a Flow of Funds chart that provides an overview of its financial transactions.
Customer Area application: The nonprofit then proceeds to create a donation account in the Adyen Customer Area, setting the stage for their Giving journey.
Phase 2: review
In phase two, the application is reviewed by our screening team. They will review the application, ensuring it's filled in and accurate. They may request additional documents where necessary to support the application.
Nonprofit agreement: Subsequently, an agreement between Adyen and the nonprofit will be established, detailing the zero-cost nature of the relationship.
Phase 3: going live
Once the review is completed and the agreement is signed, the nonprofit is ready to start receiving donations in phase 3. This marks the beginning of their Giving journey with Adyen.
