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Yes. 100% of monies spent by players on Golden Hearts Games are IRS-compliant charitable donations, tax-deductible for people who claim such deductions on their tax filings.
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This is because 100% of every donation made by every Golden Hearts Games player immediately goes to our trusted partner, Givinga Foundation, which is a U.S. 501(c)(3) public charity. And that is why, immediately after you (and all players) make donations, you receive (via email) IRS-compliant charitable donation receipts, for 100% of the amounts donated.
Then, after donations are received and processed by the Givinga Foundation, all donated monies are divided into three parts: 1) Prize Payouts. 2) Grants to player-designated, end-recipient charities. And 3) our Operator Fees.
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A very large majority of donated monies is used to fund Prize Payouts – that is, to fund the cash prizes and payouts of the games. Why? Well, because nobody will ever play our games if the games don’t have lots of wins, with great, competitive odds and prizes! (Would you?)
Currently, 80% of all donated monies go to fund game prizes. Then, the remaining balance, of 20% of all donated monies, is divided equally, 50/50, with one half going to Grants (to whatever charity a player designated to receive their support, provided that charity is in good standing with the IRS), and the other half to us, Golden Hearts Games, as our Operator Fees, for being the creator and operator of all the Charitable Promotional Games on our various digital platforms. Amongst other things, our Operator Fees pay for all the servers, software and technology expenses required to develop and run the digital Charitable Promotional Games, as well as our employees’ salaries and benefits, and other legal, corporate operating and marketing expenses, and the processing costs incurred to deliver the Grants to the many player-designated charities. For example, if you make a $100 donation, all of that $100 immediately goes as a charitable donation to the Givinga Foundation, and you get a charitable donation receipt via email for that full $100 (all or part of which may be tax-deductible, depending on your tax status and filings.) Then, 80%, or $80 of the $100, is set aside to fund game prizes. And then the 20% balance – $20 in this example – is split 50/50 between your designated charity and Golden Hearts Games. Meaning, in this case, your designated charity receives $10 and Golden Hearts Games receives $10.
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Please note: While these percentages and ratios may change at any time at the sole discretion of Golden Hearts Games, Golden Hearts Games will always split the post-prize-payout balance of monies 50/50 with players’ designated end-recipient charities.
In other words, players’ designated end-recipient charities will always receive 50% of the balance of all donated monies after prize payouts are deducted, regardless of whether the prizes-payouts allocation is 80%, or some other percentage, higher or lower. In short, after prizes are funded, end-recipient charities will always receive 50% of monies remaining, never less.
We highlight this because we’re proud of it:
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Unlike other Charitable Promotional Games platforms, Golden Hearts Games will never take more fees from donations than the amount that is given to end-recipient charities.