In order to get your granted funds transferred to your 501(c)(3) organization, you'll need to claim your organization.
In order to claim your organization, you'll need to determine how you'd like to receive the funds. There are two options available for grant award delivery:
USDC is a digital, tokenized form of U.S. dollars on the Ethereum blockchain.
Using this option requires that you have an Ethereum wallet and requires that you have a small amount of Ether (ETH) in that wallet to cover transaction costs.
This method is preferred as it is faster, cheaper, and more straightforward. That said, it can be a bit confounding for new comers to the DeFi space so please reach out if you have any questions.
After claiming your organization, we'll transfer awarded dollars directly through your crypto wallet as well as any other subsequent grants.
From there, the funds will be in your wallet, ready to be spent on organizational needs. You can use services like Circle for Business or Coinbase to liquidate your USDC 1:1 as dollars in a U.S. bank account.
This method does not involve the use of new tools like a crypto wallet, and doesn't require you to have a cryptocurrency balance.
All you need to do is reach out to firstname.lastname@example.org with identifying information and we will take care of both claiming your organization and sending you granted funds.
We'll need your contact information (name, e-mail, and address) to process your claim of the organization. Once that is complete we then need your banking information (phone number, routing number, and account number) in order to process the wire transfer. Wire transfers usually take about 3-5 business days and cost $25 each (deducted from the grant amount).
From there, the funds will be in your bank account, ready to be spent on organizational needs.
Regardless of which method you choose, please let us know if you need any help!