Managing Your Money Means Managing Your Giving, Too. So Says Gideon Taub, Founder of Pinkaloo

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EPISODE: 19

Gideon Taub

Episode Summary

Gideon Taub, founder of Pinkaloo, is on a mission to democratize philanthropy.He says that while there’s been a lot of innovation to help charities raise money, there hasn’t necessarily been a lot of focus on how donors manage all of their giving. He also says giving has been siloed and isolated and explained why people should be more proactive in their giving. Pinkaloo seeks to change that.

Gideon and host Josh DeTar discuss the virtual community and the importance of investing in digital banking. As Gideon explains, COVID accelerated digital adoption; people who didn’t use digital banking apps were forced to use them. He also says in the past 18 months, there’ve been nonprofits that have really struggled, and there have been nonprofits that have seen a lot more funds flow.Gideon and Josh discuss solutions.

Key Insights

People are very reactive in their giving. Gideon explains if we have a cause we are passionate about, we’ll likely suggest it to our  friends. “I’m trying to raise money for this cause. Would you consider giving?” It’s what leads people to give. Another cause is a natural disaster or a pandemic. ”That moves them to give,” says Gideon. “They don’t actually have a plan, a budget, a strategy at the beginning of the year. We work to flip that narrative a little bit from reactive to people being a little more proactive. Okay, my goal is to give X dollars this year and at a high level, the kinds of organizations that I might want to be supporting with those dollars.” 

⚡ Historically, giving has been siloed and isolated. The giving feed, as Gideon explains, was a groundbreaking discovery and a useful tool on many levels.  ”That’s an amazing discovery tool, where I see you make a donation, whether it’s to your foundation or other organizations in the community. There’s a seal of approval right there. Here’s somebody who thinks this organization is worthy, and it leads me to click in and learn a little bit more about it, but also feel more connected to my community,’ says Gideon.’

⚡ The concept of a virtual community is becoming important. The outbreak of COVID-19 has changed all segments of our lives. For instance, people are going less frequently to their branches and turning to digital banking. Therefore, being part of a virtual community, even for charity organizations, is of the utmost importance. Gideon says, “Thinking about how we recreate some of those experiences within the digital banking app is something that we also spend some time thinking about. We definitely don’t have all the answers. It’s like, how do we reinforce the sense of community? ”

2021-06-23T14:52:16-07:00June 11th, 2021|
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