The biggest challenge and misconception of Commercial Co-Venture (CCV) compliance is that it can appear to be a one-off occurence.
In reality, CCV compliance requires multiple filings as well as regular reporting at the beginning and at the end of any CCV campaign.
One of the things we often witness when customers previously used a law firm for their compliance filings is that they are unaware of the ongoing need for updating reports detailing financial returns and campaign results as well as the necessity for terminating the CCV at the completion of a campaign.
Additionally, one of the bigger challenges of managing and filing CCV campaigns is that the cause marketing campaigns often do not have specific end dates.
So, a business doing cause marketing with multiple nonprofits will often have multiple CCVs in force.
The filings – even though the campaigns may be over or on pause – often are not properly completed or filed.
Often, companies desire to do a campaign in the future with a nonprofit and they leave the CCV open, thereby requiring the continued filing of updates and reports that detail the activity and the amount raised for the nonprofit as well any current activities that are ongoing.
This is why using a compliance solution like Change is so critical.
Every CCV requires a string of timely state filings and updated campaign reports.
Below, we’ve detailed the filings required for each period during the life of a CCV.
Change holds your hand and walks your through a comprehensive compliance solution for registering your commercial co-venture campaigns.
Here's what you can expect by engaging in business with us:
We create your regulatory company profile, including corporate facts, states you're engaged in cause marketing, nonprofits you are working with and the types of campaigns you plan to run.
This information is used to register your company as a commercial co-venturer together with our partner Donor Advised Fund.
We create your regulatory compliance filings, register your commercial co-venture, pay necessary filing fees, and establish your donation relationship with our partnered Donor Advised Fund (DAF).
Usage of our partner DAF allows you to run cause marketing campaigns with over 1,000,000 vetted nonprofits, while consolidating all of your CCV compliance reporting with our single DAF.
Instead of filing reports for multiple CCV’s, multiple times in multiple states, all the filings are consolidated into one DAF.
You still work with the cause marketing nonprofits that you want to—you can keep your nonprofit relationships, it’s just that the filings are exponentially reduced and consolidated into our partner DAF which already has relationships with over 1,000,000 nonprofits.
We'll work with you to assemble the details on each of your individual cause marketing campaigns and file that information within the CCV relationship established with the DAF.
Together, we will complete an umbrella CCV agreement between your company and our partner DAF.
We will have a mutual, high-level agreement that covers your donation campaigns and allows for a range of expected donation amounts.
The agreement allows you flexibility throughout the year, so you aren't pigeonholed into running only a certain kind of donation campaign with a specific nonprofit, but you have the freedom to run multiple campaigns, with multiple nonprofits, aligning with multiple causes which support your revenues and strategic initiatives.
Change now carries the ball and files the CCV filings in the states that require filings, as well as ongoing filings and reports, including:
Your life just got easier and more flexible.
Now you can add nonprofit campaigns easier and branch out into other, customer-base appropriate cause niches.
Your compliance regimen just got outsourced, so your free to concentrate more on cause marketing and social impact, and not on time consuming regulatory filings.
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