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How It Works
How It Works triplethegift.com is an online gift registry where every gift made becomes three gifts in one. triplethegift.com allows parents to communicate a very easy gift giving solution for a special occasion. It's a simple and convenient way to give a gift that is both quick & eco-friendly. Each gift made becomes three gifts to the registered child:
One gift becomes: All of the gifts made for the registered child are pooled together and at the end of the registry, the total is split into the three gifts. How does triplethegift.com work?
Who can use triplethegift.com? A Celebrating Person and Family & Friends who would like to make a gift to a registered Celebrating Person can use triplethegift.com A Celebrating Person defined as someone celebrating an occasion like a
Then, the Gift Giver defined as someone generous enough to give a gift like
What are the gifts a Celebrating Person receives? After family & friends make the gifts, the gifts are totaled and a small transaction/processing fee (as little as 2%) are deducted from the total. Based on the choice made by the Celebrating Person for the triplethegift.com split, once the registry is closed, the following will happen:
The Gift Card portion will be rounded to the closest $5 increment, with the difference going to the college savings contribution. Within 10 business days the Celebrating Person will receive a letter from triplethegift.com which will include their Visa Gift Card or check, the amount of the deposit made to their College Savings Plan account (date & check number) and the amount sent to Share Our Strength®. College Savings Plans What is a College Savings Plan? A College Savings Plan, also known as a "529 Plan" is an education savings plan operated by a state or educational institution designed to help people save for future college costs. These plans are named after the section of the Internal Revenue Code, Section 529 that created the rules for these types of plans. The Federal Government wanted to promote savings for college by allowing for special tax benefits to the person creating the plan and the plan participant. Money is deposited in the College Savings plan similar to a savings account but instead using investment choices designated by the State. Although the contributions to this savings plan are not federally tax-deductible, the investment grows tax-deferred, the annual income is tax-deferred and distributions to pay for the person's college costs come out federally tax-free. The money from a 529 plan can be used for tuition, fees, books, supplies and equipment required for study at an accredited college or university. Additionally, the money can be used for room and board or off-campus housing costs (up to the allowance for room and board for that particular college). [Please consult with your tax advisor for further information.] What if I don't have a College Savings Plan account yet? You can still open your registry without the College Savings Plan account information. You will receive e-mail reminders once a week reminding you to complete the missing information. Does triplethegift.com recommend a College Savings Plan? There are many good plans out there to choose from. Some have unique features which may interest you. After a lot of research on our end, we recommend the college savings plan offered by the State of Iowa, College Savings Iowa. There are many features of this plan that we believe are helpful to our triplethegift.com customers, especially the low amount of the deposit required to get started. Here's what we like about the College Savings Iowa plan:
By using a college savings plan, your choice of school is not affected by the state sponsoring your 529 savings plan. For example, you can be a Maryland resident, invest in a College Savings Iowa plan and send your child to a university in California. Additionally, college savings plans are reported on the federal aid application as an asset of the parent (assuming the parent is the account owner which we recommend), not the child. Any distributions (withdrawals) from the plan that are used to pay for the child (beneficiary's) education expenses are not counted as either parent or student income. Ultimately, there is little affect on receiving Financial Aid while having a huge upside of additional savings for your child at a time they will most need it. Please note, triplethegift.com does not receive any commission for accounts opened with College Savings Iowa nor is triplethegift.com affiliated with College Savings Iowa. College Savings Iowa is a non-advisor plan. How do I open a College Savings Iowa account? It's easy! You can do it online or you can call and get an application mailed to you. Click here for a direct link to College Savings Iowa plan. You will need the following information to open an account:
Once you have that information, you should review your investment choices carefully. What if I already have a College Savings Account for my child? If you do have a college savings account for your child, we still recommend the College Savings Iowa plan as a second account. The additional account can be used for future gifts, for depositing Upromise Rewards, or a great place to put that extra $25 you may have at the end of the month. If you choose to use an existing college savings account, we may not be able to directly deposit into your account, but instead will issue you a check to deposit into your existing account. What is Upromise?
Do other college savings plans take Upromise rewards?
Charitable Donations What charitable organization does triplethegift.com support? triplethegift.com, as a business aimed towards facilitating gift giving between individuals, believes that it's our responsibility to help those in need. We have chosen Share our Strength®, a not-for-profit organization because they help better the lives of children in the same fashion that you have chosen to better the life of a child you know. Share our Strength® is a national organization that works hard to make sure no kid in America grows up hungry. They weave together a net of community groups, activists and food programs to catch children at risk of hunger and surround them with nutritious food where they live, learn and play.
Tell me more about Share our Strength® Share our Strength's vision is to end hunger and poverty in the United States and abroad. Why they do what they do Despite its devastating and highly visible consequences, childhood hunger is invisible. You can't see it just by looking, and you can't measure it in pounds, but it is among us: It affects black, white, Asian and Hispanic, short and tall, thin and chubby. Poverty is complex; feeding a child is not. Despite the good efforts of governments, private-sector institutions and everyday Americans, not all of our children have daily access to the nutritious meals they need to live active, healthy lives. Through dedicated, committed volunteers and community organizations, Share Our Strength finds childhood hunger where it hides and works to end it. How they do it Our efforts are focused in three areas: increasing access to public and private programs that provide food to children and their families; strengthening community resources that connect children to healthy food; and improving families' knowledge about available programs and how to get the most from limited resources. To accomplish these objectives, they have developed and are implementing a national strategy to end childhood hunger, along with a supporting 10-point plan. They follow a three-prong approach to implement this plan: through comprehensive state partnerships, grant making activities and nutrition education. What they've done On a state-by-state basis, Share Our Strength is developing partnerships to address state-specific needs, priorities and resources that are aligned with our strategy to end childhood hunger in America. Together, they are weaving a net of community groups, activists and food programs to make sure no kid in America grows up hungry.
Can the Celebrating Person choose a different charitable organization? Yes, you can choose a different charitable organization. Upon withdrawing from your Registry, you will need to provide us with the full name, address, phone number and tax identification number of the charitable organization. |
