Your Infinite Giving monthly account statements provide a complete view of your nonprofit accounts in regards to investments and activity.
Who Sends Account Statements:
Statements are sent out directly by our custodian and clearinghouse, Apex Clearing.
Apex Clearing Corporation is a custodian and clearing firm that handles the behind-the-scenes operations for investment accounts.
They're a FINRA-regulated, SIPC-insured financial institution that works with fintech platforms, advisors, and investment firms.
Timing of Account Statements:
Apex will send statements within the first 7 business days of the month for the previous month’s statement.
Statements are often posted within the first couple of days of the month, but can sometimes take up to 7 days.
Notification of Account Statements:
Apex will email the account owner only to alert them that a statement has been posted. No other users can be added to that alert.
Account owners can then login to download their statement. At this point, anyone else on your team can also login to their Infinite Giving dashboard to download the statements.
Schedule of Interest Payments/Dividends:
Asset | Interest/Dividend Payment Schedule |
FDIC Sweep Program | Around the 16th of each month |
The first business day of each month | |
Treasury Bills | Upon Maturity: See your dashboard for your unique maturity date (for tbills, technically coupon rate or ‘interest’ is the discount rate to the face value) |
ETFs | Varied, but often monthly |
Section by Section Guide to an Account Statement
Below is a section-by-section guide to help you understand what everything means.
Important notes:
You will receive one statement PER account for each account you have with Infinite Giving.
The statement images included here are for example and illustrative purposes ONLY. This is not a real statement and the numbers represented here are not real returns.
Account Overview
Statement Period: The range of dates covered (e.g., Nov 1 – Nov 31).
Account Number, Organization Name, & Address: For reference and internal tracking.
Account Summary:
Opening & Closing Balances: Starting and ending value of the account that month.
Portfolio Composition:
Money Market Funds
FDIC Insured Deposits: Cash held in insured bank programs.
Total Equity Holdings: the total amount of assets held in that account.
Income and Expense Summary:
Credit Interest: There is a short delay (typically less than a day) before cash is swept into our FDIC sweep program
During this time, interest earned on the uninvested cash balance in your brokerage account is paid as credit interest.
Money Market Dividend: Dividend income earned on cash held in a money market fund:
Interest payments: money market dividends are paid out monthly on the 1st of each month. It appears on brokerage account statements as a dividend rather than traditional interest.
Example:
Mar 5: Funds invested
Mar 6: Dividends starts accruing (settlement date)
Apr 1: March dividend paid (for Mar 6-31st)
Apr 1-7th: Statement for March comes out but does not have dividends reported yet because first dividend payment came April 1st
Apr 30: End of first full month of dividends
May 1: Full month of dividends paid for April
May 1-7th: Statement for April comes out which shows the partial dividend payment for Mar 6-31st
June 1: Full month of dividends paid for May
June 1-7th: Statement for May comes out which has first full months of dividends (the amount paid out on May 1st)
Bank Interest: Interest from the funds in the FDIC-insured cash sweep program.
Portfolio Equity Allocation: Pie chart (in percentages) that shows how funds are distributed.
FDIC Insured Bank Balances
This page lists where your cash is held and which banks are part of the FDIC Insured Sweep Program. See here for a full list of member banks.
Example: “Ally Bank, Charlotte, NC – $11,000.00”
Nearly all accounts will keep a very small (usually less than 0.25-1%) cash holding as part of the portfolio for immediate liquidity needs and quarterly fees.
Portfolio Summary
This section breaks down your investment holdings by type. See below for an example with explanation.
*Note: we hold a small portion 0.25-1% of funds in our FDIC sweep program for immediate liquidity needs and fees. All portfolios will be rebalanced to maintain this threshold as required.
Money Market Funds
Example: Vanguard Money Market (VMFXX)
Quantity: $1,030,000.00
Est. Annual Income: $60,000.00
The estimate is calculated based on the daily accrual that has taken place so far. The formula is: (Shares x Rate = Dividend accrual) x 12.
FDIC Insured Deposits
The FDIC Sweep Insured Deposit Program (ISPZZ)
Value: $11,000.00
Treasury Bills
Example: United States Treasury Bill
Re issue date: the date the treasury bills are purchased
Interest from date: date the bills will come to maturity and the difference between the discount rate and the face value will be realized as “interest”
Example: $455,400 is the current price and at the maturity date, the treasury bills will pay $460,000
You’ll also see columns for:
Market Value: What your assets were worth at month-end
% Change: Month-over-month value shift
% of Total Portfolio: Proportion of your total funds in that asset
Account Activity
This section shows the movement of money, helping you track inflows and performance-generated growth.
Note: we automatically reinvest all dividends and interest payments into your chosen portfolio. You can withdraw funds anytime by logging into your dashboard and going to “Transfers.”
Here you'll find detailed transaction records:
Dividends and Interest: Income as dividends that are reinvested (e.g., VMFXX)
Dividends and interest will appear as credits to your account as a record of receiving the income
Reinvestments appear as a debit to your account as the funds are being reinvested
Interest on Credit Balance: As explained further in the Account Overview section, interest earned on the uninvested cash balance in your brokerage account is paid as credit interest.
Funds Paid and Received
ACH Deposits and wires: Contributions into the account from your linked checking account or other accounts from which you have wired funds will appear as a credit (e.g., $100,000.00 credit)
Fees: Debit to the account which also shows as “Redeemed” funds under FDIC Insured Deposits Bank Activity
FDIC Insured Deposits Bank Activity
Details cash movement within the FDIC cash sweep program.
The cash sweep program gets up to $5M in FDIC insurance.
Sweep: Money moved from your linked checking account via ACH or wire into the insured deposit programs
Interest: Earnings on the FDIC sweep program
Dividend Reinvestment: Earnings that are reinvested
Disclosures and Policies
These pages provide:
Apex Clearing disclosures
Regulatory information
Privacy policies and insurance coverage details
Need Help?
If anything in your statement is unclear, or you’d like a custom walkthrough of your organization’s account, please reach out to us at support@infinitegiving.com. We’re happy to help.