Recoverable capital programme terms
Read these terms before applying. Submitting an application means you have read and accepted these terms. Applications are open on a rolling basis.
Australia and the US
🇦🇺 Australian track
A direct Charitable Working Capital Agreement (CWCA) between Elevate.gift (operated by Elevate Foundation, a registered Australian charity) and the recipient organisation. Recoverable structure: the capital returns to the donor pool from a future revenue event on the agreed schedule, and funds the next recipient. The amount is set against the project, not a fixed figure.
🇺🇸 US track
Routed via a partner US Donor Advised Fund (DAF) custodian using a recoverable-grant structure. The amount is set against the project. Recoverable: the capital returns via the DAF on the agreed schedule.
The capital can fund working capital (bridging a contract or revenue cycle) or a revenue-generating asset (equipment, a fit-out, anything that pays for itself). It is not a one-and-done grant or donation: it is recoverable capital the recipient is expected to recover from a future revenue event, in line with the agreement signed at deployment. If recovery is not achievable, the capital is treated as a one-off charitable grant at Elevate's discretion (AU) or the DAF custodian's discretion (US). There is no debt registration, no personal guarantee, and no claim over recipient assets.
Who can apply
We assess the project, not your registration. Charities, social enterprises, and mission-driven ventures are all eligible. The one test: does the project generate revenue that lets the capital recover and fund the next recipient?
Australian track
- ACNC registration and DGR status are helpful but not required — registered and unregistered applicants are both eligible. Tax treatment of the underlying donations may differ, but recovery works the same way.
- A clearly identifiable project use — working capital or a revenue-generating asset (not undefined general operating cash).
- A plausible recovery plan — a future revenue event the capital unlocks.
US track
- 501(c)(3) status (or a qualifying fiscal-sponsorship arrangement) is helpful but not required; we can discuss the routing for unregistered applicants.
- A clearly identifiable project use — working capital or a revenue-generating asset.
- A plausible recovery plan.
Both tracks
- Application must be submitted by an authorised representative.
- Selected recipients agree to share their story publicly (with reasonable review of language) so the case study can be used to attract further recoverable capital into the pool.
How recipients are chosen
Selection is merit-based, not random. Elevate reviews applications and selects against four criteria:
- Clarity of the project purpose
- Realistic plan for the capital to recover from a future revenue event
- Story strength — case-study value
- Geographic + sector diversity (we may favour an applicant in an under-served region or sector, all else equal)
Because selection is merit-based, the programme is not a trade-promotion lottery and does not require state-by-state permits in Australia. There is no drawing of names, ballots, or randomised selection.
What to expect
- Applications: open on a rolling basis — apply any time.
- Review: we aim to be in touch within ~2 weeks of your application.
- Funds disbursed: shortly after selection, on signing the recoverable agreement (CWCA for AU; DAF agreement for US).
What recipients agree to
AU recipients sign a Charitable Working Capital Agreement (CWCA) with Elevate (template available on request before signing). The CWCA sets out: the project purpose, the recovery trigger (the future revenue event), the recovery schedule, and a fall-back clause if recovery is not achievable.
US recipients sign a recoverable-grant agreement with the partner DAF custodian who routes the funds. Same intent, structured to comply with US 501(c)(3) and DAF rules.
In both cases, recovery is intended but not legally enforced as debt. If revenue does not materialise, the capital becomes a regular grant — what would have happened anyway.
How your application is handled
Application data (organisation details, contact info, any registration numbers, use of funds, recovery plan) is held by Elevate.gift in line with our privacy policy. Data is reviewed only by the Elevate selection panel and (for the US track) the partner DAF custodian.
If you are not selected, your application data is retained for 12 months in case future recoverable-capital opportunities arise that match. You can request deletion at any time by emailing hello@elevate.gift.
If you are selected, you agree to your organisation's name being announced publicly and your story being shared (subject to your reasonable review of language).
Fine print
- Elevate reserves the right to modify these terms or pause the programme at any time.
- Elevate's decision on selection is final. Unsuccessful applicants will not be entitled to feedback unless specifically offered.
- Capital is deployed against available pool funds. Elevate may select fewer recipients, or smaller amounts, than applicants request if applications do not meet the merit criteria or the pool is fully committed.
- This programme is general information only and does not constitute legal, financial, or tax advice.
- Governing law: New South Wales, Australia (for the AU track) and the State of the partner DAF custodian (for the US track).
Questions: email hello@elevate.gift before applying.