GIIN

AcronymDefinition
GIINGoethe-Institut Inter Nationes (German: worldwide network of cultural institutes)
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The GIIN and corresponding database of FFIs serve as the official notification to withholding agents that the FFI is exempt from withholding under FATCA.
Notably, 96 percent of respondents measure their social and/or environmental impact, with most utilizing third-party standards, including the Impact Reporting and Investment Standards (IRIS) metrics, offered as a free public good by the GIIN.
The GIIN builds critical infrastructure and supports activities, education, and research that help accelerate the development of a coherent impact investing industry.
The analysis relied on data collected by the GIIN, a nonprofit organization dedicated to increasing the scale and effectiveness of impact investing.
The new GIIN Verification capabilities are an integral tool for maintaining compliance with the Foreign Account Tax Compliance Act (FATCA), which has expanded tax reporting to a global stage.
Therefore, organizations must continually verify an FFI's GIIN status against the most recent IRS published list if they are to remain compliant.
Offering our clients GIIN verification demonstrates Convey's commitment to staying ahead of new regulatory requirements," Jeff Cronin, Convey's VP of Product Strategy stated.
Financial organizations can now leverage a centralized and flexible tax reporting technology platform like Taxport with the GIIN verification service to check payments to FFI's in real-time against the current GIIN list, which may reduce exposure to penalties and withholding risk by catching and correcting inaccurate data before payments are made.
Morgan, and The Rockefeller Foundation, and USAID are anchor funders of the GIIN, which is a nonprofit organization dedicated to increasing the scale and effectiveness of impact investments.
Other organizations supporting the program include GIIN (Global Impact Investing Network), Council on Foundations, the largest philanthropic association in the world, MaRS Centre for Impact Investing, European Venture Philanthropy Association and the MacArthur Foundation, a global grant-maker and impact investor that will be contributing cases and content for the program.
Morgan, and the Rockefeller Foundation are anchor funders of the GIIN, which is a nonprofit organization dedicated to increasing the scale and effectiveness of impact investments.