System and Method for Funding a Collective Account

Abstract

A system and method for funding a collective account such as a charitable account includes issuing a plurality of financial instruments, linking the financial instruments to the collective account, aggregating individual financial instrument usage, calculating a bonus or other reward based on the aggregate financial instrument usage and funding or distributing the reward to the collective account. According to the invention, members of a civic, charitable, political or other entity may generate collective rewards or other benefits which may be attributed to the designated organization.

1 - 28 . (canceled) 
     
     
         29 . A computer-implemented method for processing a collective account said method comprising:
 performing the following steps at one or more computer servers:   issuing a plurality financial instrument accounts to a plurality of account holders whom are members of an organization, the financial instrument accounts adapted to be linked to collective accounts;   providing a fundable collective account linkable to the plurality of financial instrument accounts;   linking the fundable collective account and the plurality of financial instrument accounts;   aggregating usage corresponding to the plurality of financial instrument accounts linked with the fundable collective account;   presenting usage data to at least one member of the organization designated to review the usage data;   calculating a first reward based on the aggregate usage of the plurality of financial instrument accounts; and   funding the at least one collective account with the first reward such that the first reward is divisible among one or more sub accounts according to a provided reward allocation,   wherein the providing, linking, aggregating, presenting, calculating and funding steps are performed by a computer comprising a processor and a memory.   
     
     
         30 . The computer-implemented method of  claim 29 ,
 wherein the organization is selected from a group comprising families, business organizations, trade organizations, political parties, religious organizations, athletic organizations, professional societies, research organizations, educational organizations, social services organizations, lobbying groups, Political Action Committees (PACs) and consortiums of smaller interested groups.   
     
     
         31 . The computer-implemented method of  claim 30 ,
 wherein the collective account is held by the organization.   
     
     
         32 . The computer-implemented method of  claim 31 ,
 further comprising funding at least one donee account with at least part of the first reward that is funding the collective account, wherein the donee account is not held by the organization.   
     
     
         33 . The computer-implemented method of  claim 29 ,
 further comprising distributing the first reward from the collective account to at least one recipient in accordance with a purpose of the collective account.   
     
     
         34 . The computer-implemented method of  claim 29 ,
 wherein the plurality of financial instrument accounts are associated with a plurality of financial instrument cards.   
     
     
         35 . The computer-implemented method of  claim 34 ,
 wherein each financial transaction card is selected from a group comprising credit cards, ATM banking cards, debit cards, gift cards, smart cards, proximity type devices, and checks, or combinations of these.   
     
     
         36 . The computer-implemented method of  claim 35 ,
 wherein at least one of the plurality of financial transaction cards comprises one or more integrated circuits and a communication port for communicating with conventional card readers.   
     
     
         37 . The computer-implemented method of  claim 29 ,
 wherein the collective account comprises a charitable account.   
     
     
         38 . The computer-implemented method of  claim 29 ,
 wherein the linking, aggregating, calculating, and funding steps are done electronically in substantially real time.   
     
     
         39 . The computer-implemented method of  claim 29 ,
 further comprising issuing a statement to each of the plurality of account holders reporting the first reward amount contributed to the collective account by each respective financial instrument account holder.   
     
     
         40 . The computer-implemented method of  claim 39 ,
 wherein issuing the statement occurs on a periodic basis.   
     
     
         41 . The computer-implemented method of  claim 29 ,
 wherein the first reward is based on a percentage of the balances accrued by each account holder associated with the collective account.   
     
     
         42 . The computer-implemented method of  claim 29 ,
 wherein the first reward is based on the account balance maintained by each financial instrument holder associated with the collective account.   
     
     
         43 . The computer implemented method according to  claim 29 ,
 further comprising funding the at least one collective account with an additional contribution initiated by a financial instrument holder of a financial instrument account linked with the collective account.   
     
     
         44 . The computer implemented method according to  claim 29 , further comprising:
 calculating a second reward based on the aggregate financial instrument usage; and   funding the collective account with the second reward,   wherein the first reward is calculated and funded by a first vendor and the second reward is calculated and funded by a second vendor that is independent from the first vendor.   
     
     
         45 . The computer-implemented method according to  claim 32 ,
 wherein funding the at least one donee account occurs on a periodic basis.   
     
     
         46 . The computer-implemented method according to  claim 29 ,
 wherein the one or more sub accounts are collective accounts.   
     
     
         47 . A system for linking financial instrument accounts to a collective account and funding the collective account, the system comprising:
 a plurality of electronically readable financial transaction cards corresponding to financial instrument accounts, at least one of the electronically readable financial transaction cards associated with an individual account holder whom is a member of an organization;   a central computer comprising a processor and a memory operable to perform the following steps:   providing a fundable collective account linkable to the plurality of financial instrument accounts;   linking the fundable collective account and the plurality of financial instrument accounts;   aggregating usage corresponding to the plurality of financial instrument accounts linked with the fundable collective account;   presenting usage data to at least one member of the organization designated to review the usage data;   calculating a first reward based on the aggregate usage of the plurality of financial instrument accounts; and   funding the at least one collective account with the first reward such that the first reward is divisible among one or more sub accounts according to a provided reward allocation.   
     
     
         48 . The system according to  claim 47 ,
 wherein the organization is selected from a group comprising families, business organizations, trade organizations, political parties, religious organizations, athletic organizations, professional societies, research organizations, educational organizations, social services organizations, lobbying groups, Political Action Committees (PACs) and consortiums of smaller interested groups.   
     
     
         49 . The system according to  claim 48 ,
 wherein the collective account is held by the organization.   
     
     
         50 . The system according to  claim 49 ,
 the system further comprising funding at least one donee account with at least part of the first reward that is funding the collective account, wherein the donee account is not held by the organization.   
     
     
         51 . The system according to  claim 47 ,
 the system further comprising distributing the first reward from the collective account to at least one recipient in accordance with a purpose of the collective account.   
     
     
         52 . The system according to  claim 47 ,
 wherein each financial transaction card is selected from a group comprising credit cards, ATM banking cards, debit cards, gift cards, smart cards, proximity type devices, and checks, or combinations of these.   
     
     
         53 . The system according to  claim 47 ,
 wherein at least one of the plurality of financial transaction cards comprises one or more integrated circuits and a communication port for communicating with conventional card readers.   
     
     
         54 . The system according to  claim 47 ,
 wherein the collective account comprises a charitable account.   
     
     
         55 . The system according to  claim 47 ,
 wherein the linking, aggregating, calculating, and funding steps are done electronically in substantially real time.   
     
     
         56 . The system according to  claim 47 ,
 further comprising issuing a statement to each of the plurality of account holders reporting the first reward amount contributed to the collective account by each respective financial instrument account holder.   
     
     
         57 . The system according to  claim 56 ,
 wherein issuing the statement occurs on a periodic basis.   
     
     
         58 . The system according to  claim 47 ,
 wherein the first reward is based on a percentage of the balances accrued by each account holder associated with the collective account.   
     
     
         59 . The system according to  claim 47 ,
 wherein the first reward is based on the account balance maintained by each financial instrument holder associated with the collective account.   
     
     
         60 . The system according to  claim 47 ,
 the system further comprising funding the at least one collective account with an additional contribution initiated by a financial instrument holder of a financial instrument account linked with the collective account.   
     
     
         61 . The system according to  claim 47 , further comprising:
 calculating a second reward based on the aggregate financial instrument usage; and   funding the collective account with the second reward,   wherein the first reward is calculated and funded by a first vendor and the second reward is calculated and funded by a second vendor that is independent from the first vendor.   
     
     
         62 . The system according to  claim 50 ,
 wherein funding the at least one donee account occurs on a periodic basis.   
     
     
         63 . The system according to  claim 47 ,
 wherein the one or more sub accounts are collective accounts.   
     
     
         64 . A computer-implemented method for processing a collective account said method comprising:
 performing the following steps at one or more computer servers:   issuing a plurality financial instrument accounts to a plurality of account holders whom are members of an organization, the financial instrument accounts adapted to be linked to collective accounts;   providing a fundable collective account linkable to the plurality of financial instrument accounts, wherein the collective account comprises a charitable account held by the organization;   linking the fundable collective account and the plurality of financial instrument accounts;   aggregating usage corresponding to the plurality of financial instrument accounts linked with the fundable collective account;   presenting usage data to at least one member of the organization designated to review the usage data;   calculating a first reward based on the aggregate usage of the plurality of financial instrument accounts;   funding the at least one collective account with the first reward such that the first reward is divisible among one or more sub accounts according to a provided reward allocation, wherein the one or more sub accounts are collective accounts;   funding at least one donee account with at least part of the first reward that is funding the collective account, wherein the donee account is not held by the organization;   funding the at least one collective account with an additional contribution initiated by a financial instrument holder of a financial instrument account linked with the collective account; and   issuing a statement to each of the plurality of account holders reporting the first reward amount contributed to the collective account by each respective financial instrument account holder,   wherein the providing, linking, aggregating, presenting, calculating, funding, and issuing steps are performed in substantially real time by a computer comprising a processor and a memory.