What is Crowd Funding?

According to Wikipedia….”Crowd Funding describes the collective cooperation of people who network and pool their money together, usually via the Internet, in order to support efforts initiated by other people or organizations”. A Project Creator posts a project with a funding target and timeframe, and engages people to pledge money in exchange for rewards.

What is iPledg?

iPledg provides Project Creators with commercial, creative, charitable & community projects an easy online platform to raise money, enabling these Project Creators to promote their idea, engage a fan base and fund their passion.

Is iPledg able to facilitate investment in or financial rewards for project supporters for projects listed on iPledg?

No, that would not only contravene the project guidelines, but it would place the Project Creator in breach of the fund raising laws of Australia.

What is “all or nothing” funding?

This means that the pledges are only processed and passed to the Project Creator if the total funding target is reached within the specified time frame. Creators are not expected to develop their project without necessary funds, and it allows Project Creators to test concepts with minimal risk.

What is a funding campaign?

It is the initiative started by a Project Creator to raise a pre-determined amount of funds within a set period of time.

What is a funding target?

This is the amount of funds that the Project Creator nominates they wish to raise to fulfill their project objectives.

What is a funding deadline?

This is the date by which the project must be fully funded.

What is a funding timeframe?

It is the period of 30 days, 60 days, 90 days, or 120 days that a Project Creator nominates over which they will run their funding campaign.

Are rewards necessary?

No, you can have a ‘donation-only’ campaign. Rewards are recommended as they encourage people to pledge funds to your project. If the Project Creator is a registered charity with DGR (DeductibleGift Recipient) status, care must be taken to ensure that the rewards do not breach the current tax legislation.

Can a project be cancelled?

Yes – provided the cancellation is effected before the expiry of the funding deadline. The Project Creator simply emails us through the ‘contact us’ link with their request, and we will action it accordingly.

What is forbidden or discouraged on iPledg?

See the Terms and Conditions of use and our project guidelines.

Is my information secure?

There are some inherent risks associated with the transmission of information via the internet and with using encryption technologies. We take security seriously and we will endeavour to keep our Site as secure as reasonably possible but we take no responsibility for any breaches of that security and any direct or indirect impact to a User. Payment information is transmitted securely using Secure Sockets Layer (SSL) encryption technology and processed through a secure third party payment gateway (PCI DSS Compliant).

What happens with my information – who gets to see what?

The Project Creator receives the Project Supporter’s username and email address at the end of the funding campaign so that rewards can be delivered. All other details of the Project Supporter are kept by PayPal and/or our credit card payment gateway provider as per a normal internet payment transaction. Only the Project Creator’s name and email are public, unless they wish to divulge more in their Project Profile. The data that we collect from you may be stored at a location inside or outside Australia. It may also be processed by staff members operating either inside or outside Australia who work for us, PayPal or our credit card payment gateway provider. Such staff may be engaged in, among other things, the processing of your payment details. By submitting your personal data, you agree to this storing and/or processing. We will take such steps as we consider reasonably necessary to ensure that your data is treated securely.

Who is responsible for the delivery of the rewards?

The Project Creator is responsible for the delivery of rewards. iPledg takes no responsibility for this.

Who is responsible for ensuring the project goes ahead as planned?

The Project Creator is responsible for making sure the project goes ahead to the best of their ability. iPledg takes no responsibility for this.

What happens if the project passes its funding target?

If the funding target is reached and the funding timeframe is not over, the fund raising still continues. Project Creators are encouraged to outline in their project outline what they might do with any additional funds raised.

What happens if the funding target is reached before the deadline?

The funding campaign keeps going until the funding deadline and additional funds may be raised in excess of the funding target.

When are the pledges processed?

The pledges are only processed once the funding deadline has been reached and only if the funding target has been reached or exceeded.

If the project is successful, how and when do Project Creators receive their money?

The Project Creators receive their funds within 1 week of the funding deadline. PayPal processes the pledges and transfers the funds raised automatically, less any dis-honoured pledges, and less the fees charged by iPledg and PayPal. Payments made via credit card are processed by our payment gateway provider who then transfers the funds to iPledg. iPledg then transfers these funds (less fees)to the project creator’s designated bank account.

If the project doesn’t reach its funding target by the deadline, what happens?

Nothing. The pledges are not honoured, and the Project Creator gets nothing. No fees are charged by either PayPal, our credit card payment gateway provider or iPledg.

What happens if pledges are not honoured?

iPledg will contact the project supporter to ask them to address this, and they have 48 hours to make good any dishonored pledges. Should the pledge not be honoured after this time, the project creator only receives the total of honored pledges. Any project supporter who has had their pledge dishonored will not be eligible to receive their reward.

What are Project Updates?

These are for the Project Creator to post news and updates regarding their project or themselves. However the project funding target and funding deadline cannot be changed after it has been activated.

What is the comments tab for on each project?

The comments tab is for the Project Creator and the Project Supporters, as well as other parties to be able post comments in a transparent, public manner for all to read.

What is the funders tab for on each project?

This is simply a list of those who have supported the project by way of a pledge and the amount pledged.

Who gets notified at the end of the project deadline?

iPledg will notify the Project Creator during the funding campaign as 30%, 50% and 80% of the funding target is met, as well as when the total funding target has been reached. We also notify Project supporters of any dis-honoured pledges to give them a chance to resolve any issues.

Can anyone support a project?

Any adult with a valid PayPal account or valid credit card can support a project, please use the following link to open a PayPal account… https://www.paypal-australia.com.au/personal

Can a funding campaign raise more money than their funding target?

Sure, some projects get funded many times over, and we suggest Project Creators include in their project outline what they might do with the additional funds should the funding campaign raise more than the funding target.

How safe are iPledg’s payment gateways?

PayPal is a very credible payment gateway and offers Project Supporters a number of protections as detailed on their website www.paypal.com.au/au. Our credit card payment gateway provider is Stripe and is a well known and respected payment gateway.

I forgot my password – what do I do?

On the login page there is a link that says I forgot my password. Click on it and it will take you through the password recovery process.

How can I contact iPledg?

Feel free to email us at any time by clicking on the ‘contact us‘ link.

How do I plan out a project?

See our comprehensive Planning your Project guide.

How do I create a project?

See our Posting a Project guide for how to do it.

How do I work a funding campaign to its full potential?

Just follow our Getting the Best Results for Your Project outline, and you’ll see just how easy it is.

What are the rules about projects and using iPledg?

Please refer to the Terms and Conditions of use and our Project and User Guidelines.

How do I change my details and those of my project?

Simply sign into your account and make the necessary changes to your basic profile. For all other changes to your project you will need to send an email to the site administrator and request them to change the status of your project so that you can amend your project details, rewards, video or gallery pictures. Please note that you cannot change the funding target or funding deadline after your project has been activated.

Is there an iPledg widget I can embed on my webpage?

Yes. Go into your project, and click on the “badge” button for the script that you will need to copy and paste into your website. This will then take people from your website directly to your project on iPledg.

Who can create a project?

Any adult can create a project on iPledg provided it is lawful for them in their country of residence to enter into the Terms and Conditions of use.

Do I need a PayPal account to create a project?

Yes, you will need a verified PayPal account to create a project. Please use the following link to set up your PayPal account… https://www.paypal-australia.com.au/personal

Can I create a project from anywhere in the world?

Yes you can but provided it is lawful for you in your country of residence to enter into the Terms and Conditions of use and you are able to lawfully access PayPal.

What of my listing can I change after I go live?

After you go live, you can edit project description, video and pictures, rewards (add new ones and edit those not backed), your profile, and project FAQs but you will need to request the site administrator to change the status of your project to do this by sending them an email.

What of my listing can I not change after I go live?

After you go live, you cannot change the funding target or deadline, or rewards that have already been backed.

Can I put the project up a second time if I was unsuccessful the first time?

Yes. But we suggest that you consider why you fell short the first time and adapt your approach the second time around.

Who can help me with some of my technical questions – e.g. tax implications, social networking, etc?

Each person’s situation is different to the next and, as a result, things like tax implications will vary. Your accountant is the best person to give you financial advice relevant to your particular situation. Alternatively, if you need some guidance get in touch with one of the organisations on our Links page. They are specialists in their own fields of accounting, social networking, marketing, etc. and they are extremely supportive of iPledg Project Creators.

Can I make changes after the deadline has expired?

You cannot change anything after the deadline, but you can add comments under the updates tab.

Can I run more than one project at a time?

No. You can only run one project at a time on iPledg.

Is there an upper or lower limit on the funding targets?

There is no lower limit on funding targets but with the fees charged we recommend a lower limit of $500. Our research shows that crowd funding works best for projects of between $2000 and $30 000 and such research indicates there have been amounts considerably higher than this raised on other crowd funding sites.

Are the funding deadlines pre-defined?

No. When posting a project, Project Creators can nominate a funding timeframe of up to 120 days.

How do I protect my Intellectual Property?

Most intellectual efforts result in the creation of intellectual assets, some of which may be intellectual property (“IP”) such as copyright for artistic or literary works and patents for inventions. Some IP requires registration in order to exclude others from exploiting the IP. In many cases, applications for registration must be filed before use or publication of the IP. We therefore recommend that you contact an appropriate professional if you are concerned about unauthorised use of your IP as a result of you using iPledg. Some of these professionals may be found on our Links page.

If I am a registered charity, can I offer tax deductions to those who pledge?

Sure, if you have DGR status this would be encouraged. In your project outline, you should state if pledges will attract a tax deduction.

Are pledges tax deductible?

Only charities that have DGR status can offer tax deductability for pledges. In any other situation your accountant is the best person to give you tax advice relevant to your particular situation.

What are the fees involved with creating a project?

iPledg only charges a success fee of 5% on all funds raised, but only if you reach or exceed your Funding Target by the expiry of the Funding Deadline (if you don’t reach your Funding Target, you pay nothing). Paypal also charge a payment processing fee, which is currently 2.9% plus 30 cents per pledge. A processing fee for credit card transactions is also charged at 3.5% per transaction.

Must I have a video to go live?

No – it is best to have one when you go live, but you can add this later on if you want.

Can I add a video after I go live?

Yes – you can add and change videos at any time, refer FAQ above regarding changing the project description.

Can I embed videos from YouTube or Vimeo?

Yes. Simply copy the URL (website address of the video) into the “insert video clip” box.

Am I liable for income tax or Goods and Services Tax on monies raised on iPledg?

Each person’s situation is different to the next and, as a result, things like tax implications will vary. Your accountant is the best person to give you tax advice relevant to your particular situation.

Does the Project Creator give up any equity or profit share of their project?

No. Neither iPledg nor current legislation allow for it, and it is one of the real benefits of the iPledg system. This is a great way for Project Creators to raise funds for which project supporters do not expect equity or financial gain, just some cool or creative rewards.

Who can support a project?

Any adult with a valid PayPal account or credit card can support a project, you can use the following link to open a PayPal account… https://www.paypal-australia.com.au/personal

Why do people fund projects?

People fund projects because (1) they like the Project Creator, (2) are passionate about their project, cause,or industry, (3) they like the story, or (4) they really have a desire for one of the rewards on offer.

Do I have to have a PayPal account to fund a project?

No, you can use our credit card facility instead. If you want to use PayPal you can open a PayPal account using the following link…https://www.paypal-australia.com.au/personal

Can I fund a project from anywhere in the world?

Yes you can but provided it is lawful in your country of residence to enter into the Agreement (with the User) and you are able to lawfully access PayPal or use a credit card.

Is there a maximum or minimum amount that can be pledged?

The minimum amount that can be pledged is $2, with an upper limit of $2,500 on the size of pledges.

How do I make a pledge?

Find the project that you wish to consider supporting, investigate the Project Creator and the Project independently of iPledg and click on the”Pledge” button, then simply follow the prompts. For more detail about making a pledge, read our Pledging Support guidelines.

When is my pledge processed?

You will only be charged at the expiry of the Funding Deadline, and only if the Funding Target is reached or exceeded. If the Funding Target is not reached by the Funding Deadline, you will not be charged and your pledge simply dissolves. Project Supporters do not pay a single cent if the Funding Target is not reached.

Can I pledge anonymously?

Yes, after you click the pledge button there is an anonymous option at the bottom of the screen. Please bear in mind if you choose this option you are not able to receive any rewards.

Are details of my pledge made public?

No. Only your user name and amount pledged will appear under the project profile.

Do I get notified if the funding is successful?

Yes. You will be notified by the Project Creator when the funding campaign reaches its Funding Deadline.

Are all projects on iPledg “All or nothing” funding?

Yes.

Can I pay by cash or cheque?

No, payments can only be accepted by PayPal or credit card. You can open a PayPal account using the following link…https://www.paypal-australia.com.au/personal

Can I change the amount of my pledge?

If you want to increase your pledge you can simply pledge another amount. If you want to withdraw your pledge please contact us.

Can I change my choice of rewards?

You will have to arrange this directly with the Project Creator.

Can I cancel a pledge?

We would prefer if you didn’t, but if you really need to please contact us.

Is my pledge tax deductible?

Your accountant is the best person to give you tax advice relevant to your particular situation.

What happens if my pledge is declined?

If your pledge is declined when the funding deadline is reached, we will contact you to fix it up. If this is not fixed within 48 hours, your pledge is dishonored, and you will no longer be entitled to your reward.

How do I know a Project Creator is whom they claim to be?

Though iPledg does contact the project creator prior to making the campaign ‘live’, you need to satisfy yourself as to the identity or bona fides of the Project Creator, the Project’s feasibility, the Project Creator’s capacity to carry out the Project or provide any reward offered. It is your sole responsibility to satisfy yourself as to these matters and you should make your own inquiries and investigations as to the validity / legality of the Project Creator’s details. Your inquiries and investigations should be made by means in addition to the use of the iPledg platform. At the end of the day iPledg does not warrant the Projects or Project Creators, and you really need to rely on your own investigations.

How do I know a project is completed as promised?

The Project Creator is responsible for planning their project and making it clear to their supporters as to when the project will be completed. Sometimes reality dictates that projects run a little over time, and patience is requested here. In such cases Project Creators should post updates under the updates tab on their project to keep everyone abreast of their progress. Of course Project Supporters are at liberty to contact the Project Creator directly in relation to completion of the project or any other matter.

What if I have questions about a project?

Feel free to contact the Project Creator directly. You can do this through the comments tab on the project you have supported or plan to support. Project Creators may provide their direct email addresses and you can liaise with them directly, however, the comments section allows for open and transparent communication.

What is a reward?

A reward is a recognition of the Project Supporter’s support for the project. It is not intended to have a monetary value equal to the amount of the pledge.

When will my reward be delivered?

The Project Creator will, in their project description, be directed to advise their plan for the delivery timeframe for projects.

What do I do if my reward is late?

If the Project Creator is open and communicates reasons for a delay, then a bit of understanding and patience may be in order. If the information is not forthcoming to your satisfaction, feel free to send them a message if you have their email address or a more public message under the comments tab.

Can project supporters contact the Project Creator directly?

Sure. You can through the comments tab on the project you have supported or plan to support. Many Project Creators provide their direct email addresses and you can liaise with them directly, and this is a good way to exchange email addresses privately with supporters. However, the comments section allows for open and transparent communication.

What do I receive for supporting a campaign or project?

Apart from great satisfaction of having supported someone you know or a cause about which you feel passionate, you should receive a cool reward as laid out in the Project.

What do I do if I have any questions that aren’t covered here?

Simply email iPledg by clicking on the ‘contact us‘ links anywhere on this site.

Posted on March 4, 2015 By admin