Frequently Asked Questions
What is Crowdfunding?
Crowdfunding connects social entrepreneurs with regular people who want to help make their startup/idea/invention a success. I will be launching my startup campaign on the online crowdfunding platform Start Some Good.
- Funds pledged to my SMAC! campaign on the Start Some Good platform are used to launch my startup – the SMAC! Sock Monkeys Against Cancer product line (additional information on what SMAC! is and its mission is below).
- I have one month to raise approximately $35,000 to launch the SMAC! monkey product line (November 1-30).
How do I make a pledge?
Supporters need to pledge on my campaign page on the Start Some Good crowdfunding platform via PayPal.
Don’t have a PayPal account? No problem. You can easily and safely set one up at Paypal.com.
Writing checks: It’s best to pledge online to keep the campaign momentum going and to get the rewards, however, some people are simply check-writers. I have a solution for that as well.
You can write checks to the following:
Gothenburg State Bank
Leslie Lehrman SMAC! Memorial Fund
P.O. Box 81
Gothenburg, NE 69138
Please add a sticky note: “To be deposited into account # 944041”
Those who write a checks are, unfortunately, not eligible for campaign rewards, but you will still help send SMAC! monkeys to cancer patients at the Nebraska Medical Center.
If I pledge, am I an investor in the company?
No, you are are not an investor in the company, but you will receive some sweet rewards. In crowdfunding campaigns, each campaign creates its own levels of pledging support and rewards associated with each.
Is my financial support tax deductible?
No, your support is not tax deductible. However you will get some amazing rewards, and, even better, the great feeling that you’ve helped me help others SMAC! cancer.
You said you need $35,000 to successfully launch the SMAC! product line. Where does this number come from?
First of all, I am big on accountability. Please know I will be open, honest and forthcoming about where your SMAC! dollars go throughout the startup process and beyond.
Each campaign has a tipping-point goal as well as a total fundraising goal.
The tipping point is the amount necessary to actually get the project off the ground.
Once the tipping point has been reached, funds are applied to reaching the total fundraising goal which is a “keep what you raise” model.
My Tipping Point Goal
My tipping point goal is $27,000. This goal will cover the production, packaging and shipping of approximately 500 SMAC! monkeys, as well as costs incurred and many start up costs (entire list below).
My Total Fundraising Goal
My total fundraising goal is $35,000. This goal will enable me to produce, package and ship the second batch of SMAC! monkeys, approximately 1,000, as well as cover e-commerce, intellectual property, business planning, continued website development and other costs (entire list below).
Costs the Tipping Point Funds Would Cover
Tipping point funds will cover costs incurred, such as SMAC! monkey pattern/prototype creation and labor; manufacturer sample(s) development; manufacturer and importer production, shipping, safety inspection, packaging; fulfillment services and initial set-up charges; e-commerce platform services and initial set-up charges; payment gateway and merchant services accounts; logo, website development and domain, toy insurance; basic trademark and copyright protection, and purchase of two UPC codes.
Costs the Total Campaign Funds Would Cover
Funds beyond the tipping point will go towards the following the costs: Continued manufacturing and importer production, shipping, safety inspection and packaging; fulfillment services monthly fee; e-commerce platform services monthly fee; payment gateway and merchant services monthly fee, increased intellectual property protection, business organization and financial operational planning strategy; continued website development
So what happens if a campaign I support reaches its tipping point?
Yay! Time to celebrate. As soon as the campaign deadline has passed, the amount of support you have pledged the campaign will be officially charged to your credit card.
What happens if a campaign I support fails to reach its tipping point?
Your card will not be charged and no money will change hands.
How do I get my rewards?
I will receive a list of email addresses of each supporter and will reach out to you to make arrangements to fulfill the rewards I have promised.
Manufacturing and safety
SMAC! is working with Gann Memorials, LLC out of Raleigh, North Carolina to produce and import the SMAC! monkeys. Gann works with factories in China to manufacture the products. More about Gann Memorials can be found at http://www.gannmemorials.com/faqs/.
Do the SMAC! monkeys meet safety requirements?
Yes. Gann Memorials, LLC, the company through which the SMAC! monkeys are manufactured, tests the monkeys at its factory to meet all general U.S. and European safety standards. More information can be found at http://www.gannmemorials.com/toy-safety-law/.
Can I be assured that the factory/factories don’t use child labor or operate under harsh working conditions?
Gann Memorial, LLC ensures its employees are treated well and work in good conditions. Here are a couple of photos Gann has posted:http://www.gannmemorials.com/faqs/