Frequently Asked Questions

If you can't find your answer here, feel free to contact us for assistance

What is DOLLARgifts?

DOLLARgifts provides a crowdfunding platform specifically targeted as the perfect

online vehicle for family, friends, teachers, mentors, co-workers, neighbors & complete strangers to donate monetary gifts, in exchange for the satisfaction of investing in your project. Funding for campaigns require no fee or complicated application process. All that is needed is the desire to succeed and the ability to tell your story in a way that will inspire others to invest in making your campaign a reality.

Who is Eligible to Start a Campaign?

To be eligible to post a DOLLARgifts campaign you must meet the following requirements:

How Do I Create My DOLLARgifts Campaign?

It is easy and free to create your campaign. Simply tell your story by introducing yourself and your background, briefly describe your need, establish your funding goal. Include a picture and short bio; a video can be very helpful. Make sure you share your DOLLARGifts Campaign with family and relatives, friends, co-workers and neighbors, as well as with those businesses and professionals you or your family patronize such as your doctor, lawyer, dentist, hairdresser, barber, auto mechanic, plumber etc. Bottom line - share with everyone!

Is There a Cost to the Campaigner to Start a Campaign?

There is no fee to post a DOLLARgifts Campaign. DOLLARgifts utilizes a flexible funding formula. If you reach your funding goal, you will receive all of the funds raised, minus a 5% administrative service fee which will be retained by DOLLARgifts. If you do not reach your goal, the service fee is 8%, but you get to keep all of the funds you have raised from your donors. There is a separate service charge connected with the Stripe payment processing system.

Do I Need a Stripe Account to Create a Scholar Campaign?

Yes, to receive funds you will need a Stripe account. It is free to set up and very straightforward. It will generally take up to a couple of days for a new Stripe account to be verified, so please schedule that into your planning. The verification process generally entails Stripe making two small deposits into your bank account, which you verify receipt of. That way Stripe will know that the deposits it will make into your account from your donors will actually reach you.

What is the Funding Goal and Campaign Deadline?

You are required to set a specific funding goal for your Campaign and a time limit to meet this goal. Campaigns cannot be set to last longer than 60 days. The Campaign deadline is the last date by which donors can contribute financial gifts toward your funding goal. Studies have shown that campaigns that end in 30 days have the best chance of success.

Can You Raise More Funds Than Your Stated Goal?

Yes, absolutely. Campaigns can accumulate gifts right up to the deadline date. So even if you reach your target funding goal, don't stop spreading the word!

What Media Options are Available in Creating a Campaign?

You may use videos/images/audio from any of the following sites:

blip.tv

flickr

photobucket

viddler

vimeo

youtube

Are All Campaigns Approved?

DOLLARgifts reviews each campaign request to make sure they fit within our submission guidelines. If they do not, they will not be approved. We do not edit or modify any Campaign. We want as many people as possible to have the opportunity to raise monies online for their funding needs.

What Are Campaign Updates?

Campaigners communicate with Donors via Campaign Updates to keep them informed on the progress of the campaign. Campaign updates are automatically emailed from the website. Campaigners have the option of sending updates to all Donors or to a specific grouping of Donor.

Can a Campaigner Edit a Campaign After it Has Been Posted?

Yes, you can edit your campaign after it starts, except for the Title, Funding Goal, Time Frame or Start Date. You can also change your photo or video.

Is There a Cost to the Donor to Gift Funds to a Campaigner?

There is no cost to send financial gifts to a Campaign, other than the payment processor's credit card/bank processing fee, which is 2.9% plus 30 cents if paying by credit card, or 1% plus 30 cents if paying through bank account.

The Campaigner will receive all donations raised, minus the DOLLARgifts administrative fee, which is 5% if the campaign goal is reached, or 8% if the goal is not reached.

What Payment Methods Do You Accept to Support a Campaign?

We now use the Stripe payment gateway to process all payments. Stripe allows the use of all major credit cards, as well as the option to pay via your bank account. Stripe's pricing structure to the donor is as follows:

2.9% plus 30 cents if paying by credit card, or 1% plus 30 cents if paying through bank account. There is a more detailed verification process for those paying through bank account)

Are My Financial Gifts Tax Deductible?

Generally speaking, financial gifts for campaigns on DOLLARgifts are not tax-deductible. If the Campaign is posted by an organization that has a 501C3 status, there is a possibility that donations to that Campaign may be tax-deductible. The possible tax deductibility of any gift/donation will be between the Campaigner and the Donor, and your tax consultant. DOLLARgifts makes no representation regarding the tax deductibility of any gift/donation on its platform.

What is DOLLARgifts Funding Formula?

DOLLARgifts utilizes a flexible funding formula. If you reach your funding goal, you will receive all of the funds you have raised, minus a 5% administrative fee which will be retained by DOLLARgifts. If you do not reach your goal, the fee is 8%, but you get to keep the rest of the funds you raised from your donors. The DOLLARgifts administrative fee covers costs associated with developing, maintaining and hosting the DOLLARgifts website. There is a separate processing charge to the donor of 2.9% plus 30 cents that is automatically deducted by Stripe if your donor uses a credit card, or 1% plus 30 cents if they use a bank payment. DOLLARgifts does not control the Stripe processing fee.


FOR CAMPAIGNER:

REACH or EXCEED YOUR GOAL 5% processing fee

DO NOT REACH YOUR GOAL 8% processing fee

______________________________________________

FOR DONOR:

IF PAY BY CREDIT CARD 2.9% plus 30 cents fee

IF USE BANK PAYMENT 1% plus 30 cents fee (using bank payment requires a more detailed verification process

When Does the Campaigner Begin Collecting the Payments?

Payment donations are automatically transferred to the Campaigner's bank account at the conclusion of the Campaign, minus the DOLLARgifts administrative fee. If a donor's payment fails to process, it will not be transferred.

Can Multiple People Develop One Campaign?

Yes, if it makes sense in the context of your DOLLARgifts Campaign. For example, if the funding campaign is for a class trip, it makes sense for that campaign to involve multiple students. Multiple people participating in a campaign as a group can multiply the amount of financial gifts that may be received.

Can I Run More Than One Campaign at the Same Time?

Yes, but we do not recommend running more than one campaign at the same time. It may become confusing to your donors and more difficult to manage. Moreover, you cannot create more than five campaigns in a 365 day period.

Can I Cancel My Account?

You can cancel your DOLLARgifts Campaign as long as funds have not been raised. If any money has been raised your account must stay active until the ending date of your campaign. Contact support@scholargifts.com to cancel your account or campaign.

What is CrowdFunding?

Crowdfunding is a type of online fundraising where people create leverage by pooling their money to support the efforts of others. With DOLLARgifts, there is a "crowd" of people interested in a Campaign who will invest in the Campaign by gifting donations.

Who Do I Contact With Questions?

If you have questions about a particular Campaign, contact the Campaigner directly by clicking the "Contact Me" button on the Campaign page. If you have a question about Stripe, contact Stripe directly.

What is the Funding Goal and Campaign Deadline?

You are required to set a specific funding goal for your Campaign and a time limit to meet this goal. Campaigns cannot be set to last longer than 60 days. The Campaign deadline is the last date by which donors can contribute financial gifts toward your funding goal. Studies have shown that campaigns that end in 30 days have the best chance of success.

What Are Campaign Updates?

Campaigners communicate with Donors via Campaign Updates to keep them informed on the progress of the campaign. Campaign updates are automatically emailed from the website.