How is freedomfy legally organized?
freedomfy is owned and operated by Independence Institute, a Denver, Colorado based not-for-profit law and policy “action tank.” The mission of Independence Institute is to empower individuals and to educate citizens, legislators and opinion makers about public policies that enhance personal and economic freedom. Independence Institute developed freedomfy to offer the freedom movement a safe online community to connect activists, organizations and political candidates with like-minded financial donors. You can learn more about Independence Institute here.
Is freedomfy affiliated with any political party?
freedomfy is not owned, controlled or managed by any political party, nor is it a political committee or candidate committee. We believe members of the freedom movement come from all political parties – or from no partisan affiliation at all.
Can candidates for all political offices raise funds on freedomfy?
Due to various state election laws, freedomfy requires that candidates raising funds on its platform be declared candidates for office. In other words, we do not allow exploratory committees or potential candidates exploring a run for office to raise funds on freedomfy. Presently, freedomfy is designed for grassroots-level candidates seeking state or local office and is not able to support candidates seeking federal office.
Are my donations tax-deductible?
Unfortunately, donations to individuals, political candidates, 527’s and 501(c)(4)’s are not tax-deductible. Only donations to 501(c)(3) organizations are deductible for federal income tax purposes but such donations cannot be used for political purposes.
How are donations processed and what fees do you charge?
freedomfy’s payment processor processes donations daily and remits funds to campaigns daily. freedomfy deducts 6% plus a 30-cent merchant transaction fee from each donation and remits the net proceeds to the donation recipient. Roughly half of our fee goes to cover credit card processing expenses with the remainder helping us maintain the website, serve our members and grow the freedomfy community. freedomfy does not charge donors any fees.
How do you handle payments to conditional campaigns (campaigns that must hit their financial goal before collecting pledges)?
If you make a pledge to a conditional campaign, freedomfy pre-authorizes your payment method, but does not charge you until the campaign’s financial goal is reached. If the conditional campaign expires without reaching its financial goal, you are never charged and the pre-authorization is removed.
What forms of payment do you accept?
All campaigns on freedomfy accept all major credit cards. Look for Bitcoin as an accepted payment method soon.
Is there a minimum donation?
No, freedomfy accepts donations of all sizes.
What is your approval process for approving newly created campaigns?
Creators of campaigns build a draft of their campaign and once they are ready to publish it on freedomfy, they submit their campaign for review. The campaign submission triggers a manual review by a member of the freedomfy team. Most campaigns are approved quickly and without issue, but occasionally freedomfy must contact a campaign creator to request changes before we can publish the campaign.
Will the campaigns know who is contributing?
Yes, every donation to a candidate, organization or project is distributed to the campaign along with the donor information.
How is freedomfy different from other crowdfunding platforms?
We are the only crowdfunding safe-space for the entire freedom movement. We can accommodate candidates, causes, and organizations. And freedomfy is more cost-effective because of our lower fee structure and our appeal to those who are like-minded and therefore more likely to fund your campaign. That’s freedom, amplified.
What can I raise money for?
We envision most freedom fighters will use freedomfy to raise money for projects, causes, candidates, and organizations about which they are passionate. It could be for themselves or for others. But the campaign is really up to you. This is your opportunity to be creative!
We anticipate that our freedom-loving community will come up with brand new ideas and projects to raise money online through freedomfy.
Who will invest in my campaign?
Initially your campaign is likely to be supported by the people in your life – those who know and trust you. Once you’ve gained attention from your personal network, you will attract others. freedomfy will also share with our trusted network so that your campaign is “amplified.” That’s how freedomfy works.
Should I share through social media?
freedomfy strongly encourages sharing with your social media network. That’s the most cost-effective way to amplify your campaigns. We make it easy by providing Facebook and Twitter plug-in tools. In addition, freedomfy will share your campaign with our social media network. That’s freedom, amplified.
What makes for a successful campaign?
Amplifying. Sharing your campaign with your social media network is the single most important thing you can do to be successful. Other suggestions: upload a quick video or a high-resolution photograph and be very clear about why you are raising money. If you are passionate and inspiring about your project and why you are raising money, liberty lovers who want to fund freedom are likely to be attracted to your project.
Can I raise money for whatever I want?
Darn near. freedomfy reviews all projects. Along with creativity and inspiration, we encourage using common-sense when creating your project. Also, your project must be legal. In other words, don’t break any laws.
Is freedomfy only for non-profits?
Nope. Anyone or organization can raise money through freedomfy.
Does freedomfy have a mobile app?
Not yet. But it’s coming.
What is Stripe and why do we use it?
Stripe is freedomfy’s payment processor. Based in the United States, Stripe offers its customers the latest integrated payment processing technology at competitive rates. Stripe’s competitive processing fees help keep freedomfy’s costs low, savings we pass along to you. Most importantly, working with Stripe enables you to receive your money faster. When someone contributes to you through freedomfy, Stripe deducts the freedomfy fee and sends your portion to you directly – freedomfy never handles your money. In most cases, you will receive your money from Stripe in 2-4 business days.