What fees does HaloBost charge? We do not charge any fees for boosting a project. Signing up for an account and launching a project on HaloBoost is also free. If your project is successfully funded then we and our payment processor, Stripe, collect our fees. Currently, our fee is 4.75% of the pledge (including shipping costs), and Stripe's fee is 2.9% of the pledge (including shipping costs) plus 0.30 cents per transaction. We will post a notice on our Site prior to any material changes in either of these fees. Updated fees will only be in effect for Projects launched after the posted change.
What is the Angel Round? The "Angel Round" is an additional 15 day period in which a Project Leader or Team can secure a loan or equity investment offline for any Project valued at $100,000 or more, to make up the difference between the funding goal and the pledges received. What if I am interested in making an equity investment? Should a project not reach its funding goal in time, the project will enter the Angel Round wherein the project creator has 15 days to find an investor(s) to finance the difference. If you are an accredited investor (as defined by the SEC) and interested in making an equity investment in a project, you are free to contact the project creator and let them know of your interest. However, all transactions of this nature must be conducted independently of HaloBoost, and HaloBoost accepts no fee or responsibility for the outcome of such transactions.
Do I have to choose a charity? Yes. Our charity sponsorship is an integral part of HaloBoost. We didn't want to create just another crowdfunding site. We wanted the power of project funding and charity funding to exist in one place. And besides, it feels really good being able to support the artists you are passionate about AND the causes they are passionate about. Can I give more than 5% to charity? The charity’s portion of a pledge is fixed at 5%. However, you are welcome to visit that charity’s site and make an enormous donation directly to them. Is my donation to the charity tax deductible? The initial 5% donation is tax deductible, and the charity will email you a receipt for your tax records. However, all royalty payments by the project to the charity are a tax deduction only for the project, as they are needed to offset the revenue that is reported to the IRS. What happens when a project is overfunded? The Project Creator drops to his knees and screams, “Hallelujah!” At least that’s what we’ve been told. In short, a project keeps all funds raised as long as it meets its funding goal. But since HaloBoost uses an All-or-Nothing funding model, most Project Creators seek the absolute minimum amount of money they will need to pull off the project. Therefore, any additional funds are greatly appreciated and will, in theory, result in a better end project. What do I do if I have questions about a project? Ask the Project Creator directly. Each Project Page contains a big, yellow “Ask a Question” button, located on the bottom, left hand side. Once you are logged in, you can send a message directly to the Project Creator and they can send a reply directly back to you.
How do I know when a gift will be delivered? When you choose your gift, there should be an “estimated delivery date” listed. If you have not received your gift within two weeks of that date, we suggest contacting the Project Creator. How will a Project Creator know where to deliver my gift? If your gift is something that requires delivery, the Project Creator will send you an email asking for your shipping address and any other information relevant to the gift (i.e. size, color, etc.)
What forms a payment do you accept? Payments are processed by our payment processor, Stripe. Stripe accepts all major credit cards (Visa, MasterCard, American Express and Discover). Can I pledge to a project if I do not live in the United States? Yes. You can pledge to a project from anywhere in the world as long as you use one of the four major credit cards (Visa, MasterCard, American Express and Discover). Is my payment secure? Yes. All transactions are initiated using SSL, an encrypted browser, and HaloBoost NEVER stores any credit card information. Instead, payments are handled directly by our payment processor, Stripe, which currently handles the processing needs of 8 of the 15 largest crowdfunding platforms. Stripe is a certified Level 1 PCI Compliant Service Provider (the highest level), and uses state-of-the-art cryptographic algorithms during data transmission (HTTPS with RSA 2048 bit key and SHA 256 certificate) and in their databases (AES 256 encryption with unique per-row keys). When will my credit card be charged? If the project successfully meets its funding goal in time, your credit card will be charged one to four days after the funding deadline has expired. So if a project sets a 30-day time frame, your card will be charged a few days after that. If the project does not meet its funding goal in time, it may enter the Angel Round. Should it then secure the rest of the funds within those 15-days, your credit card will be charged one to four days after that. If the project fails to meet its funding goal in time, and is unable to secure the remainder of the funds during its Angel Round, your credit will not be charged at all. Do I get notified when my credit card is charged? At the conclusion of a project’s campaign, you will receive a notification telling you if the project was successfully funded or not. If successfully funded, your credit card will be charged within the next few days. If not successfully funded, the project will enter the 15-day Angel Round. At the conclusion of the Angel Round, you will receive another notification letting you know if the project was able to complete its funding. If it was able to complete its funding, your credit card will be charged within a few days. Is my payment tax deductible? No. Your payment is only tax deductible if the project you are supporting is registered as a 501 (c)(3) non-profit. However, the 5% portion of your pledge that goes to charity is tax-deductible, and a tax receipt will be emailed to you by the Charity. Can I cancel a pledge? Yes. You have 48 hours to cancel your pledge from your profile page.
What information can others see on my profile page? When other users click on your name, they will be taken to your profile page where they can see your ACCOUNT NAME, DATE JOINED, ZIP CODE, the PROJECTS YOU HAVE BACKED and the PROJECTS YOU HAVE CREATED. What if I forget my password? Simply follow instructions to reset your password or send us an email, and we will help you reset your password. Can I sign in using Facebook or Twitter? Yes, you may sign in using both accounts. Many people choose this option as it eliminates the need to remember yet another password. What do I do if my payment is declined? Since there is a delay of anywhere from 1 to 45 days from when a pledge is made to when a credit card is processed, there is the very real possibility that some cards will expire within that time, resulting in the payment getting declined. If this happens, we will send you an email with instructions on how to provide us with new payment information so that your pledge may go through, and good fortune follow.
Can anyone post a project on HaloBoost? You must be at least 18 years old to use HaloBoost. Also, at this point in time, posting a project on HaloBoost is by invitation only. You can, however, email us and let us know about your project to consider. How do I start a project on HaloBoost? You will receive a code from us, sign up, and then fill out the campaign page questions and design your campaign page. You will have our team to help you every step of the way, because we want you to feel confident, and we want your campaign to be a success. How long is a campaign? Campaigns run for 30 or 31 days. If you qualify for the Angel Round and your project funding goal is not met within the 30 or 31 days, you will enter another 15 day period for investor funding.
Will I have access to the Angel Round? The Angel Round is used for Projects that have a goal of $100,000 or more. If that goal is not met, they receive another 15 days to secure a loan or equity investment offline, so that all pledges can be received (as per the All or Nothing model).
When does the Project Leader receive the pledged funds? Once the project campaign has ended and the funding goal has been reached or surpassed, Booster's credit cards will be charged. Within five days collected funds will show in the Project Leader's Stripe account, minus the amounts for HaloBoost fee, Stripe fee and Charity donations.
Does each charity receive the same amount? No. When the Booster makes a pledge to the campaign, they also choose which one of the five charities to support. At campaign end, the Boosters choices are tallied and turned into percentages. Each charity will therefore receive their share of the Boosters choices. For example, Charity #1 - 23%, Charity #2 - 16%, Charity #3 -19%, Charity #4 - 33% and Charity #5 - 9%.What if a project does not reach its funding goal? If the Project does not reach its funding goal, no pledges are collected (as per our All or Nothing model), and no donations will be made to the charities. Do we receive a portion of the Angel Round? No. The Angel Round is not based on Boosters' pledges, and is garnered outside the HaloBoost system.
What information on Boosters do we receive? You will see their name, their email address, the project they boosted and how much of their boost was donated to you. Are we allowed to contact them outside of HaloBoost? We will let you know. When they are choosing a charity to donate to, there is a box they can check that indicates they would like direct communication from you. Are we required to send them a tax receipt? Yes, by email.
What type of commitment is needed from us? The more money the project raises, the higher the donation. Use your following to bring awareness to the project campaign. More pledges for them, more donations and new donors for you!