Frequently Asked Questions
What are Kudos? Kudos are an essential part of every project. Kudos are rewards provided to supporters as a “thank you” for their financial contributions. They encourage support for the projects, and help create the link between projects, local residents, and local businesses that is essential for long term sustainability. Project Leaders may provide Kudos directly, as well as include Kudos from local businesses. Developing local sources for Kudos builds the social networks necessary for long-term community support.
Does Ahyayha use an all or nothing funding business model? An all or nothing funding model (what we call Threshold Funding) means that no funds will be provided to the Project Leader unless a minimum of 100% of the funding target is reached. Non-threshold Funding means that all net funds will be transferred to the Leader regardless of the Funding Target. Ahyayha staff works with each Leader to determine whether a Threshold or Non-threshold Funding Model will be best.
What happens if a Non-threshold Project fails to reach the minimum threshold for funding? It is ahyayha’s goal to completely fund every Project we promote. In cases where only a portion of the goal is reached during the fundraising period, we may extend the funding deadline. If the fund drive ends before the goal is reached, the funds collected, less fees and expenses, will still be distributed to the Project Leader.
What portion of the funds go to ahyayha? A portion of the total funds raised – 20% – is used to pay transaction fees, support the website, develop projects and marketing outreach, provide supporter contact services, and a host of other tasks. ahyayha’s overhead costs are far lower than that of other funding sources, and we’re committed to keeping those costs as low as possible. A full 80% of the funds raised go directly to Project Leaders.
Are Supporter’s Contributions Tax Deductible? Supporters’ contributions may be tax deductible if the Project Leader is a 501 c-3 organization. Projects providing the opportunity for tax deductible contributions will be highlighted on the project page.
What is ahyayha? Ahyayha, Inc. is a private stock “Benefit” corporation established in 2011. A Benefit Corporation’s stockholders are required to consider environmental and social in addition to financial “bottom lines.”
According to Virginia’s statute, a Benefit Corporation must create a “General Public Benefit” defined as
A material, positive impact on society and the environment, as measured by a third-party standard, through activities that promote a combination of specific public benefits. Relevant to ahyayha’s mission, this may include:
- Preserving or improving the environment.
- Advancing the arts, sciences, or the advancement of knowledge.
- Any other specific, additional benefit for society or the environment.