A personal friend and professional colleague, J Money, has partnered with Nate from ItStartsWith.Us to start a new way to give to those in need: Love Drop (http://lovedrop.org/). I haven’t had a personal conversation with J about it, but from the site and video, it looks like it’s going to be a hit.
Here’s the deal: You subscribe via Paypal for any amount (you get billed for a yearly amount to make accounting easier on both sides). For example, give $1 a month, get billed $12, and so on. Depending on your donation level, you get different levels of access to the Love Drop community.
What happens with your donations?
Think of Love Drop as “planned random acts of kindness to strangers” (my own words). Basically, people will submit their needs, or members suggest those in need, and J and Nate do the leg work to determine both the truth in need and the best way to fulfill that need. Your donated money, of course, will be used for fulfilling those needs.
Now, the question about whether your funds are tax-deductible. No, they are not. This is not a registered non-profit, and Nate says as such in the video. The downside to not being a non-profit is that Love Drop has to pay taxes and Paypal fees on each transaction. So, after taxes and Paypal fees, Love Drop will donate 50% to immediate needs, while the other 50% helps the organization grow further. And no, that doesn’t mean the money goes into their pockets as profits. It will go to things like advertising, site maintenance and other business expenses.
First of all, AWESOME IDEA! Second, I hope it really takes off because not only do I love watching (and participating in) acts of kindness, but also because I personally know J Money is on a mission to give back to the community and to the world.
The only downsides I see are two: 1) It’s a daunting task to decide who gets the help (and it’s not just going to be $$. It might be $$ and manpower). Imagine getting just a handfull of requests for assistance, but you can only help one. Now multiply that by probably 1000 or more. I worry this endeavor will grow faster than Love Drop can keep up, but I have faith in them. 2) Until Love Drop can register themselves as a non-profit, a big chunk of donations is kept from helping the needy. Hopefully they can get approved as a non-profit soon!
So, consider joining as a member of Love Drop at any level. You can find enough spare change in your bank account for a starter subscription, and maybe a few will make the leap and become “VIPs”.
Good luck J and Nate!
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