Boosted FAQs


General

What is 'All or nothing'?

We refer to Boosted in the crowdfunding world as an 'all or nothing' model. If you don't hit 100% of your funding by your closing date, all funds that have been received are automatically returned to your donors. There will be no fees attached to this for you OR the people that have donated to your campaign. Phew!

Why doesn't Boosted have rewards?

Some crowd funding websites require projects to offer "rewards" to people that contribute to their projects. For example a T-shirt or postcard in return for different levels of donations. This is not an option on Boosted as Boosted is a donation based crowdfunding platform.

Rewards can be a real distraction for artists and there are numerous examples of artists underestimating the cost of rewards and the time to send them. Imagine dealing with 200+ donors!  Think of the cost of time and admin, as well as the postage and handling.

Boosted is run by the Arts Foundation, which is a charitable trust. When a donor makes a donation to a project, they are legally making this donation to the Arts Foundation for us to grant to you when you are successful. As a result of this, all donations qualify for a 33% tax credit.

Eg. A $100 donation from Joe qualifies for a $33 (33%) tax credit that Joe can claim from Inland Revenue.

It is a legal requirement that donations are given with no entitlement or goods or service in return. If "rewards" are offered as incentives to donate then it is no longer a donation.

We also know for a fact, that your crowd donates because they love you! And they support you because they have a connection to you. We have the highest average success rate of any platform we know globally at 80%, so we know rewards are not a deal breaker for your crowd. Love runs deeper.

How do I talk to someone at Boosted about my project?

Call us. Email us. Facebook us.  There are real people, ready and willing to help. It's far better having the conversation early to nut things out, so you can get all your ducks in a row and plan for a great campaign.

Call us 04 382 7910 or email admin@boosted.org.nz . We can also be contacted on facebook, twitter, or skype.

 

Donating

Is donating on Boosted safe?

Yes. 

Payment Express, our payment gateway provider, have a dedicated and purpose built development and data center, specially designed for processing payments.  They have invested and continue to re-invest in state of the art, bank-grade security and infrastructure, and are fully certified as Visa AIS and MasterCard SDP (PCI DSS) compliant at processor level. All sensitive information is encrypted with the 3DES protocol, using financial Hardware Security Modules.

Ok, so what does this actually mean in normal language.  Boosted NEVER see and NEVER store your credit card details.

Check out our Privacy Policy here for more details.

Why does the money exit my account as soon as I have donated?

Some other crowdfunding platforms only deduct the amount when a project is complete and successful. We take the money at the time of donation so we do not have to store and protect your credit card details. This also means that the dollar amount shown on the campaign is always a true reflection of the exact, full transaction amount available to the project owner at the time.

When other crowdfunding platforms wait until the end of the project to transact your donation there is a 3-7% fail to transact rate for expired, cancelled or maxed out credit cards! You can imagine the disappointment and confusion this can cause when you thought you reached your target and then you figured out you actually haven't.

Why do donors need to create a profile?

It's really important that we have the right details for you, so we can let you know your card has transacted successfully, receipt your donation and legally refund you if a project is unsuccessful.

Why does Boosted need my email address?

To send you a receipt we need your email address.

All donations to Boosted qualify for a 33% tax credit from the NZ Tax man. To claim a tax credit Donors need a receipt. To send you a receipt we need your email address.

It is our promise to you that we will not use your email to bug and spam you. You are generous and wonderful and we like you. There is no further correspondence from us or the project unless you choose to opt-in to receive updates. Your information is never shared with third parties. You are totally in the driving seat.

Can Boosted accept international credit cards?

Well yes we can. All amounts shown on the site are in NZ dollars but you can donate with international credit cards. Remember, the donation is taken from the credit card at the time of the transaction. If the project doesn't pass 100% the donation is returned to your credit card in NZ dollars again. There may be some difference due to currency fluctuation, but there is no extra charge from Boosted for donating in a currency other than NZ dollars.

Can Boosted accept bank deposits or cheques?

Let's talk. In some cases we definitely can.

Give us a call to talk this through 04 382 7910 or admin@boosted.org.nz

When do I get a receipt?

The day after a successful project is closed all donors will be receipted via email.

What happens to my donation if the project is unsuccessful?

Your donation will be returned with NO fees or transaction costs charged to you. We return donations within 8 working days of the project closing.

 

Creating a Project

Who can list a project?

Any arts project can be listed on Boosted, as long as it benefits New Zealand or New Zealanders in some way.

When/what time does my project end?

Projects finish at midnight on the day that you want your project to close. We'll help you choose the best closing date based on what fits for you and your crowd. You will see an hours countdown in your final three days.

Can I give thank you gifts to donors?

Yes you can surprise your donors with gifts, like tickets to the show or the album. However, there can be no expectation created of a thank you gift when donating (See 'Why doesn't Boosted have rewards?' above). 

Can projects raise more money than their financial goal?

They can and do.  Boosted requires that any extra funds raised go to the project, so we will be in touch to make sure the extra money is going towards what the donors think it is going towards. If you reach your target it is best practice to publish on your project page what any extra funds raised will go towards. 

It is good to note that the 10% fee on successful projects is taken from the total funds raised and not the target set.

Eg. Your project target was $6000 and you exceeded that, reaching $9,000. Your fee would be $900.

How much does it cost?

When you reach your goal there is a flat 10% commission fee on the total money raised.  There are no extra credit card handling fees, no hidden charges to your crowd and no other costs.

What does Boosted as an organization do with the 10% of the donations we retain?

10% of the donations help us cover all credit card transaction costs, handling fees, the cost of running our platform, the time we spend 1:1 with you, our Boosted School of Crowdfunding programmes and everything in between.

How long does it take to grant money to a project?

Once you have submitted your project invoice payment will be made within three weeks, though this can be as quick as 3 days. Because the Arts Foundation is a charity, payments are a manual two signature process that get scheduled in advance. 

What if I am GST registered?

Perfect!  You can add GST on top of your grant amount. If your project raised $1,000, we grant you $900 then add GST of 15% so that the total amount you receive is $1035.This means that you have the full purchasing power of the $900 raised. This GST payment is unique to Boosted. If you are GST registered and are considering using another crowdfunding website, please check the GST implications first. 

Does Boosted own a % of products or ideas developed through Boosted?

No! We are a crowdfunding, transaction platform. We are here for artists and people associated with art to fund amazing work, build networks and learn a whole lot of new skills.

Will Boosted provide donors for my project?

We help you bring your crowd to your project. Thanks to the knowledge and experience that we have picked up through our work at/with The Arts Foundation, we can help you connect with supporters and give you tips to help you grow your own community.

Don't forget to check out our toolkit.