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What is CoverrMe?
CoverrMe is a crowdfunding platform that allows people to raise money for personal causes.
How does it work?
Anyone with an idea or cause can start a fundraising campaign on CoverrMe. It is very simple to start a new campaign: in less than 5 minutes you can get one set up! Once your campaign is up and running, you're ready to go. Start fundraising by simply sharing your campaign on Social Media and emailing your friends and family. More details can be found here.
What kinds of campaigns can be listed on CoverrMe?
Any type of campaign is welcome, as long as it does not promote any of the bad stuff (such as violence, discrimination or hatred in any form). People typically raise money for honeymoons, medical expenses, travel, animals & pets and entrepreneurship.
Who can contribute to CoverrMe campaigns?
Anyone around the world with a credit card can contribute to CoverrMe campaigns. Typically, the majority of contributions can be expected from your direct family and friends, colleagues and friends of friends.
Are my contributions safe?
CoverrMe outsources all payment processing to WePay, a safe and secure platform for online transactions. CoverrMe never has access to your credit card information.
What are the fees?
Unlike our competitors, CoverrMe charges no fees (0%) for use of the platform (or donations). However, there are still credit card fees (2.9% + $0.30 per donation, like other platforms), which will be automatically deducted from contributions.
Who can start a CoverrMe campaign?
Anyone with a bank account in the United States can start a campaign on CoverrMe.
How will I receive the money I raised?
When people contribute to your campaign, you will get notified immediately and the money is transferred into your WePay account. You can set WePay to automatically transfer the funds to your bank account on a weekly basis.
How can I update my Funders about the campaign?
During and after the fundraising process, you can send updates to the Funders through the campaign management page on the CoverrMe platform. Find the campaign under 'My Campaigns' in your dashboard and scroll down to the Updates section. Your Funders will receive an email with a notification of the new update.
What do I need to do to start a campaign?
It's simple: you need to complete four simple steps in the CoverrMe Gateway. Choose your fundraising goal, a fundraising image, a name for your campaign and write a project description. It is highly recommended to include images in your description. You also must link a WePay payments account to the project. Click here to get started.
Do I need to provide rewards?
Rewards are optional, but recommended. They can incentivize contributions, especially for those outside of your direct community.
Do I need to reach my fundraising goal to receive the funds?
No. All contributed funds will be directly transferred to your account, regardless of whether the fundraising goal is met.
Is there a deadline on my campaign?
No, there are no deadlines on CoverrMe campaigns. You can raise money at your own pace.
Contributions to campaigns initiated by non-profits can be tax deductible. Each Funder's tax situation is different, and a certified tax professional should be consulted regarding these matters.
What is the minimum contribution to campaigns?
The minimum contribution (one Circle) is $10.
When will rewards be distributed?
Timing will vary by project and it is up to the campaign initiator to manage the distribution. Follow the project updates for more information. Remember to update your current address in your CoverrMe profile to ensure delivery of rewards by mail.
How long is the fundraising period?
CoverrMe campaigns do not have a fundraising deadline.
Reward vs. Investment Crowdfunding?
Projects listed on CoverrMe are not required to offer rewards, though many will do so for various levels of contribution. Rewards can come in a variety of forms, such as printed t-shirts, postcards or gift certificates. The Funders receive no equity in the project or listing organization. The contributions are donations, not investments.