The answers to all your burning questions! If we missed any, give us a shout. We are constantly updating this to make sure we’re transparent as possible.
Why did you create Love Drop?
Because we want to let everyone know they can help change the world! And we love how easily this can be done by creating a community both online AND off – all coming together to directly impact one family’s life every month. This is our unified way to give back.
How will the webisodes work?
Every month we’ll start out with an intro video of the family we’re helping that month. Week by week, we’ll release more of their story and how they’re working through their troubles. We’ll put up more videos, blog posts, pictures or whatever else will best tell their story and show what wonderful people these recipients truly are.
Is Love Drop a charity?
No. Love Drop is not a 501(c)3 entity. By IRS tax-code, a not-for-profit organization must benefit a group of individuals or society at large and cannot be created for the purpose of benefiting one person or family as Love Drop is structured. Because of this, we cannot legally be formed as a charity – think of us as a sustainable company in the business of doing good.
Where does my money go?
When you sign up for Love Drop, you’re getting a monthly subscription to our online (and offline) community, the ability to suggest a family who needs help, login credentials to a private online network, and access to a bunch of extras and behind-the-scenes footage surrounding our monthly drops. Every member gets the same benefits, and you pay whatever you think it’s worth, starting as little as $1/month.
Every dollar from our team members gets divided like so: 60% straight to the recipient, and 40% to running Love Drop (video production, marketing, travel, legal services, taxes, web maintenance, etc.). As we continue to grow, we will keep adjusting these ratios so that we give more and more to our families each month. In the first quarter of 2011, we’ve already increased it by 10%!
Are my contributions tax-deductible?
No. Since we are not a charity (please refer to question #3), your contributions cannot be deducted from your taxes at the end of the year. They are not donations, rather paid memberships. Make sure to consult an accountant for more information.
How do I nominate someone for a Love Drop?
Easily! If you’re a Love Drop member, all you have to do is fill out this form letting us know about your nominee’s situation, and we’ll consider them for our next (and future) Drops. We continually review all nominations, and each month we choose the person or family we think our community can help the most. If you know of anyone with a good heart going through a pretty tough financial time right now, let us know! Just remember that you have to be a member to submit.
Is Love Drop U.S.- based only?
We welcome team members from all over the world, just as we do with our other projects. For logistical reasons, the first year of Drops will probably be focused in the United States and Canada only – it gets expensive to fly a crew over to the UK! However, our two-year goal is to expand globally and really make this a worldwide project. We meant it when we said change the world.
What’s up with J. Money’s name?
J. blogs under a pseudonym over at his personal finance blog in order to be as transparent with his finances as possible. He’s found that opening up his entire financial snapshot for all the world to see really helps create honest conversations about money.
Can I make a one-time payment?
Absolutely. You can become a member by paying any amount of money you’d like, and it will be applied to that month’s Drop (the money collected from the 1st of the month, to the last day of the month, all goes toward that month’s recipient). You can give as many times, or as many months, as you wish. All you have to do is send the payment directly to our PayPal address: n/a, or through our trusted partner Giving Anonymously. You can also mail us a check made payable to: n/a. Just be sure to send over your name and email address so we can give you access to the community!
I have no money, can I still help?
Of course you can! We are always appreciative of anyone who can spread the word on what we’re doing. The more people supporting our community, the bigger the difference we can make in each family’s lives! Here are a few ways you can help:
- Tell your friends and family!
- Offer some goods or services (home goods, gift cards, accounting help, etc.)
- Join our Street Team (We’ll email you when we’re looking for marketing help! Online, and off)
- Join our Blogger Network! (This is a great way to spread the news on who we’re helping every month. These bloggers post an article, or video that we provide, once a month telling the story on who we’re coming together for. It’s super easy, and it’s super helpful.)
Are you guys writing this while in your pajamas?
Yes, because you can change the world in your pajamas too!
