Crowdfunding For Buggy Whips

Will the crowd support any idea?

Like buggy whips, video stores have been relegated to the dustbin of history, and yet, one in Florida is crowdfunding so you can still have access to “Song of the South, Krampus, Life of Brian and The Return to Oz.”

Is the “wisdom of the crowd” really there or will a generous public flush their dollars into something as necessary as air in a bottle? (Of course, I missed the water in the bottle boom, so what do I know?)

And yet, they’ve raised 76% of their $5,000 goal.

The President was right: Americans are the most generous people in the world (if maybe not the smartest).
http://news.wfsu.org/post/local-video-store-turns-crowdfunding-keep-doors-open

Posted in accredited investor, checkbook, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Film, Funding Portals, Investments, Jobs, Legislative Intent, SEC, Small Business, technology | Tagged , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Crowdfunding To Release US Student From Chinese Jail

Montanans (Montanians?) are crowdfunding today to raise $8,000 in order to free a University student from a Chinese jail.

Guthrie McLean was arrested Sunday in Zhengzhou, a small town about 500 miles southwest of Beijing.

“He’s accused of attacking and injuring a cab driver,” although his mother says he was only trying to rescue her from the driver.

The police have apparently demanded the money for Guthrie’s release. His parents call this a “shakedown.”

The State Department is  involved in attempting to get him out of jail.
http://www.abcfoxmontana.com/story/35927105/um-student-in-chinese-jail-friends-react

https://www.youcaring.com/guthriemcleanandjennifermclean-880955

Posted in Charity, checkbook, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Jobs, Legislative Intent | Tagged , , , , , , , , , , , , , , , , , | Leave a comment

Celebrities Help In Crowdfunding

So, here’s a feel good crowdfunding story.

A quadriplegic young lady who is a huge fan of rapper Kendrick Lamar, and has attended every one of his local concerts, started a GoFundMe campaign so she could afford to buy an accessible van.

Of course, the new van was to help her get to more KL concerts.

Lamar found out about her situation, and bought her the van. Plus a back stage visit.

Celebrities can make things happen in crowdfunding in more ways than one.

(Plus look at this good publicity).
http://www.mtv.com/news/3025754/kendrick-lamar-paralyzed-fan-damn-jacket/

http://www.huffingtonpost.com/entry/celebrities-are-making-crowdfunding-prominent-and_us_596e2573e4b05561da5a5ac7

Posted in accredited investor, Charity, checkbook, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Film, Funding Portals, Investments, Jobs, Legislative Intent | Tagged , , , , , , , , , , , , , , , , , , | Leave a comment

Right Wingers Crowdfund To Stop African Migration To Europe

Right wing “patriots” have been crowdfunding to stop the influx of migrants from the African continent.

Known in Europe as the “Identitarian Movement” it claims that “Migrants are destroying Europe’s social fabric.”

And so they are raising citizen money to buy boats to try to thwart non-governmental organizations like Doctors Without Borders from helping illegal migrants from coming ashore in Italy and other places in Europe.

The group says that it will do everything in its power to send refugees back to Africa.
http://www.huffingtonpost.com/entry/far-right-migrants-africa-crowdfunding_us_596cc499e4b017418629212e

Posted in balance, Charity, checkbook, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, discrepancies, Jobs | Tagged , , , , , , , , , , , , , , , , , , | Leave a comment

Medical Crowdfunding Scams Proliferate

Some folks think that the medical crowdfunding scam (i.e., fraud) is a result of a psychological problem called “factitious disorder,” which at its extreme is illustrated by Munchausen by proxy (where a caregiver purposely causes another, usually a child, to become and stay ill).

“On GoFundMe alone, $930 million of the more than $3 billion raised to date on the site went toward healthcare expenses.”

However, the real problem is that there is no way to really verify the extent of the illness (if any), the portal’s “guarantee” is hard to collect and prosecutors have a hard time collecting evidence to charge someone for fraud (who may just disappear into the internet ether).
https://www.dailydot.com/irl/manchausen-internet-rise-medical-crowdfunding-scams/

Posted in accredited investor, balance, Charity, checkbook, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, discrepancies, fraud, Funding Portals, Legislative Intent | Tagged , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Crowdfunding Comes With Tax Issues

Bad news, crowdfunders.

Tax professionals are saying that the Internal Revenue Service (and probably your friendly State tax collector) believe that all moneys you receive from crowdfunding is taxable income.

Guess what? That DVD reward, it’s considered a “sale” and subject to income tax and probably state sales tax.

However, if you’re in business and you have expenses (the cost of that DVD) that may offset the income received, you may not owe tax (but you didn’t make a profit either).

And, if rich daddy “donates” more than $14,000, he may have gift tax issues.

(Note: equity investments would not be taxable until their sale).

http://www.marketwired.com/press-release/us-tax-professionals-tackles-the-tax-implications-of-crowdfunding-2226162.htm
http://www.us-taxprofessionals.com/newsletter.php#3

Posted in accredited investor, balance, Charity, checkbook, Congress, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, Film, Funding Portals, Investments, Jobs, Legislative Intent, SEC, Small Business, technology, VC, Venture Capital, Wall Street | Tagged , , , , , , , , , , , , , , , , , | Leave a comment

Sudanese Journalist Released From Jail By Crowdfunding

What’s really cool about crowdfunding is how it’s taken off in all directions – not only all over the world but for all sorts of things.

Further that, a Sudanese journalist who was jailed because she refused to cooperate with the country’s security agents and was beaten, was released from jail because she was able to pay her $1,488 fine by means of a crowdfunding campaign.

The article says that “Sudan ranks 174 out of 180 countries listed in the 2017 World Press Freedom Index compiled by Reporters Without Borders.”

Amal Habbani says that she intends to use the funds raised in excess of her fine “on press freedom issues such as other cases against journalists, or the women held in Omdurman’s women prison.”
http://allafrica.com/stories/201707120297.html

Posted in accredited investor, Crowd Fund Act, Crowd Fund Act of 2012, Crowd Funding At the Margins, Crowd Funding Platforms, fine, Funding Portals, Investments, Jobs, Legislative Intent | Tagged , , , , , , , , , , , , , , , , , , , , | Leave a comment