Sharing innovation to inspire action

Charities supporting supporters

Charities could ask their taxpaying supporters to help an innovative startup and claim $10,000 tax offset. The startup might get $6,000 per taxpayer and the taxpayers get $4,000 each. If they give the $4,000 to the charity they still make money from their $4,000 tax deduction. The charity ensures that they cannot lose this $4,000 in the startup arrangements. The charity should expect to get most of the $4,000, maybe more if the startup fails and maybe much more if the startup succeeds.
What do you think?

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ideaspies03 @ 2019.10.27 1:12 PM
Looks interesting Eric- can you explain more? Can you offer examples where this has been done?

eric @ 2019.10.27 4:24 PM
The funding model has been proven - founders getting friends and family to claim the $10,000 tax offset and contributing $6,000 (not necessarily in that order). Founders promise to spend $6,000 max of the investment in year 1 and to shut down if they have not made sufficient progress. Our company ensures this happens for investors. Charities would become the trusted partners of their supporters and innovation (where founders need more funding) - they would make sure that the taxpayer was safe and in the best position to contribute to the charity at the end of the year.

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By eric

26 October 2019

5 Like

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