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The Crowdsourcing project (http://www.crowdfunder.co.uk/trust) was started at around 3:00pm yesterday. In the first 24 hours of business they have secured £14,564 of funding over the £500k (we presume) Louis Tomlinson has pledged. If we extrapolate that figure for the remaining 27 days of the project the total figure raised would be £393,228 + £500k = £893,228 (i.e. £1.1m short of the target).I presume these things actually work on a bell shaped curve sort of affair where the rate of donations peak a few days after the announcement and slowly decline until the completion date. If we (generously) assume a daily donation rate of £25k then the total raised would be (£14,564 + £500k + £675,000 = £1,189,564). Meaning they would be around £800k short of the target.There are some unaccounted for issues in this. One would be the amount of no-shows who pledge and don't pay up. The other (and I am going out on a wing here) would be whether any 'high-profile' donations are made from celebrity friends and the like. The third issue is costs (i.e. how much they have to pay the website, how many they have to pay staff, how much they have to pay for producing wrist bands and t-shirts and the like).Either way they will probably raise around half a million squid (nice sum of money for a league one club) but will fall somewhere substantially short of the target.
The facts relating to this are like this;500k was initially invested by JR/LT.Since that point to this second there has been a further £15,764 of purchases in the scheme.The scheme to be successful requires £53,571.34 per day on average (2232 per hour).The scheme will only be successful if the 2M target is reached on time. However, less than 2M flows back to the club. As the scheme is essentially offering a product it is subject to VAT. On the basis this is at 20% it would be around 333k in VAT applicable. On top of this there are fees due per payment. These are between 5 and 5.5% so assume 5% the minimum. This would be 120k including the VAT applicable on that.In crux the 2M would actually likely become 1.55M once all fees and taxes are paid. Quite different to what the charges would be using other schemes perhaps.What this doesn't tell us is whether it will be achieved, quite clearly someone could pump in 1Million if they so wish. It's an interesting and different way that's for sure.
Vat and trusts is not that clear cut. Depends on the type of trust setup.
Read a comment that one person had pledged all his/her birthday money
Either someone with some money is backing the scheme, or someone REALLY wants to play footy against Louis.Still, getting 10k can only be good for the club.
Someone just pledged 10k.
Quote from: GazLaz on June 21, 2014, 07:17:35 pmSomeone just pledged 10k.The cynic in me says that pledge was probably made by someone with an interest in seeing it reach the target, especially when a certain person reported it on FB almost straight away, expect more latge pledges when the donations stall
Filo .....cynical?? surely not.
Quote from: Wellred on June 21, 2014, 08:23:11 pmFilo .....cynical?? surely not.Spineless apparently!
Quote from: Filo on June 21, 2014, 08:46:48 pmQuote from: Wellred on June 21, 2014, 08:23:11 pmFilo .....cynical?? surely not.Spineless apparently!FFS grow a pair. You have had an apology. Doesn't that satisfy you?