Read-a-thon Donations - How it Works
So you are considering holding a Read-a-thon with our company but you want to know how people donate, how secure those donations are and how you get paid. So let's tackle those questions.
How Do People Donate to My Read-a-thon?
The way groups raise money is by asking people to sponsor readers during their read-a-thon. We provide a step-by-step process to help readers identify and then contact as many potential sponsors as possible. We provide suggestions on what kind of people make the best sponsors and then we provide email tools, social media widgets and print material as contact points to reach out to that audience.
All of the promotional materials ask potential sponsors to visit the reader's personal read-a-thon web page. On that page the sponsor will read a brief request to help by donating a small amount of money to support the reader's participation in the Read-a-thon.
We suggest sponsors donate $25. But they can choose other amounts we suggest or choose a different amount if they prefer. The lowest donation accepted is $10.
Interestingly the average donation has been around $29.75. The largest single donation a reader has received was $1,500.00. One reader set the record by getting donations from 53 different sponsors.
How Do Donors Pay?
We offer 3 different payment methods for sponsors so they can choose the method they are most comfortable with.
Credit Cards: Sponsors choosing this option can pay for their donation with Master Card, Visa or Discover via a secure form on an https page. This page has an Secure Socket Layer certificate from Go Daddy. It encrypts the information visitors enter on our site. This keeps thieves from "overhearing" any exchange between our site and another computer.
PayPal: If sponsors either have PayPal accounts or feel more secure processing payments through their platform we offer this option as well. People who choose PayPal can pay with any credit card accepted by PayPal, with an online check or by transfering money from their PayPal accounts.
E Checks: For sponsors who prefer paying by check we provide a very secure E Check system where you can pay using a personal or business check.
What Happens to the Donations?
Read-a-thon processes donations in real time which means that we accept payment on your behalf and deposit all funds in a Bank of America account that is used to pay groups upon completion of their fundraisers.
Groups can watch donations as they are made by visiting their fundraising dashboards. Administrators get reporting for their entire group and can drill down to class and reader levels as well.
The money is held until your read-a-thon ends. Once you tell us your event is complete a 10 day countdown begins. At the end of 10 days your first payment is processed. We will forward you a check for 80% of your net proceeds. The balance is sent 20 days later. We delay payment of the final 20% to account for chargebacks or bad checks that might have been used to make donations to your group.