How We Handle Donations

As your fiscal sponsor, The Modding Foundation coordinates and facilitates all monetary contributions directed to projects under our administration. Here's our process:

1. We accept and hold the contributions

All monetary gifts flow to TMF in support of your chosen project, rather than going directly to the initiative. In our capacity as fiscal sponsor, we implement safeguards, manage operations, and maintain responsible stewardship of all money.

Important Note: We process all payments in USD. Contributions made in other currencies will be converted based on the exchange rate at the moment of transaction.

2. We distribute the money to your project

Your contributions become part of the project's budget within the Open Collective platform.

• Should you donate via Open Collective's interface, your gift appears in the project's ledger immediately
• Should you donate through an invoice arrangement, we add it to the project's ledger after we've received payment.

3. Openness and Record-Keeping

We share comprehensive documentation detailing how your project's resources are put to use. This encompasses regular financial summaries, project development milestones, and periodic assessments of outcomes to inform all contributors about the impact of their support.

Categories of Financial Support We Manage

Not all donations function the same way. We handle several types of contributions to fit different project needs and donor interests. Below are the primary categories:

1. Unrestricted Contributions: These are singular or ongoing gifts given to further the project's overall objectives. They supply critical resources for ongoing growth and upkeep.

2. Designated Funds: Certain gifts may be earmarked for particular targets or undertakings inside the project. These donations are utilized according to the contributor's wishes and are recorded distinctly to verify appropriate distribution.

3. Non-Monetary Gifts: Beyond cash donations, we receive donations of items, technology, or professional expertise. These gifts are evaluated for their potential benefit to the project and might be transformed into monetary value for financial records.

4. Corporate Partnerships: Businesses and nonprofits may back particular dimensions of the project, such as programs, enhancements, or community outreach. These partnerships frequently come with added perks, such as marketing exposure and appreciation within the community.

By understanding the different types of funds we handle, donors can make informed decisions about their contributions and how they align with the project's goals.

Tax Information

Monetary gifts to projects administered by TMF are not eligible for tax deductions.

**For contributors outside the U.S.: **These are optional contributions, therefore we don't impose VAT or other sales taxes. The majority of international contributors shouldn't need to address VAT in their records, although you should verify with a tax professional in your area.

Methods to Financially Support Projects

• Credit/Debit Card
• PayPal Account
• Electronic Bank Transfer
• Billing Statements
• Organization Purchasing and Purchase Orders
• Dedicated Funds

Credit Card, Debit Card, and PayPal

Using a credit card, debit card, or PayPal provides the quickest and most straightforward approach to fund a project managed by The Modding Foundation.

The Process:

1. Navigate to the project's profile on Open Collective
2. Select 'contribute' and pick either a one-time or repeating donation
3. Decide on your preferred approach: PayPal or card payment.
4. Finish the transaction. Your contribution is instantly reflected in the project's total balance.

Electronic Bank Transfer

All giving should be arranged via Open Collective whenever feasible. When a donor chooses 'electronic bank transfer' as their contribution technique on Open Collective, they'll automatically be sent necessary account details. However, for immediate banking information, feel free to reach out to us at hello@modding.foundation.

When you decide to contribute via electronic transfer (ACH or wire), the method is simple but needs several stages to document your contribution appropriately.

The Process:

1. Visit the project's profile on Open Collective
2. Select 'contribute' and pick either a one-time or repeating donation
3. Decide on electronic bank transfer as your chosen method
4. Check your email and the website for transfer guidelines, which will contain a special identification code.
5. Put this identification code in your transfer message — this helps us connect your payment to the right project.
6. Once we've gotten and confirmed your payment, your contribution gets added to the project's account

Key Information Regarding Electronic Transfers

1. How long it takes: electronic transfers take more time than plastic or digital wallet contributions. It could be anywhere from 3-5 or even more working days before funds clear and transfer to the project.
2. Evidence from your financial institution: Once you submit your transfer, think about emailing us notice to help expedite review. This will enable us to connect your gift more rapidly.

Billing Statements

Organizations, businesses, and institutions that require official documentation before contributing can use our billing statement option. This approach is generally available for contributions of $500 USD or higher.

The Process:

1. Request a billing statement — If your business can't support via the project's Open Collective interface, get in touch at hello@modding.foundation with these specifics: a. Connection to the project's Open Collective b. Your business's title and email contact c. Preferred billing date (if it should be sent at a later date) d. Details of what the contribution supports e. Contribution sum (USD) f. Procurement reference (PO) code (if you have one) g. Any other special requests

Unless we agree otherwise, standard terms are net 30.

2. Receipt and allocation: when you settle the bill, it typically requires several business days for the cash to arrive. We'll verify the deposit and then add it to the project's balance on Open Collective under your company's title.

Billing Expenses

We deduct a flat 10% charge on all money from billing statements. Should you wish to absorb the 10% sponsorship fee rather than subtracting it from your contribution, please specify this when you make your request.

Dedicated Funds

A Dedicated Fund is a distinct account operated under TMF created to make it easier to direct money toward several projects. Companies and groups frequently launch dedicated funds to organize their contributions more effectively, while some dedicated funds focus on particular themes or causes.

Reasons to Establish a Dedicated Fund?

Creating a dedicated fund comes with many advantages:

1. Unified Financial Control: Dedicated funds allow businesses to coordinate support across numerous projects using a unified platform, making contributions less complicated.
2. Better Exposure: Funds can boost recognition for particular themes or causes, drawing in additional supporters and contributions.
3. Simplified Record-Keeping: A separate fund makes it easier for companies to review their contributions and measure outcomes across all initiatives.
4. Customization: Funds can be adjusted to match your company's priorities and giving objectives, enabling purposeful financial support.

Fees

We deduct a flat 10% charge on all money deposited via this technique. Should you wish to absorb the 10% sponsorship fee rather than subtracting it from your contribution, please contact us via email.

When cash is put into a dedicated fund, the 10% fee is subtracted. When money flows from a Dedicated Fund to a participating project, no further costs are incurred.