Remake Music LLC Crowdfunding Terms
This document outlines expectations and terms for participating in Remake Music LLC’s crowdfunding campaigns.
Donor/contributor (either capitalized or not) – the person(s) participating in the campaign.
Contribution/donation – A payment made by the donor toward the campaign goal.
Campaign/crowdfunding – an effort to raise funds.
Adult – a natural person over 18 years of age.
We/us (either capitalized or not) – Remake Music LLC (DBA M.A.P. Family Learning Center)
Service – the technological services required to run the campaign such as the website.
Payment Processor – a company (e.g., Stripe, Inc. and PayPal, Inc.) that handles a financial transaction made in conjunction with the Service.
Award – something that the Donor receives in return for their successful Contribution. Awards may be tangible, material goods, or they may be non-tangible, non-material.
Funding Goal – the sum of Pledges that must be made to a Campaign by the Campaign Deadline in order to initiate the collection of those Pledges and deem the Campaign a success.
Campaign Goal – the purpose of the funding solicitation as marketed to the general public.
Campaign Deadline – A date, time, and timezone specifying the end of a Campaign and beyond which Donations are no longer accepted.
Business Fee – The percentage of received funding from Donations to be set aside to cover costs above and beyond the campaign itself . This money is not used to cover award costs or costs related to the Campaign itself. This money will be used to help Remake Music LLC grow.
Remake Music LLC will, from time to time, make broad solicitations in the form of campaigns to the public for the goal of generating revenue to achieve a particular goal.
Donors may participate in these campaigns by making Donation. No person(s) is considered a Donor until a Donation is made.
Due to the uncertain nature of innovation, awards may or may not arrive at the promised time.
This being said, every effort will be made to contact the Donors at their email address on file to inform them of changes. It is up to Donors to keep their email address up-to-date via their profile page and WordPress login page.
Awards may change depending on unforeseen circumstances. This being said, every effort will be made to notify Donors of any changes.
Corporate Sponsor Tier
For those interested in the corporate sponsor tier, please keep in mind that our Award offer to give your corporation public acknowledgement for its contribution depends on a few considerations. Mainly, these considerations have to do with the fact that Remake Music LLC specializes in teaching and learning materials and curriculum that will be used in the classroom, and that these classrooms typically have minors. For this reason, we cannot fulfill an public acknowledgement Award for your corporation if:
- your corporation’s work is inappropriate for minors and children. This includes, but is not limited to corporations that specialize in tobacco, pornography, and alcohol.
If you have any question about whether or not your corporation would be deemed appropriate or not, please contact us directly by email at email@example.com.
How funds are used
Funds received from Donors are considered revenue to us. Your donations will be used help our business, which specializes in integrated education curriculum and services (e.g. Music+Code).
Some of the funds received are immediately used to pay the Payment Processor (e.g. Stripe, Paypal, or Bank Fees for certain transfers) for their services. If you would like to avoid your funds being used toward Payment Processor fees, then you should consider paying by check.
In general, funds will be used toward the Campaign Goal. You can expect that 80% of the Donations received will be used directly toward fulfilling the Campaign Goal (minus Payment Processing Fees) and 20% of the Donations received will be used as a Business Fee. Because Remake Music LLC is a small business, and the owners are directly involved in the business the Business Fee is generally used to a) cover unforeseen expenses, b) toward some other business goal, and c) to compensate the owners for their time and expertise (via overall revenue after expenses).
Remake Music LLC is a private, for-profit business. You may not demand to audit our finances to see how funds for a Campaign are being spent. You should, however, expect to see some output based on the funds received. Measurable output would be a) completion of a promised Campaign goal proportionate to the funds received, and b) Awards received by you based on your funding tier.
Any public disclosures to the amount of funds have been received, how they are being used, and other information about our finances are to be taken in good faith.
As we are not a tax exempt entity, you cannot receive a tax exemption for your Donations.
A note about paying by check
If you choose to donate by check, please donate early (well ahead of the Campaign Deadline). Your check is not considered a Donation until it is received by us and cleared by our bank.
Changes to these Terms
We reserve the right to make change to these Terms. Last modification was made October 19, 2020.