This post is designed to support people with questions about our crowdfunding campaign. If there’s anything not here that you’d like to know, please contact us with your question or, if you’re ready, click here to go straight to our page to make your pledge!
What is a ‘crowdfunding’ campaign?
Crowdfunding operates quite like fundraising sites such as Just Giving, but instead of making a donation that is taken from your account straight away, crowdfunding asks for a ‘pledge’ – a promise to donate once the project you are backing (in this case, NFEST itself) is guaranteed to go ahead. Pledging works by creating a one-off, self-cancelling direct debit that is only processed once the campaign reaches its target and the Festival is viable.
Why is NFEST running a crowdfunding campaign?
We think it’s the fairest way to manage the risks we are all experiencing due to Covid-19. Should the festival have to be cancelled at the last minute, or our ability to raise money through food and refreshments disrupted, it would be unfair of us to expect to keep your donations. As a registered charity, the Village Hall Trust would not want to risk making a loss for reasons beyond our control. Crowdfunding is a way of giving us some financial confidence to go ahead, without expecting the public to donate to something that may not happen, however small the risks at this stage.
How much are we seeking to raise? And what will it be spent on?
We are seeking to crowdfund £2,209 – a very exact amount! This covers the cost of our marquee hire, plus Spacehive’s fees (5%) plus VAT. The full cost breakdown is included on our Spacehive page here. In setting up our campaign we submitted details of our costs and Festival agreements to Spacehive to be independently verified.
Why does NFEST need to raise money at all?
The Festival is the main annual fundraiser for the Village Hall Trust, raising funds for essential maintenance and running costs all year round. The Hall supports a wide range of activities from which the Village benefits. The Village Hall Trust, which owns and operates the Hall, is a registered charity. The Festival itself works very hard to maintain its community spirit – unlike other Festivals we do not sell tickets, we keep entry free to all, with voluntary donations encouraged. We are also incredibly thankful to all the musicians who give their time and talents freely to play, year on year.
If I make a pledge, will I need to confirm it on the door?
No, your pledge is not a ticket and we will not be ‘checking’ who has pledged to gain entry to the Festival. We will still operate our bucket system for those who prefer to give in cash on the weekend, we are simply asking those who can to donate early via the crowdfunding campaign, to help with our cashflow. The crowdfunding campaign is for anyone who wants to support the Festival, whether or not they plan to attend.
What is ‘Spacehive’?
Spacehive is the online platform NFEST is using for our crowdfunding campaign – the site through which financial pledges are made and processed. Spacehive charge a 5% fee for this service, similar to other crowdfunding and fundraising platforms. We know some people are sceptical about charges such as these, but such platforms provide a valuable service that it would otherwise cost charities such as the Village Hall Trust to set up themselves. The Festival is run entirely by volunteers, so this is not something we could feasibly do otherwise ourselves.
How do I know my pledge and my financial details are safe?
Spacehive are a very reputable crowdsourcing platform, currently supporting many such projects across the UK. They provide answers to a series of common questions on their own website here. If you have another question, please contact us via email and we will answer you directly ands update this list of FAQs so that others can benefit.
How can I make a pledge?
You can make a pledge by visiting our Spacehive page and following the instructions. Before you start you may like to make sure you have the following details to hand:
- You will need your name, email address and postcode to create your Spacehive account. You will also need to create a password for this.
- And for payments, you will either need to give details of your PayPal account (if you have one) or, if not you will need to set up your one-off, self-cancelling Direct Debit via the Go Cardless system. This is built into the Spacehive page – you won’t need to go anywhere else. To do this stage you will need your bank account number, sort code and postal address.
If you’d like any more information on how Spacehive works before you start, they have an FAQs page here with a video you can watch that explains the pledging process.