Saturday, May 4, 2013

Initial Feedback and Reactions

First off, thank you to those who have responded positively to this initiative. Your support and contributions are very much appreciated. 

When I first started sending out the "solicitation" letters, a friend suggested adding PayPal* as an option to encourage donations from friends based abroad. We discussed the nitty gritty of using PayPal -- the monthly charge and processing fee, the charge for transferring funds into a bank account before it can be withdrawn, etc. Taking all those charges into consideration, a php500 donation means that the project will only receive php465! A donor will have to send in about php520 for the project to receive php500.  

I was also worried that documentation and registration from the SEC will be required, but seeing that this is a personal endeavor (albeit with the support of friends and relatives) and that we are not (yet) approaching corporate sponsors, I think we do not need to involve SEC at this time yet. I will need to research this further to make sure we are not ignoring and violating any laws.

As mentioned previously, this is the first project of its kind I am coordinating and taking personal responsibility for. I have a lot of ideas for succeeding projects in the future, but until Project: Education Care Package is done and is deemed a success, they will remain ideas. I do not want to bite off more than I can chew at this time.

*Thank you to Jinoe for enlightening me about PayPal.

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