Frequently Asked Questions
Can my donation be tax-deductible?
You may elect to make your WEfficiency pledge a “loan” or a “donation.” If you elect to loan, the pledge is not a donation and as such you will not be eligible to receive a tax deduction. If you elect to donate to a project, your donation will be made to Blue Planet Foundation. Blue Planet is registered as a tax-exempt 501(c)(3) organization with the I.R.S., and you will receive a tax receipt letter. However, we can’t advise you on whether you will be eligible for a tax deduction.
How long will it be before I get repaid?
Each WEfficiency project is different – different costs for the upgrades and different estimated energy savings. You can view the estimated repayment schedule on each WEfficiency project page
How do I take my money out of my WEfficiency account?
Once you have accumulated $10 in your WEfficiency account, you may choose to withdraw it via Amazon Payment Account (or another online servicer designated by WEfficiency), or via physical check. However, we encourage you to roll over your money to help out another nonprofit!
What happens if a nonprofit doesn’t save money on their electricity bill?
Will I still get repaid?
WEfficiency pairs nonprofits with professional energy contractors to engineer and create each project. The contractor and nonprofits work to find cost-effective energy upgrades that are expected to save money. But in the end, the repayment schedules listed on each WEfficiency project pages are just professional estimates based on forecasted energy savings. There is a risk that the nonprofit may not get the full forecasted energy savings. In that case, the repayment period and amounts will be adjusted to match the actual energy savings from the upgrades.
Is there a deadline for repayment?
Repayments are tied to the estimated energy savings. Thus, there are no pre-determined deadlines for repayment, but WEfficiency fosters a working relationship with each nonprofit to make sure they follow through with their obligation to the crowd. There is a risk that some nonprofits might choose not to repay the crowd.
Will the nonprofit report their electricity savings after the efficiency upgrade?
WEfficiency will send periodic updates on impacts from of the projects – including electricity savings to date. These updates will also include information on repayment progress.
How do the nonprofits determine what energy upgrades to do?
The nonprofits are paired with an expert energy contractor to determine the most cost effective upgrades for the nonprofit. The nonprofit and the contractor then determine which upgrades will be included in the WEfficiency project that is broadcasted to the crowd for support.
How do I get my nonprofit involved?
Any 501(c)(3) nonprofit can participate in WEfficiency. Email email@example.com for more information.
When does my credit card get charged?
Your credit card will be automatically charged when the project reaches its funding goal.
What happens if the funding goal is not reached?
If the funding goal is not reached, your credit card will not be charged. We do, however, encourage you to find another nonprofit project to support!
Click the links below:
May 23, 2014 The Conversation on HPR: David Aquino talks about WEfficiency
May 23, 2014 Hawaii Public Radio: Hawaii Public Radio to take part in WEfficiency project
May 23, 2014 Pacific Business News: Hawaii program crowdsources loans to help nonprofits save energy, lower costs
May 23, 2014 Civil Beat: Blue Planet launches crowdfunding platform for nonprofits
May 20, 2014 Honolulu Star-Advertiser: Crowdfunding website helps nonprofits boost energy efficiency