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iBidcondo Non-Profit Partners Overview
iBidcondo Non-Profit Partners Overview
iBidcondo Non-Profit Partners Overview
iBidcondo Non-Profit Partners Overview
iBidcondo Non-Profit Partners Overview
iBidcondo Non-Profit Partners Overview
iBidcondo Non-Profit Partners Overview
iBidcondo Non-Profit Partners Overview
iBidcondo Non-Profit Partners Overview
iBidcondo Non-Profit Partners Overview
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iBidcondo Non-Profit Partners Overview

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An overview for non-profit partners collaborating with iBidcondo

An overview for non-profit partners collaborating with iBidcondo

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  • 1. Overview for Nonprofit Partners -1-
  • 2. A Unique Opportunity to Raise Money for your Cause From challenging times and necessity rises some of the most innovative ideas… Reality: Reality: Property market has Nonprofits are suffered from the experiencing a “perfect economic downturn storm” Developers are unable  Demand for services to sell existing stock of  Funding properties Question: Is there a solution to both? Is there a way to bridge the gap in the property market and support the nonprofits that improve our communities? -2-
  • 3. iBidcondo is a Revolutionary, Online Property Auction Where Sale Proceeds are Donated to a Nonprofit iBidcondo sells virtual seats prior to the auction to cover the “price” of the property Bidders set the price – there is no reserve and no minimum – when the auction closes, the property sells for the highest unmatched price Because the price of the property is covered by auction seats, iBidcondo can donate the proceeds to charity A percentage of the winning bid will be donated to a nonprofit Bidders can designate a charity of their choice or select from iBidcondo’s pre- approved partners Buyers get amazing Contribution is Developers’ costs + property at low + made to help the are covered price community -3-
  • 4. While it’s a Totally New Concept, Evidence Suggests iBidcondo will Work Auctions are a proven model for offloading properties • Where iBidcondo is unique is that these are NOT foreclosures or short sales (they are new condos) and there is NO RESERVE and NO MINIMUM PRICE Auctions are a popular and successful way to sell properties in the UK, Australia and Asia, but it is just beginning to take off in the U.S. (where auctions have traditionally been used to sell foreclosures) • For example, on Sunday 5/17 in Austin a developer sold all remaining new condos in an auction format* The recent auction in TX demonstrates that auctions are a great way to sell – the sale happens immediately and often at a discounted price We’ve consulted investors, statisticians and Web auction experts who believe iBidcondo is a winning concept * Source: www.news8austin.com; “Austin developers may be handing out deals on condos”, May 18, 2009 -4-
  • 5. How it Works Example: $ Auction Net proceeds commences go to nonprofit $400,000 Condo and property designated by sells for winning bidder ~10-20% of value 4,000 auction seats Auction closes Winning charity (# of seats will depend on property price) and winning receives $48,000 bidder gets donation from at $100 each property for iBidcondo* (avg. auction seat price) $60,000 Winning nonprofit may be designated by the bidder, or selected from iBidcondo’s existing partners. * Net proceeds from auction will be donated to charity -5-
  • 6. What it Means to be an iBidcondo Nonprofit Partner What you can expect from What iBidcondo expects from iBidcondo you • Placement of your logo on iBidcondo’s • Link to iBidcondo on your website website, along with information to help • Permission to use your name in seat purchasers understand your iBidcondo press releases, etc. cause • Develop an Email blast for you to • Inclusion in drop-down menu when send to your appropriate contacts seat purchasers designate a nonprofit regarding the auction (help • Mention as a partner charity in press spreading the word) releases • Proof of nonprofit status • A simple, smooth process • Announcement regarding iBidcondo • A chance to receive a contribution contribution if the winning bidder from iBidcondo! chooses your organization -6-
  • 7. iBidcondo is Getting the Word Out… = Great Exposure for your Organization! -7-
  • 8. Frequently Asked Questions How do seat purchasers nominate their charity? They will be prompted to select from a drop down menu (including our nonprofit partners). If they do not select from the list of partners, they can fill in their own or leave it blank for iBidcondo to select for them. What happens if the winning bidder didn’t designate a charity? iBidcondo will choose a preferred charity for that auction based on level of connectedness to the local community where the auction is taking place and a desire to give to pressing or urgent community needs. What types of nonprofits is iBidcondo looking to partner with? Nonprofit partners represent a variety of areas including youth development, healthcare, community development, affordable housing, and other innovative nonprofits that have developed unique models to address community needs. If you are interested in becoming a partner please go the charity page at www.ibidcondo.com for contact details. How often will iBidcondo hold auctions? Once we launch, we anticipate holding auctions approximately every four weeks. -8-
  • 9. Frequently Asked Questions (Continued) What share of the net proceeds will the nominated nonprofit partner receive? The more seats sold, the higher the share of the net proceeds. When does the winning nominated nonprofit receive its charitable contribution from the net proceeds? iBidcondo will be auctioning properties that have already been completed (existing inventory) as well as some that are still under construction, and not yet complete. The contribution from sales of existing inventory will be released to the nominated charity at closing of Escrow, this is expected to be 30 to 60 days from the close of the auction. The contribution for properties still under construction will be released to the nominated charity upon finalization of the purchase, when the title is transferred to the purchaser by the developer (timing for these will vary). Will the nonprofit partners be different for each auction? No – we will likely invite/select new partners to add to our list over time, but the partners won’t differ for each auction. However, there may be opportunities for nonprofits to host an entire auction if they can sell all the seats to their supporters, guaranteeing that they will be the designated charity for that auction. What, if any, are the potential risks for nonprofit partners? None. There is no “catch.” This is truly a win-win for iBidcondo and nonprofits. -9-
  • 10. Contact Us For more information, please visit our website: http://www.ibidcondo.com/ http://twitter.com/ibidcondo http://www.facebook.com/iBidcondo Or contact our Jo Marchese in Community Giving at: jo@iBidcondo.com Thank you! - 10 -

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