An overview for non-profit partners collaborating with iBidcondo

1. Overview for Nonprofit Partners
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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?
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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
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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
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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
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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
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7. iBidcondo is Getting the Word Out…
= Great Exposure for your Organization!
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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.
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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.
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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!
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