1. What is LatchOn.org?
2. What is the philosophy behind LatchOn.org
3. How can I make a difference?
4. Who can participate in this marketplace?
5. Is my investment tax deductible?
6. What type of returns can I expect from my investment?
7. How does LatchOn.org ensure quality and prevent fraud?
8. What types of fees are involved?
9. Why go through LatchOn.org when there is a facilitation fee?
10. What is the relationship between La Leche League and LatchOn?
11. What is a fiscal sponsor?
12. What happens if a project does not go through after I have made a contribution?
13. How do I know the project manager will be able to successfully implement the project if he/she gets funding?
14. Is there a minimum amount of funding needed to implement a project?
15. How private is my information?
16. What are the methods of payment?
17. How do I keep track of my projects?
18. What does authentication mean? who are the authenticators?
19. Can I post multiple projects?
20. Can I add your link to another site?
21. How do I ask a question that is not covered in the FAQs?
1. What is LatchOn.org:
LatchOn.org is an internet-based marketplace to support breastfeeding, nutrition and parenting-related projects. People with resources to give (donors) and people needing these resources for projects (project managers) can connect in the marketplace.
Back to top
2. What is the philosophy behind LatchOn.org?
LatchOn.org projects are connected through a common philosophy about breastfeeding, nutrition, and parenting. Each project contributes to realizing, deepening, and sharing the love and wisdom inherent in breastfeeding. Read the full philosophy statement.
Top
3. How can I make a difference?
Once you go through the free registration process, you can make a difference in many ways:
- You can find a project that addresses issues that concern you and support that project by making a financial investment. You can tell your friends about your investment and urge them to do the same.
- You can offer your advice or share your experience with a project manager.
- You can ask a question that helps the project manager clarify the project goals or its implementation strategy, thereby attracting support from others for the project.
- You can tell your friends and colleagues about the Breastfeeding LatchOn.org and encourage them to join.
Top
4. Who can participate in this marketplace?
Anyone can sign into LatchOn.org. Signing in is free of charge and the only requirements are a unique username and an e-mail address.
Top
5. Is my investment tax-deductible?
Yes, donations through LatchOn.org are tax deductible for US taxpayers to the full extent permitted by law. Individuals should contact their accountant or financial advisors about their personal situation.
Top
6. What type of returns can I expect from my investment?
Investments are measured by their social return. (During phase two, you will be able to see the projected social returns of a project by consulting the project information posted in its project library.) Examples of social returns include increased income for a local community to support breastfeeding activities through a micro-enterprise project or a program at a health clinic that increases the rate of exclusively breastfed infants.
At this time, investments are not associated with equity and there will be no financial returns. Over time the LatchOn.org will be exploring ways for donors to support projects through low interest loans and full-fledged equity investments.
Top
7. How does LatchOn.org ensure quality and prevent fraud?
Every project on LatchOn.org will go through authentication to be considered for funding. Authentication is a process in which the identity of the project manager and the project are verified by a designated authenticator from LatchOn.org. The marketplace is creating a global network of authenticators.
LatchOn.org also requires that project managers develop a business plan. Tools are built into the site to assist project managers through this process. In addition, LatchOn.org has a network of advisors to help project managers refine their business plans.
Top
8. What types of fees are involved?
There are no fees to be a member of LatchOn.org. LatchOn.org charges a facilitation fee of 10% of the funds raised for each project to cover the cost of the service. This is included as a line item in the project costs. For project managers, there is no cost to submit a project at this time.
Top
9. Why go through LatchOn.org when there is a facilitation fee?
Funding a project through LatchOn.org is not only a more efficient and streamlined way of promoting international development for breastfeeding - it provides access to a community of like-minded people from around the world. LatchOn.org is a means of discovering these socially-minded individuals working towards a common goal.
Top
10. What is the relationship between La Leche League and LatchOn?
LatchOn.org is an internet-based marketplace THAT SUPPORTS breastfeeding, nutrition and parenting-related projects. LatchOn.org is linked into LLLI through the Funding Development Department and is a great, creative, modern way to help programs and projects get support that LLLI could not provide otherwise. La Leche League also acts as a fiscal sponsor for those projects which fit its mission.
Top
11. What is a fiscal sponsor?
A fiscal sponsor is a financial entity that RECEIVES and DISTRIBUTES those funds received for projects ASSIGNED to it. The fiscal sponsor also ISSUES tax certificates to donors.
Top
12. What happens if a project does not go through after I have made a donation?
LatchOn.org releases funds to a project only after the project has raised the minimum amount requested. If the project is unable to raise this amount, LatchOn.org will work with the project manager to see if the project can be downsized while still remaining viable. If this is not possible, then the project deal will be closed, and the funds will be transfered to the LatchOn.org's general fund. **Please note that, for tax and legal reasons, a donation made through LatchOn.org cannot be returned to the donor**
Top
13. How do I know the project manager will be able to successfully implement the project if she/he gets funding?
As a donor, you will look for projects which have teams (rather than individuals) behind them, or project managers with a track record of success. You can also discuss the project's chances for success with the project mentor, or even provide implementation support and advice yourself. But to further assure preparedness, each project manager is required to develop a business plan, which provides all the details of action for the project as well as the project manager’s previous experience(s). In the business plan, the project manager explains the implementation plans and what will be done with donated money.
Top
14. Is there a minimum amount of funding needed to implement a project?
Yes, the minimum amount as stated by the project manager must be collected before the project can be started. There is no minimum amount that a project must seek in order to post a project on the site.
Top
15. How private is my information?
First and foremost, LatchOn.org will not release user information to outside sources without your permission. However, should you choose to make some or all of your information public, the only people who would have access to it would be LatchOn.org users. We strongly encourage people to share their information - as identity is an important part of building an online development community. However, we understand that anonymity is important to some users, so there is an option that keeps your information entirely private. If you choose this option, when people click on your username all the information that you have chosen to keep private will indicate as "not shown." In making an investment you have a further privacy option to shield your username from showing up against your investment. Please contact us if you have any questions about this.
Top
16. What are the methods of payment?
You can make a donation by sending a check payable to LLLI in U.S. Dollars or by making an Internet or bank transfer. Should you want to make use of a credit card, please contact us.
Top
17. How do I keep track of my projects?
Once you become a registered user of LatchOn.org, hyperlinks to any projects you have participated in (by leaving a message on its message board, or by downloading documents from its project page) will be listed at the bottom of your personal homepage. To get to your home page sign in, or click "my home" on the task bar at the top of the page.
Top
18. How do I update my profile?
When you sign in, click on the icon that says "My Profile." You are then free to make any changes you would like - including changing your password and updating your basic information.
Top
19. Can I post multiple projects?
Yes, multiple projects are allowed. However, it is recommended that you only submit the number of projects that you can manage and develop effectively. To be successful over time in LatchOn.org, you will want to build a reputation with other users as a person or organization with high quality projects. In addition, you should be known as being responsive to questions and concerns. By starting small, with fewer projects, you will be able to show investors that you propose successful ventures and your future projects will gain more attention.
Top
20. Can I add your link to another site?
Yes you may add our link to another site. If you choose to do so, please send an e-mail to telling us which site it is and why we are listed.
Top
21. How do I ask a question that is not covered in the FAQs?
Please contact us and a representative will reply to you promptly. Any comments or suggestions for improving LatchOn.org are strongly encouraged.
|