Pay It Forward Target £815.19 – The Accounts


moneyWe can now confirm the financial situation following our Racing Wheelchair Pay It Forward campaign on Indiegogo.

Indiegogo didn’t share the exchange rate they used, so we had to wait until the money actually hit our account before we could work back to a Pay It Forward figure for the second part of our campaign.

So here goes. Enjoy the maths!

Income

  • Amount raised on IGG = $1045
  • Amount credited to us after IGG Fees = $985.58
  • Amount arrived in our bank = £623.58 but RBS had already taken their £7 fee.
  • So exchange rate = 630.58 / 1045 = 0.64
  • Total raised on Indiegogo is therefore 1045 x 0.64 = £668.80

In addition to money raised online, I also received several cash/cheque donations given to me directly. These totalled a further £185.

So our total income before fees was:

  • £853.80

After fees, the actual total received by us was:

  • £808.58

Outgoings

With £808.58 in our hands, we bought:

  • Motivation Flying Start Racing Wheelchair = £625 including P&P
  • A pair of Harness Designs Wheelchair Racing Gloves £125 including P&P
  • Silk Glove Liners £3.99
  • Lights for the chair
    • Front & Rear Set £26.95
    • Rear Safety Strip Light £20.99

Total Outgoings

  • £801.97

We said at the beginning that any over-funding would count twice. Therefore, the “Profit” of £6.61 is added to the total income and put into the pot. That gives us a “Pay It Forward” target of:

  • £815.19

Over the winter I’m going to spend some time getting used to the chair and start some training. I’m also going to spend some time thinking about how to get the second part of the campaign off the ground. The idea, of course, is that the racing chair will feature heavily in that campaign.

We’re also still mulling over ideas about how exactly we should “Pay It forward”. Comments are always welcome and there’s a Contact Form at the bottom of the homepage if you want to get in touch with thoughts or ideas.

Once again – Thank you for your generosity and support 😉