TiME – projects
- TiME will distribute all of its income from crowdfunding donations to its approved conservation projects according to the relative numbers of votes each project receives during a particular year.
- A project will be funded only if it has reached the minimum funding levels needed for purchasing land.
- If a project hasn’t reached the minimum but can match TiME’s funds with an external source of funding it will be given four months to come up with such a match.
- If a project fails to receive the minimum funds in a certain year, the funds will be transferred to the subsequent year’s overall budget and will be distributed among projects during the next year. This transfer must occur because proposed projects are assessed by the scientific advisory committee each year and there is a chance that a project will not be reapproved by the committee in the second year due to compelling alternatives.
- A project that is reapproved for another year begins with zero votes.
- Individuals or organizations representing beneficiary projects will sign a contract with TiME before receiving the money (including payment plans and schedules, along with a long-term management strategy and commitment).
- As part of this contract, beneficiary projects will be required to send updates on the use of TiME’s funding, and the ecological and social outcomes resulting from the associated purchases. These updates will be uploaded to the project’s page on TiME’s website.
- The beneficiary projects will accept periodic visits by TiME representatives. The costs of visits by TiME’s representatives will be paid solely by the representatives or dedicated funds generated by TiME for this purpose and not by the projects themselves.
- Voting will be open until December 30th of each year. On January 1st, all approved projects for the new year will be uploaded to TiME’s website.
- Projects that receive a sufficient number of votes to enable them to meet their funding requirements will begin to receive money from TiME no later than the end of March, subject to signing the contract with TiME.
TiME – Members
- Members may vote for a single project.
- Each member has one vote per year.
- If a project is approved more than once (that is, year after year), members may vote for the same project each year.
- TiME is responsible for transferring all donations and membership fees to the projects, unless a donor contributes money to TiME specifically for other activities.
- TiME will report its income and expenses on the website every year.
- Membership renewal will be allowed at any time during the year.
- Members will receive an electronic receipt for their membership fees and additional donations.