Omaze offers an online service on which users can give to charities and have the chance to get various prizes and experience. It’s a unique method of raising funds. As per the website, the users have raised more than 150 million dollars, and have benefited over 350 charitable organizations. The charities are spread all over the world. These charities are major credited non-profit organizations like UNICEF, After-School All-Stars, Julia’s House, Product Red, along with Make-A-Wish Foundation.
Donations are not required to enter a contest, however, they can earn additional contest entries, as well as other benefits. The contestants can choose which cause they’d like to contribute to. Every contest comes with its own distinct prize, from luxury cars to once-in-a-lifetime experience.
Before you go on, you may want to watch this video by The Entrepreneur on YouTube that gives a quick overview. Afterward, you’ll want to read the rest of the article for a more comprehensive review of Omaze.
What is the process behind Omaze function?
Omaze Financial Report
Omaze believes that every person deserves the opportunity to be a part of fundraising. Traditionally, charitable organizations usually relied on fundraisers where only the rich and famous attended. Omaze wanted to democratize charity auctions through its unique fundraising method. This means that everyday people can make a donation to the charity they choose for as low as $10.
You have two options you can enter. The first is through donating while the other option is entering for no cost. You are able to participate in any contest with no donation, but you earn additional entries depending on the amount you give. The more you donate will result in more prize entries you’ll receive.
To donate, simply go to “Enter Now” from the Experience or Prize page on the website. Then choose a donation amount and follow the steps to fill in your details. You can give as many times as you like. But, there is a maximum Entry limit that varies depending what prize you win.
For a chance to win for free To enter for free, visit the Experience or Prize page on the website. Click the “enter without contributing link” and follow the directions. You’ll need to fill out the form. After submitting the form you will be awarded a certain number of entries. The form can be submitted multiple times as you like, but again, there is a maximum entry limit.
Omaze has faced criticism over how much of the donation goes to the charity. For the most expensive prizes, only about 10-15 percent of the money is donated to the charity. The company has responded that 10 percent is a significant amount. The remaining donation is used to cover expenses for marketing and operational costs to continue to run the business. It is important that people are motivated to contribute due to the attractive prizes.
For prizes with lower costs, the company reports that 60% of the money is given to charities.
Donations made on the site directly go to Charities Aid Foundation America (CAF America). It’s a nonprofit organization which has joined forces with Omaze to make fundraising simple, safe, and effective. CAFA makes use of donations to pay grants to charitable organizations.
Omaze provides a range of incredible prizes, which they refer to as Experiences. The prizes include luxury cars, dream homes, a opportunity to get to know your favourite celebrity and a once-in-a lifetime travel experience.
Here are a few examples of past and current prizes provided by Omaze:
- The chance to win a multimillion-dollar Miami dream house
- A trip to Japan curated just for you
- An unforgettable safari with a luxurious stay in Giraffe Manor in Kenya
- A chance to get two seats on one of the first Virgin Galactic flights to space
- An exclusive meet and meet and greet featuring Dwayne “The Rock” Johnson
- A luxurious vacation to a spa resort in Thailand
- First class tickets on planes to anyplace in the world
- Chance to win luxurious cars and a variety of other vehicles
Omaze has a constant stream of new campaigns and enticing prizes. Visit their website to view more prizes with the information. It also provides previous prizes and winners. For previous contests you will also be able to see the amount the charity received.
Who started Omaze?
Omaze was founded in 2012 by Ryan Cummins and Matt Pohlson. According to the website, they got the idea when they went to an auction benefitting charity. The item that was up for auction was their ideal experience including a basketball game as well as dinner in the company of Magic Johnson. However, the bidding went to the point that they were outbid. The prize raised just $15,000.
The two didn’t understand why such a huge prize only brought in a small amount for a good cause. They also felt that this fundraising model was limited to those who are wealthy. They felt that extraordinary experiences such as this shouldn’t be restricted to a few wealthy people.
Then they came up with an entirely new method of fundraising, which would be accessible to a significant amount of people.
This fundraiser would be made available online, so anyone could take part. People wouldn’t need an enormous amount of cash to participate and encourage more participants and help raise more money to support the cause.
They also think that charities should feel better about advertising on this platform since it’s for an important cause. Their platform allows charities to connect with a wider market in a way that is appealing to raise money.
Is Omaze real?
While the company has faced some criticism, it appears that they are indeed legitimate. As of now, they’ve collected more than $100 million for charity and have distributed the prizes to the participants in accordance with their promises. Numerous famous personalities have also endorsed and advocated for the platform.
Several winners have also spoken regarding the prize they have won. Some are also featured on Omaze’s Omaze channel. Omaze Youtube channel.
Omaze is also accredited by Omaze is also accredited by Better Business Bureau with an A+ rating. Omaze Financial Report
Because it’s a not-for-profit company, Omaze takes around 20% of the donations. If you wish to have 100% of your donations to be donated to a non-profit. In that situation, you may consider donating direct to the nonprofit or charity instead. The best part about Omaze is that you are able to make a difference and simultaneously you can get a great experience. This makes it very appealing to a wider range of people. If you’re seeking unique experiences, then Omaze is a great chance.
Cost and Price Plans
Omaze lets you donate for as low as $10. As the donation amount increases, the number of entries also increases, and the equivalent for 1 entry decreases. For example $150 is equal to 2000 entries. This is one entry for every seven cents donated. Omaze Financial Report
Here are the amounts for donations with the equivalent number of entries:
- $20 = 20 entry
- $25 = 125 entries (most popular option according to the website)
- $50 = 500 entries
- $100 = 1,200 entries
- $150 = 2000 entries
According to Omaze the company, they take around 12%-20% of the net funds. The money is used to pay for operating expenses, including advertising, content creation and payment processing fees. About 60%-80% of the funds are donated to charities.
To be more precise This is how it differs between the celebrity and non-celebrity prizes. For celebrity prizes that are usually more affordable, 60% of the money goes to the charity and 25 percent goes to Omaze. For more expensive prizes like vacations, cars, or cash, 15percent of donation goes to charity while 65%-75% goes to Omaze.
Omaze is currently unable to offer refunds since the money is donated to charitable causes. If you do have any concerns regarding your transactions it is recommended to contact Customer Service as soon as possible.
Customer Service Contact Info
If you have doubts, questions or issues. If so you can submit your concerns directly to their website through using the Support Center and Submit a Request link. There is also a wealth of information and find frequently asked questions in the Support Center.
Omaze can be described as an internet-based platform for fundraising which allows users to make donations to charities to be eligible to win unique prizes and experiences. Omaze is a legitimate business which has been in operation for many years. It has assisted numerous charities reach their goals by raising funds for them. Its unique fundraising model allows everyone to have the opportunity to enjoy amazing once-in-a-lifetime experiences.
Omaze is a different way to give to charity. However, it’s been the subject of a lot of critiques regarding how much actually is donated to charities. But, this is understandable as Omaze is a company, so it’s a for-profit organization. If your intention is to donate money to an organization and ensure that the entire amount goes to them, then you can donate straight to your charity. However, if you’re looking to win one of Omaze’s fabulous prizes, then donate through Omaze instead. It’s a win-win situation since you can win a prize while donating to a worthy cause.
FAQS Omaze Financial Report
Where is Omaze where is it based?
Omaze is based in Los Angeles, California.
Can my tax-deductible contribution be deducted?
All Omaze donations go to Charities Aid FoundatAmerica ion (CAFA). Since CAFA is an US charity and all donations made by US donors through the Omaze platform are tax-deductible in the amount the law permits. However, if your contribution is accompanied by an experience reward then the value of the experience perk will be deducted. If you give $100 and receive an experience perk of $75, then your tax-deductible donation would be $25.
Are there any Omaze scams?
Although Omaze is being attacked by a lot of people on the internet as a scam however, the company is completely legitimate. They are able to raise funds for the charities involved and award participants as promised. To ensure your safety be sure to donate your money through Omaze’s authentic Omaze website only. Verify if the website is fake or not prior to donating your money.
What are the odds of winning?
The more you give the greater your chance of winning since a higher donation equals a larger amount of entries. However, you can still participate without contributing money to qualify for a certain number of entries.
What is the process to confirm that they have a winner?
After the contest is over after the contest has ended, a winner could be randomly selected using an encrypted and secure random number generator. After the random drawing process Omaze’s team finishes the process of confirming winners. You may view more details on the process on their website.
How do they reach them and to announce winners?
An Omaze representative informs potential winners via email. The winner is given 24 hours to reply to the initial email. The Omaze could contact them with an scheduled video conference, too. Once a potential winner has been confirmed and responded to their initial emails, they will need to accept the paperwork provided to them from an Events Team as part of the confirmation process for winners.
Note that Omaze will never contact the winners through social media. Instead, it will contact them by email.
How does Omaze earn money?
As a not-for-profit entity, Omaze is able to collect a 20% fee on net raises from their campaigns. To ensure they stay functioning the fee is used to cover operational costs, such as advertising, content creation, and payment processing fees.