Threshold pledge
Hey there kiddo! Do you know what a pledge is? It's when you promise to do something or give something to someone. A threshold pledge is a special type of pledge that happens when a group of people want to fund a project, like building a treehouse or making a movie.
Here's how it works. Let's say a group of friends wants to build a clubhouse in their backyard. They need money to buy the materials, like wood and nails. But they don't have enough money on their own. So they decide to ask other people for help.
They make a special webpage or post on social media that explains what they want to do and asks for pledges. But there's a catch – they only get the money if they reach a certain goal, or a "threshold." In this case, their threshold is $500.
So if someone pledges $10 towards the clubhouse, it doesn't count towards the goal yet. But if they get enough pledges to reach $500, then everyone's pledge goes through and they get the money. If they only get $499 or less, then everyone's money goes back to them and the group doesn't get any money.
This is a good way to make sure that people aren't wasting their money on a project that might not happen. It also encourages people to spread the word and get more people to pledge, because it's all or nothing!
So that's what a threshold pledge is – a special type of pledge where everyone's money only goes through if a certain goal is reached. It's a fun way to work together and make something cool happen!
Here's how it works. Let's say a group of friends wants to build a clubhouse in their backyard. They need money to buy the materials, like wood and nails. But they don't have enough money on their own. So they decide to ask other people for help.
They make a special webpage or post on social media that explains what they want to do and asks for pledges. But there's a catch – they only get the money if they reach a certain goal, or a "threshold." In this case, their threshold is $500.
So if someone pledges $10 towards the clubhouse, it doesn't count towards the goal yet. But if they get enough pledges to reach $500, then everyone's pledge goes through and they get the money. If they only get $499 or less, then everyone's money goes back to them and the group doesn't get any money.
This is a good way to make sure that people aren't wasting their money on a project that might not happen. It also encourages people to spread the word and get more people to pledge, because it's all or nothing!
So that's what a threshold pledge is – a special type of pledge where everyone's money only goes through if a certain goal is reached. It's a fun way to work together and make something cool happen!
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