If a Beam campaign is not fully funded, we do not have the funds to pay the training partner and other costs on the campaign budget. In that event, we would make a decision as to the whether the campaign has sufficient funds to materially help the person progress towards training and work.
If so, then those funds will be distributed in the person's best interests. If not, the funds will be reallocated equally to other live campaigns.
However, Beam intends to ensure that zero or close to zero campaigns ever fail through lack of funding by:
- introducing campaigns onto the platform in a controlled way, waiting for campaigns to fully fund before bringing new campaigns onto the platform
- collecting a contingency of 10% of each funding campaign that, if unused, may be applied at Beam's discretion to support slower to fund campaigns
- promoting the ability to make donations that are split between all campaigns as a way of smoothing out donations between all live campaigns
As a result, Beam has not let down a single person yet and has a 100% success rate of funding our campaigns.