The fundamental business model of Sparo is to leverage technology for the public good. Our vision is to grow Sparo into a global giving platform that unites the world around charitable giving by making it fun to donate.
Another mission of Sparo is to democratize the world of charitable giving because today the top 10% of non-profits (in the United States) take in 86% of all the dollars.
In short, to the extent that a non-profit organization such as the Tahirih Justice Center (https://www.tahirih.org) or the Urban Alliance (https://theurbanalliance.org) wins the Sparo Sweepstakes and receives a large donation it creates a public good. In the case of the Tahirih Justice Center it means helping more women who are abused and in the case of the Urban Alliance, it means more scholarships for disadvantaged youth in cities like Baltimore, Chicago, and Washington, DC. Ultimately, our goal is to send such a large donation to the winner of the sweepstakes so as to allow that non-profit to use it as an endowment.
Here is how a typical day may look like: 1000 players select their favorite charity from the Sparo platform to win the sweepstakes. Assuming each player donates $100, $10 (10%) goes directly to the designated charity. The remaining $90 goes into the pot. Now the pot has $90,000. Sparo's backend will randomly select either one charity (receives the grand prize of $90,000) or 90 charities win (each get $1,000). Sparo will charge a 5% management fee. In addition to keeping 5% in management fees in order to cover the cost of running the sweepstakes, Sparo will use its 5% management fee to cover the cost of its Rewards Program. Every dollar you donate to the sweepstakes is completely tax deductible and you will receive a receipt for your donation from our partner, Network for Good.
The US Patent Office has issued two patents to Sparo. Our platform is currently in its soft launch phase in partnership with Network for Good (https://www.networkforgood.com).