Watch Out for Fake Charities

In the spirit of the season, many consumers give generously to charities over the holidays. But while they are looking to share, scammers are looking to steal through fake charities with high-pressure pitches. This holiday season, two state agencies ask consumers to do their research on charities before making a contribution and to be leery of pushy phone- and internet-based requests for payments.

Before donating, check with the Department of Agriculture, Trade, and Consumer Protection (DATCP) about any consumer complaints on file against the organization and check to see if the charity is registered with the Wisconsin Department of Financial Institutions (DFI).

“When consumers are making a decision to donate, they want to make sure that a high percentage of that donation is actually going to the service that is to be provided,” said Mary Ann McCoshen, Administrator of the DFI’s Division of Corporate and Consumer Services. “It’s easy to check out how a particular charity allocates their donations to programs by looking into their spending levels on the DFI website at www.wdfi.org/CharitableOrganizations.”

Tips for donors considering a contribution to a charitable organization:

 If contacted by phone, avoid being pressured to make an immediate donation. Don’t hesitate to ask the caller to send you information about the organization and its programs.

 Ask a solicitor to explain the purpose of the organization, what services are provided, how much of the donation goes to fund-raising expenses, whether the donation is tax-deductible, and whether you will be sent a receipt.

 Donate to charities that you trust and are well-established.

 To trick consumers into making donations, scammers will often use names and websites that are similar to those of better-known, reputable organizations. Watch the spelling of the charity’s name and web address (URL) closely.

 Be wary of unsolicited requests for donations, especially ones received via the Internet.

 Criminals know that many people make year-end charitable contributions for tax purposes, so they may take a tax-related angle in pitching their scam.

 Never write out a check or give cash to an individual solicitor. Write out checks to the name of the organization or use a credit card.

For more information or to file a complaint, consumers may contact:
 DATCP on the web at datcp.wi.gov; by phone (Consumer Protection Hotline) at 800-422-7128; by e-mail at datcphotline@wisconsin.gov; or at www.facebook.com/wiconsumer.
 DFI on the web at www.wdfi.org/CharitableOrganizations; by phone at 800-452-3328; or by e-mail at DFISecretary@wisconsin.gov.
 

Wisconsin Governor's Business Plan Contest

The 14th annual Wisconsin Governor’s Business Plan Contest is accepting entries online for the 2017 competition until 5 p.m. Tuesday, Jan. 31, 2017.

The contest is designed to encourage entrepreneurs in the startup stage of tech-based businesses in Wisconsin. The contest links up-and-coming entrepreneurs with a statewide network of community resources, expert advice and mentoring, management talent and possible sources of capital.
Over time, the contest has led to valuable public and media exposure for the top business plans and spurred economic growth in Wisconsin. Finalists will share in more than $100,000 in cash and in-kind prizes.

For their initial entries, contestants will submit a 250-word (about 2,000 characters) idea abstract online at http://govsbizplancontest.com/. That’s where contestants will also find business plan templates and other information, such as the Entrepreneurs’ Toolkit. The toolkit provides business startup information and assistance, networking contacts and technical resources.

Contestants who advance to subsequent contest rounds will expand their plan in stages. More than 70 judges drawn from the finance, sales, marketing, research and technology sectors across Wisconsin will score the entries and provide feedback on submissions.

To get started, contestants must create a simple account at www.govsbizplancontest.com. All entries are submitted through the website. Contestants use their account to gain access to mentors throughout the process, as well as review the judges’ comments and feedback.

Since its inception in 2004, more than 3,350 entries have been received and about $2.2 million in cash and services (such as legal, accounting, office space and marketing) have been awarded. Contest categories are Advanced Manufacturing, Business Services, Information Technology and Life Sciences.
Wisconsin residents 18 years old and older are eligible, as are teams from Wisconsin-based businesses and organizations. Businesses or teams from outside the state are also eligible to compete if they demonstrate intent to base their business in Wisconsin. Entrepreneurs may also enter multiple ideas, though each idea must be separate and distinct.

Companies or individuals that have raised less than $25,000 in private equity for their plans in a current form are eligible to enter. Generally speaking, private equity refers to angel and venture capital.

As with past contests, the 2017 competition will take place in stages:

• In Phase 1, which is open until 5 p.m. Tuesday, Jan. 31, 2017, the contest will accept idea abstracts on the website. Entries should be roughly 250 words (or no more than 2,000 characters, including spaces) and will be graded by the pool of BPC judges. The top 50 idea abstracts will advance to Phase 2.
• In Phase 2, which runs from Feb. 20 to 5 p.m. March 13, 2017, the top 50 idea abstracts will submit an executive summary. The top 20 executive summaries will advance to Phase 3. A mentored “boot camp” for contestants will be held in early March.
• In Phase 3, which runs from April 3 to 5 p.m. April 24, 2017, the top 20 executive summaries will prepare full business plans. Judges will review the plans and pick three finalists from each of the four categories to advance to the final presentation round. Mentored practice sessions will be offered to the top 12 in late May.
• The top 12, or “Diligent Dozen,” will square off with oral presentations during the Wisconsin Entrepreneurs’ Conference on June 6 at Union South in Madison.