F.R.E.E.

Founders 55 NFP, Inc. is an Illinois not-for-profit corporation (“FOUNDERS 55”), whose physical presence is in Illinois. FOUNDERS 55 is the sponsor of this Challenge.

Financial Revolutionaries Enhancing Education or the acronym FREE, symbolizes the goals and values of FOUNDERS 55. Our goal is to improve financial literacy today, focusing on reducing debt for future generations while improving and enhancing education.

The Challenge

The main challenge we are addressing is widespread financial illiteracy in our nation.  Children, their parents, and other individuals lack the education necessary to make sound financial decisions.  We believe financial illiteracy is a systemic problem and solutions need to be found. Debt is a major issue in our society and the rising debt of students, families, communities, states and governments are symptoms of this illiteracy. 

Did you know….

• The average student loan debt is over $35,000.
• 70% of students graduate college with some form of debt.
• 84% of high school students desire more financial education at school.
• 61% of Americans live paycheck to paycheck.
• 95% of Baby Boomers don't have enough for retirement.
• 50% of Americans have less than one month's income saved.

Why This Challenge is Important:

FOUNDERS 55 believes financial literacy is critical to the well-being and health of families and communities. Excessive debt can lead to depression and despair. Effective financial training can lead to financial stability and success. In a financially literate community, individuals are able to have a positive impact. A breakthrough is critical to enable children, students, parents, and other individuals to make wise financial decisions. This is why we encourage innovators to better identify, address and push for positive change in today’s world.

The Challenge Breakthrough

The goal of this Challenge is to seek insight into financial literacy across the country. It is our desire that people gain a deeper understanding of the basic financial principles, minimizing debt and generating a healthy awareness of financial stewardship.  FOUNDERS 55 hopes the nation's youth and adults will feel less pressured by the media and communication sources, seek wise counsel and focus on making sound financial decisions. We feel the student loan bubble surpassing one trillion dollars is only one symptom of why a solution is necessary. Our nation is at severe risk with low interest rates, expensive schooling and the largest sums of unpaid debt. 

How to Win the Challenge

FOUNDERS 55 will choose from the submissions a winner that clearly identifies and expresses a financial literacy problem, while effectively demonstrating why their submission should be the winner.

Challenge Statement

A breakthrough is critical to enable students, parents and individuals the ability to make wise and informed financial decisions. 

At the close of this Challenge, FOUNDERS 55 will start a second Challenge for solutions to the financial literacy problem that is chosen. Our desire is to produce a breakthrough in financial literacy across our country that will have a lasting impact. 

Duration

The Challenge started October 12th, 2015.

*Local time in Libertyville, Illinois.

CHALLENGE GUIDELINES

1.General Conditions

This Challenge is being conducted by Founders 55 NFP, Inc., an Illinois not-for-profit corporation (“FOUNDERS 55”), physically located at 1509 N. Milwaukee Avenue, Libertyville, Illinois 60048.  In connection with registration for the Challenge each person participating in the Challenge (each a “Competitor”) is required to accept and be bound by these rules (“Challenge Guidelines”), the Challenge Specific Agreement for the FOUNDERS 55 NFP, INC. Financial Revolutionaries Enhancing Education (“F.R.E.E.”) Issue Challenge (“CSA”) and any applicable HeroX Terms of Use provisions.  Any Capitalized terms defined in the CSA, and used, but not defined in these Challenge Guidelines, shall have the same meaning here as in the CSA. 

By accessing or using https://Herox.com/founders55.com (”Site”), you agree to the HeroX terms of use posted at the HeroX.com (“HeroX Terms”).  By making a Submission for consideration in this Challenge, you also agree to abide by any terms of these Challenge Guidelines, the CSA, and by the decisions of FOUNDERS 55 relating to this Challenge, which shall be final and binding in all respects. The Challenge shall be governed by these Challenge Guidelines, the laws of the State of Illinois without regard to conflicts of laws or choice of forum, and applicable U.S. Federal Law.  THE CHALLENGE IS VOID WHERE PROHIBITED BY LAW.  Any ambiguities or conflicts in these Challenge Guidelines, the CSA and/or the HeroX Terms will be resolved by FOUNDERS 55, in its sole, absolute, and exclusive discretion, and all such decisions will be final and binding.  No purchase of any products or services from FOUNDERS 55 is necessary to enter the Challenge or receive the prize.  FOUNDERS 55 reserves the right to modify and add to the Challenge Guidelines and/or the CSA at any time prior to announcement of the winner of this Challenge on the website.

2.Challenge Duration

Participant registration and Submissions will be accepted beginning on

October 12, 2015 at 12:01AM local time in Libertyville, Illinois and ending on February 29, 2016 at 11:59PM local time in Libertyville, Illinois ("Submission Deadline").

3.Participant Eligibility

In order to enter this Challenge and be a Competitor, you must agree to and accept these Challenge Guidelines, the CSA, any applicable HeroX Terms of Use,  and be: a natural person who is a resident of the United States and is age 18 or older; or an employee, officer, member or manager of a business entity, not-for profit corporation, or limited liability company formed, incorporated or registered, and qualified to do business in the United States (including the District of Columbia), entering on behalf of that entity.

You may not enter or win if you: are an officer, director, manager, member or employee of FOUNDERS 55, or of its affiliates, divisions, agents, or advertising or promotion agencies; any other person or entity involved with the design, production, execution, or judging of the Challenge Guidelines; or are a family member, or live in the household of, any of the foregoing persons or entities.

FOUNDERS 55 also reserves the right, in its sole and absolute discretion, to disqualify you if you: tamper with the entry process, the operation of these Challenge Guidelines, the CSA and/or any applicable HeroX Terms of Use; act in an unsporting or disruptive manner, or with intent to annoy or harass another person; violate the CSA; enter more than one (1) Submission to this Challenge; or (e) are otherwise in violation of the Challenge Guidelines, the CSA and/or any applicable HeroX Terms of Use.  Any attempt by you to commit any such acts of misconduct also may be a violation of civil and/or criminal law and FOUNDERS 55 reserves the right to seek immediate equitable and injunctive relief, and/or damages from you to the fullest extent permitted by law.

4. Submission Eligibility

To be eligible to participate in the Challenge, your submission must meet all of the following conditions; (a) Submissions may not contain any ideas, material, or artwork that you do not have the right to use because either they are owned by third parties or are the subject of third party Intellectual Property Rights or they are owned by third parties or are the subject of third party Intellectual Property Rights and you have not been granted a license to use that material or artwork, which license includes the right to submit said material or artwork to the Challenge; (b) Submissions may not intentionally or knowingly include or infringe any third party Intellectual Property Rights; (c) No third party may have any exclusive license or claim of ownership to the Submission or any part thereof. 

Any Submission that contains materials or other items prohibited by United States or other applicable laws, ordinances, rules and/or regulations, shall be ineligible for participation in the Challenge. You may not enter a Submission that contains any nudity, obscenity, defamatory statements, or other offensive or objectionable content.

5. Determination of Winner

           The Challenge winner will be announced and their Submission displayed on the Site not later than May 9, 2016, unless the March 2016 FOUNDERS 55 monthly meeting is postponed. All eligible submissions entered in the Challenge will be judged by FOUNDERS 55 based on:

The Problem/The Impact

*Videos and music must be no longer than 3 minutes.

*Written transcript, narrative, campaign article, brochure, or statement no longer than 3 pages  in a PDF format with 1” margins in 12 point Arial or Times New Roman font. 

Evaluation of eligible Submissions and application of the above criteria shall be conducted by FOUNDERS 55 in accordance with its sole and absolute discretion and judgment.  FOUNDERS 55’s decision in selecting the winning Submission will be final.

6. Judging

A panel of judges (“Judges Panel”) selected by FOUNDERS 55 will vote to select four (4) Submissions as finalists.  FOUNDERS 55 plans to include on the Judges Panel: Mark LeBlanc, Bonnie Richtman, Kevin Coleman, Aki Jackson, Justin Plathmann, and Keith Collins. FOUNDERS 55 reserves the right to substitute other judges and/or to use a lesser number of judges.  FOUNDERS 55 members participating in its March 2016 monthly meeting will vote to decide the Winner of the Challenge from the four (4) finalists.  Subject to certain confirmations identified in Section 8 below, the finalist Submission receiving the greatest number of votes will be the winner of the Challenge.  In the event of a membership tie vote, the Judges Panel will select the Winner from those who tied with the largest number of member votes.  FOUNDERS 55 reserves the right to postpone the vote and the decision.

7. Prize

The winner (“Winner”) will be awarded a prize of $5,000.00 U.S. Dollars (“Prize”).  The Prize will be paid by check.  All taxes, fees, and surcharges on any Prize are the sole responsibility of the Winner.

8. Notification of Finalists and Winner

The Winner of the Challenge may be notified prior to official announcement of the Winner on the Site.  If you are a finalist or a prospective Winner, you may be required to confirm your identity and the other personal information you provided when you entered, and to confirm in writing your agreement to all terms and conditions of the Challenge, these Challenge Guidelines and the CSA.  All finalists will be required to provide additional information for tax purposes. Finalists may also be required to: confirm or provide additional details concerning the circumstances under which their Submission was created, and to provide proof of ownership, and releases from any identifiable persons depicted in, or participating in, their Submission, if applicable. Any requested information and confirmation must be provided within ten (10) days of such request. During that time period you have the option of withdrawing your Submission from consideration.  If a finalist withdraws their Submission from consideration, fails to timely provide requested information and documentation, or is otherwise disqualified, such finalist’s Submission will not be considered.

9. Usage Rights and Personally Identifiable Information

By entering the Challenge each Competitor acknowledges and agrees their Submission becomes available for display by FOUNDERS 55 on the Site.  FOUNDERS 55 reserves the right to use any and all information related to the Challenge, including information submitted by you, in any manner permitted by the Challenge Guidelines, the CSA, and any applicable HeroX Terms of Use.

FOUNDERS 55 will not rent or sell your personally identifiable information.  FOUNDERS 55 will use any personally identifiable information voluntarily submitted by a Competitor or contained in a Submission in connection with the Challenge for the purpose of administering and promoting the Challenge, evaluating the Submission, and for any other lawful purposes, and your authorization providing such personal information shall constitute your authorization of such use.

10. Release and Hold Harmless

By entering the Challenge, to the maximum extent permitted by law, you also release and hold harmless FOUNDERS 55 HeroX and each of their respective advertising and  promotion agencies, web site designers and providers, attorneys, subsidiaries, and affiliates, and each of their respective officers, directors, managers, members, employees, agents, and representatives from any and all damages, losses, liabilities, costs, or expenses of any kind arising out of, or resulting from: (i) any violation by you of these Challenge Guidelines, the CSA, and/or the HeroX terms and/or all statutes, ordinances, orders, regulations, applicable to the Challenge (collectively “Laws”); (ii) the Challenge, your Submission in the Challenge, (iii) your acceptance, possession, receipt, or use of any Prize; (iv) any incorrect, incomplete, or garbled information caused by any technical and/or human error that may occur in the operation of the Challenge, including by way of example and not limitation, printing or typographical errors in any Challenge materials; and (v) any submission, e-mail, or other material or correspondence that has been tampered with or that is stolen, misdirected, incomplete, lost, late, nonconforming, ineligible, or damaged.  FOUNDERS 55 intends to conduct the Challenge in accordance with Laws, the Challenge Guidelines, the CSA, and any applicable HeroX Terms.  FOUNDERS 55 reserves the right, however, at its sole and absolute discretion, to suspend, modify, or terminate the Challenge at any time if it is unable to operate the Challenge as planned (including by way of example, and not limitation, due to administrative difficulties, or technical failures, such as a computer virus, bug, or other form of unauthorized intervention that corrupts the administration, security, fairness, integrity, or proper conduct of this Challenge).  Should the Challenge ever be suspended, modified, or terminated, notice will be given on the Site.  FOUNDERS 55 will make good faith efforts to continue the Challenge after any suspension and to award the Prize based on timely and complete Submissions actually received prior to any termination of the Challenge.

11. Arbitration

In the event a dispute arises between one or more of you, another Competitor, or Competitors, and FOUNDERS 55, factually and/or legally relating to the Challenge (including by way of example and not limitation as to interpretation or application between one or more of the Challenge Guidelines, the CSA, or any HeroX Terms of Use applicable to the Challenge), FOUNDERS 55 shall may resolve the disagreement (“Dispute”) in its sole and absolute discretion and judgment.  Any and all challenges relating to the Dispute, and/or to its resolution by FOUNDERS 55 as provided for herein, shall be resolved by BINDING ARBITRATION (“Arbitration”). Your rights will be determined by an ARBITRATOR and NOT a judge or jury. You are entitled to a FAIR HEARING, BUT Arbitration procedures are SIMPLER AND MORE LIMITED THAN RULES APPLICABLE IN COURT.  

Any Dispute between one or more of you, another Competitor, or Competitors, and FOUNDERS 55 arising out of, or relating to, the Challenge, the Challenge Guidelines, and/or Laws applicable to the Challenge, shall be governed by and construed in accordance with the internal laws of the State of Illinois, without regard for principles of conflicts of laws. Any and all civil actions, claims, disputes or proceedings arising out of, or relating to, the Challenge shall be referred to final and binding arbitration, before a single arbitrator, under the commercial arbitration rules of the American Arbitration Association.  Any arbitration shall be conducted in either Cook or Lake County, Illinois.  Disputing Competitor(s) and FOUNDERS 55 shall select the arbitrator, and if they are unable to reach agreement on selection of the arbitrator within thirty (30) days after the notice of arbitration is served, then the American Arbitration Association shall select the arbitrator. Judgment upon any award rendered by the arbitrator shall be final, binding and conclusive upon you and us, and your and our respective administrators, executors, legal representatives, successors and assigns, and may be entered in a court of competent jurisdiction. You may obtain further information on the arbitration process through the American Arbitration Association (www.adr.org).

12. Waiver of Right To Trial By Jury

You and FOUNDERS 55 each hereby agrees to the maximum extent permitted by law: not to elect a trial by jury of any issue triable by jury and waive all such rights fully to the extent any such right shall now, or hereafter may, exist relating to this Challenge, these Challenge Guidelines, the CSA, or any claim, counterclaim or other action arising in connection therewith.  This Waiver of Right To Trial By Jury is given knowingly and voluntarily, and is intended to encompass each instance and each issue as to which a right to trial by jury would otherwise accrue.

13 Severability of Provisions

If any part of the Challenge Guidelines and/or the CSA is held to be invalid, illegal, or otherwise unenforceable, such part will be modified to the minimum extent necessary to make it enforceable while preserving to the maximum extent possible the original intent of FOUNDERS 55, and the remaining parts of the CSA and the Challenge Guidelines will remain in full force and effect.

14. Jurisdiction, Venue and Forum

Subject to the arbitration requirements of Section 11, above, which shall control, you and FOUNDERS 55 hereby irrevocably submit to personal jurisdiction in the State of Illinois (“State”) and to the exclusive jurisdiction of any State or Federal Court sitting in Lake County, Illinois over any suit, action or proceeding arising out of, or relating to, the Challenge, these Challenge Guidelines, or the CSA.  Jurisdiction and venue of any action relating thereto (“Action”) shall, be in (and if any action is originally brought in another jurisdiction or venue, the action shall be transferred to) a State or Federal Court of appropriate jurisdiction located in the State.  As to this Challenge, You, FOUNDERS 55, and each Competitor entering this Challenge agree: (a) to consent, and submit to, the personal jurisdiction of the Courts of the State and of Federal Courts located in the State in connection with any Action; (b) not to assert, and you hereby waive any and all personal rights under the laws of any other state or country to, object to, or raise lack of personal or subject matter jurisdiction as a defense to, or in, any Action; (c) not to oppose any motion to transfer venue of any Action to Illinois; and (d) not to assert you are not subject to Illinois jurisdiction, or that any Action may not be brought against you, or is not maintainable in Illinois State court, or Federal Courts sitting in Illinois, that these Challenge Guidelines or the CSA may not be enforced in arbitration, or by those courts, that the Action is brought in an inconvenient forum, and/or that the venue for the Action is in any way improper. 

15. Intellectual Property

Subject to any licenses and rights granted in these Challenge Guidelines and the CSA, each Competitor shall own their Submission and retain any Intellectual Property rights the Competitor has therein. "Submission" means any and all materials, concepts, designs, methods, ideas, forms of use and exploitation, data, suggestions, comments, written materials or other communications submitted by a Competitor to FOUNDERS 55 in connection with this Challenge.  FOUNDERS 55 agrees that it will not seek any patent, copyright, trademark, registered design or other protection for any Intellectual Property FOUNDERS 55 or other Competitors, may have created on their own, or may independently create in the future, a design that may be similar or identical to the relevant Competitor's Submission. 

To the maximum extent permitted by law, Competitor waives any right to assert, instigate, maintain, or authorize any action, claim or lawsuit against any one or more of FOUNDERS 55, HeroX, their respective advertising and promotion agencies, web site designers and providers, agents, representatives, and attorneys, together with their respective parents, subsidiaries, and each of their respective officers, directors, employees, managers, members, agents, and representatives for any and all damages, losses, liabilities, costs, or expenses of any kind arising out of or resulting from, or in connection with any claim of infringement of intellectual property rights with respect to the Submission.

The Competitor shall immediately upon becoming aware thereof, notify FOUNDERS 55 of any and all possible or alleged third party claims relating to the Submission, including but not limited to claims of Intellectual Property Rights infringement, in which event, and at which time, Competitor shall withdraw from the Challenge.  Then FOUNDERS 55 shall return Competitor’s Submission to Competitor, and delete said Submission from its records and files.  However, such withdrawal by a Competitor shall not terminate or release the Competitor from any warranties, representations, waivers, indemnifications, releases, hold harmless, arbitration or other obligations relating to the Challenge, Intellectual Property, or facts, events, or circumstances contributing to, leading to, and/or causing withdrawal and/or disqualification of the Competitor’s Submission from the Challenge.

16. No reimbursement or employment

Competitors are not entitled to any compensation or reimbursement for any costs incurred in the preparation of any Submission. The Competitor’s participation in the Challenge does not constitute an offer or guarantee of employment, or a joint venture, or partnership relationships between Competitor and FOUNDERS 55.  In no way are competitors to be construed as the agents or to be acting as the agents of FOUNDERS 55.

17. Personally Identifiable Information

FOUNDERS 55 will not rent or sell your personally identifiable information.  FOUNDERS 55 will use any personally identifiable information voluntarily submitted by a Competitor or contained in a Submission in connection with the Challenge for the purpose of administering and promoting the Challenge, and evaluating the Submission and for any other lawful purposes, and your authorization providing such personal information shall constitute your authorization of such use.

18. Headings.

Descriptive headings are for convenience only and shall not control or affect the meaning or construction of any provision.

19. Time of the Essence.

Time is deemed to be of the essence with regard to all dates and time periods set forth herein or incorporated herein.

20. Incorporation by Reference.

Except as otherwise provided in these Challenge Guidelines or the CSA, all exhibits and other documents linked to, attached hereto, or referred to herein are hereby incorporated in, and shall become a part of, these Challenge Guidelines.

21. Entire Agreement.

These Challenge Guidelines, the CSA, the HeroX Terms (to the extent applicable), and all other documents and agreements expressly referred to herein (including by way of example and not limitation, the arbitration rules and provisions) contain the entire agreement between you and FOUNDERS 55 with respect to the Challenge.

22. No Rule of Construction Against Drafter.

The language used in this Challenge Guidelines, the CSA, and, if applicable, any HeroX Terms of Use provisions shall be deemed to be the language chosen by the Competitors in the Challenge and FOUNDERS 55 to express their mutual intent, and no rule of construction shall be applied against anyone as the drafter.