Non-profit Needs to Know about Crowdfunding
Online crowdfunding has exploded in popularity among non-profits of all sizes and types in the past few years. And it’s easy to understand why: an estimated $5.5 billion was donated through online crowdfunding sites in 2015.
Expands Fundraising Capacity:
Alison Carlman, the Director of Impact and Communications for GlobalGiving, a non-profit crowdfunding organization that has connected donors, non-profits and companies in over 170 countries, says that crowdfunding does more than generate dollars. “Our partners have described how their experience on GlobalGiving has helped them build their teams, develop processes, establish new relationships and revitalize old ones.”
Comparing Online Crowdfunding Options
Crowdfunding sites differ in philosophies, features, and mechanics, so FoundationSearch suggests that non-profits ask the following questions when comparing platforms.
What are the vendor and credit card transaction fees? Though most platforms offer free or low-cost versions, your campaign may be more successful by paying for additional features and support. Payment options now include one-time contracts, monthly and annual subscriptions, and goal-based fees.