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Crowdfunding 101

Crowdfunding 101. Help others help you! . Ariel Alexovich a riel.alexovich (at) gmail.com 9/1 5/13. Meet the girls. Crowdfunding can help.

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Crowdfunding 101

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  1. Crowdfunding 101 Help others help you! Ariel Alexovich ariel.alexovich (at) gmail.com 9/15/13

  2. Meet the girls

  3. Crowdfunding can help • Crowdfunding is “the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet.” (Google definition) • Most of us are not millionaires, but we still want to help • With crowdfunding, helping is easier than ever • The average crowdfunding campaign lasts about 9 weeks and raises about $7,000. (visual.ly)

  4. Benefits of crowdfunding • Get more people involved and invested in your mission = awareness • Participants feel engaged with the school • Cross geographical barriers • Grandma in California can donate to build Suzy’s school gym in Chicago • Connect with alums who’ve moved away • Find donors in their living rooms • Easy to share links to fundraising websites via email, social media, smartphone apps • Safe and secure payment by credit card • No checks = less paperwork

  5. Crowdfunding sites • Kickstarter • Primarily for arts; one of the first to create “reward levels” for donors • Indiegogo • Has a dedicated nonprofit section, making it popular with grassroots orgs • Crowdrise • Popular with individuals, a.k.a. “person-to-person” fundraising • Rockethub • Offers “Success School” tips for setting up and managing a campaign • StartSomeGood • Largely for nonprofits or socially conscious businesses • GiveForward • Crowdfunding for medical bills — perhaps helpful in rallying school community around an ill student or parent And many, many more …

  6. Obvious questions • Is it free? • No. The sites earn money by taking a 3-7% cut of funds raised. • Do your research—some offer better deals for registered nonprofits. • Is this legal? • Yes. People making donations to your school online can receive tax credits, so be prepared for that paperwork. • The gray area generally comes with regard to crowdfunding for lending or equity purposes. • How do I collect my money? • Most sites (i.e., Kickstarter) won’t let you collect any money unless you reach your pre-established goal within a certain timeframe. Other sites will transfer any money you earn within a set time period regardless of whether or not you reach your goal.

  7. Let’s see it in practice

  8. The Kenyan girls, with help from a local nonprofit, set up a page on Indiegogo. They wanted to raise $6,000.

  9. They promoted their campaign on Facebook…

  10. … they promoted it on Twitter …

  11. They exceeded their goal! Thanks, donors! Now they can stay in school all year.

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