Fundraising is a fundamental necessity for nonprofits. Without adequate funding, mission fulfillment simply will not be possible. One trend that has evolved and grown explosively over the past few years (and appears here to stay) is crowdfunding, a social media savvy method of using online technology to reach the masses and rally the troops for various philanthropic causes. Whether a nationally ‘advertised’ event like the ALS Ice Bucket Challenge or #GivingTuesday, or specially designated websites such as GoFundMe.com, crowdfunding efforts have encouraged and facilitated donors who give smaller contributions to collaboratively raise billions of dollars for nonprofit organizations. Remarkably, the average donation for crowdfunding efforts is less than $100 per donor. According to the National Council for Nonprofits, by the year 2025 crowdfunding is expected to become a nearly $100 billon industry – nonprofits cannot afford not to take advantage of this fundraising resource.
Nonprofit organizations can utilize crowdfunding in several ways. First, a nonprofit can take advantage of crowdfunding websites (GoFundMe, Kickstarter, Indiegogo, just to name a few) to publish descriptions of its mission, share pictures of those in need or those who have been helped, or any other creative way to tell their story and secure donations. Going digital makes it easy to spread the word via shares, tweets, and likes, just to name a few. Another method of crowdfunding involves live interaction where large groups of people come together to personally hear and see what a specific nonprofit is all about. Typically, donations are pledged on the spot from inspired attendees. Crowdfunding methods are limited only by the creativity of the nonprofits seeking to take advantage of this modern-day philanthropic phenomenon. Why not give it a go?
So, how to get started? causevox, a fundraising website for nonprofits and social good projects, offers a free 34-page e-book, ‘How to Plan a Nonprofit Crowdfunding Campaign’ designed to empower nonprofits to make the best of their crowdfunding efforts.