CivicSponsor

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CivicSponsor is a new crowdfunding/peerfunding site dedicated to public projects (i.e., projects that benefit communities as a whole).


Description

"Their model is to work directly with local governments to find projects that are ready to be built but that require additional funding. In these cases, local citizens basically have only two options: pay more taxes or don't get the project. CivicSponsor is building out a platform for local governments to offer a third option: allow the citizens to crowdfund the projects and receive a tax deduction.

As a citizen, it gives you power over how your public dollars are being used: either government builds your project or they don't get your money. Also, if you pay the AMT, it's beneficial for you to fund projects this way, since local taxes are not deductible for purposes of calculating your AMT obligation but charitable contributions (which most projects on CivicSponsor are eligible for) are.

In summary:

  • CivicSponsor allows you to take control over your public dollars.
  • In most cases, you are directly funding your local government, but at your choice (i.e., not through taxes).
  • In most cases, your contributions to CivicSponsor are tax-deductible.
  • All projects on CivicSponsor benefit the community as a whole and could not be built unless additional funding is provided."