Philanthropic Crowdfunding

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Description

Ross Dawson:

'The principles of crowdfunding are admirably suited to philanthropy, in attracting sufficient funds from many contributors to achieve worthwhile objectives. Arguably almost all charitable organizations rely on crowdfunding in having many donors, however this has traditionally been done using a variety of direct marketing approaches. Crowdfunding techniques that take advantage of connectivity and how they bring together communities of donors help to build new opportunities for philanthropic funding." (http://p2pfoundation.net/Getting_Results_from_Crowds)


Typology

Microfinance

"One of the best known examples of philanthropic funding is the microfinance organization Kiva. Microfinance, which involves providing very small loans to individuals and businesses, usually in developing countries, has been building momentum over the last couple of decades to become a significant economic force in some nations. Kiva uses crowds to fund microfinance projects, in partnership with a variety of microfinancing organizations around the world. Donors can select the specific project or person they are funding and see the outcomes." (http://p2pfoundation.net/Getting_Results_from_Crowds)


Fundraising platforms and aggregators

"Fundraising platforms such as Crowdrise and Razoo enable any nonprofit organization to set up their own crowdfunding initiative. A fundamental aspect of these kinds of platforms is a social element that enables individual donors to connect with others and to bring their own personal networks into the fundraising process.

Other platforms such as Causes essentially act as a front-end for crowdfunding, where funders can allocate their funds to a wide variety of worthy causes. These can attract very large communities that encourage each other and build a deep funding pool. For example Causes’ Campaign for Cancer Prevention has over 6 million members and has raised $400 million." (http://p2pfoundation.net/Getting_Results_from_Crowds)



Examples: Philanthropy, Activism

Fundable

fundable: "A service allowing for the creation and management of fundable "group action" pages where pledges can be accepted. If a campaign does not reach its goal within a set time (14 or 25 days), then all pledges are negated and no money distributed." [1]


First Giving

First Giving: "A service that allows fundraisers to create online person-to-person fundraising pages for any US non-profit. The funds are directly transferred to the non-profit which differentiates firstgiving from other services." [2]


Chip In

Chip In: "Another service for creating pledge drives and campaigns to raise and distribute funds. Similar to fundable.org but the main difference is that chipin.com does not currently require a time limit to reach the target amount." [3]


Robin Hood Fund

"The Robinhood Fund is committed to fulfill as many everyday wishes for as many everyday people as possible. Anyone can submit a wish, and through the wisdom of crowds, wishes are fulfilled. Wishes are divided into two categories with one wish from heartfelt need and one wish from simple greed getting fulfilled. "The Robinhood Fund is different because we allow the crowd – not elite individuals such as a board – to decide which wishes should be granted." [4]


Act Blue

"ActBlue is a Federal PAC that enables anyone — individuals, local groups, and national organizations — to fundraise for the Democratic candidates of their choice. Previously, only the most well-funded and technologically-savvy groups have employed these powerful fundraising methods. But with ActBlue, groups and individuals need only choose their candidates and make their solicitations." [5]

Crowdfunder

"Crowdfunder is a new crowdfunding platform and service. Open to anyone in any country, Crowdfunder allows people to raise funds for almost any type of projects and give rewards to their community of funders


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