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Dec 9, 2013

Devon Thorpe’s list of crowdfunding sites for nonprofits

Here is the text from an excellent summary of crowdfunding sources to support nonprofit program and social enterprises.  It was written by Devin Thorpe on his Forbes.com blog.

He neglects to mention Power2give.com which I discuss in my earlier blog on crowdfunding.

I quote verbatim:  If money is the only thing stopping you from doing something good in the world, stop waiting and start doing some good!

Nothing better symbolizes entrepreneurship than fundraising.  Social entrepreneurs are no different.  Today, there are a host of on-line resources for crowdfunding that social entrepreneurs can use to fund their projects, films, books, and social ventures.  Today, I’ll briefly profile eight

  1. Kickstarter.com:  Kickstarter is the 800 pound gorilla in crowdfunding, originally designed and built for creative arts, many technology entrepreneurs now use the site, some reporting to have raised millions of dollars.  The Kickstarter funding model is an all-or-nothing model.  You set a goal for your raise; if your raise exceeds the goal, you keep all the money, otherwise your supporters don’t pay and you don’t get anything.  This protects supporters from some of the risk of your running out of money before your project is completed.
  2. StartSomeGood.com:  StartSomeGood, which I used to raise some money for my book, Your Mark On The World, is great for early-stage social good projects that are not (yet) 501(c)(3) registered nonprofits.   StartSomeGood uses a unique “tipping point” model for fundraising, allowing you to set a funding goal and a lower “tipping point” at which your project can minimally proceed and where you will collect the money you raise.
  3. Indiegogo.com:  Indiegogo allows you to raise money for absolutely anything, using an optional “keep what you raise” model with higher fees or pay less to use an all-or-nothing funding approach.
  4. Rockethub.com:  Rockethub is also a broad platform targeting “artists, scientists, entrepreneurs, and philanthropists” on their site, using a keep-what-you-raise model that rewards you for hitting your funding goal (or penalizes you for failing to hit it).
  5. Pozible.com:  Pozible, run from Australia, has a global platform for all types of projects, emphasizing “creative projects and ideas” and specifically precludes fundraising for charities.   Pozible operates with an all-or-nothing funding model.
  6. Causes.com:  Causes is designed specifically for 501(c)(3) registered nonprofits to raise money.  The fees are low and all donors on the site understand that all of the contributions will be tax deductible.  Causes is widely used to launch “action” campaigns, like boycotts, petitions and pledges rather than fundraising campaigns.
  7. Razoo.com:  Razoo boasts that it has now helped 14,000 causes raise over $100 million.  This site is exclusively for social good causes but is not limited to 501(c)(3), using a keep-what-you-raise model, charging just 2.9% of money raised.
  8. Crowdrise.com:  Crowdrise is a site for 501(c)(3) charities to raise money, with the novelty being that anyone can sign up to volunteer to launch a fundraising campaign for a charity already registered on the site.  Everyone can instantly become a social entrepreneur for a cause they believe in.