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Is crowdfunding a viable option for raising funds?

9/21/2013

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This post, this one and another one, all provide lists of best (or top) crowdfunding platform to help non-profit organizations and charities to raise funds for their causes and projects.

Most of the differences are on the type of causes/projects supported, the targeted organizations, and the included features.

Also an element of differentiation is the price (or better commission) that the crowdfunding platform applies to their customers. Usually a fee between 3-7% is charged, which usually includes also the payment fee. Some of them also charges a monthly or annual subscription fee.

Only one site provides tangible rewards to donors through a loyalty program: CrowdRise. Although this feature is buried in the site, it is available to donors through collection of CrowdRise Impact Points (CIPs).


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As you can see the rewards are mostly merchandising gadgets or opportunities to support other causes. CrowdRise describes it in this way:

You get Crowdrise Impact Points (CIPs) for being really good at Crowdrise. That means raising lots of money for charity, donating to other fundraisers and getting votes from your friends and enemies.  Your Crowdrise Impact Points (CIPs) are definitely a reflection of your charitable life.  You can redeem your CIPs for charitable causes or for the best Crowdrise tees, hats and hoodies. 

We of course believe it is a good thing, but not enough to incentive donation in a systematic way. If points are collected, the donors should redeem them for what they really want: they must have a real value, not just a symbolic value.

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