Fundraising in Education

Screen Shot 2015-09-26 at 11.12.30 AMIn today’s fiscal climate, educational programs are struggling to continually provide quality services to students. Many programs are attempting to move from traditional fundraising efforts to crowd funding, a fundraising effort used by programs to expand their donor base and raise money from a large number of people. Projects are marketed through the use of online sites. Whle the crowdfunding industry earned $5.1 billion dollars worldwide, the majority of crowdfunding efforts do not reach thier intended goal. Learn more about creating a successful campaign.

Image from Scott Metzger Cartoons 

Make sure you have a product that works for crowd funding.

  • Raise funds for a specific project, not for a general idea.
  • There should be a sense of urgency / timeliness.
  • Causes that touch people’s hearts can be successful.
  • Raising money for personal causes that are obscure rarely work.

Set a realistic funding goal.

  • Include a Breakdown of Donation Spending.
  • People want to know where their money is going. They need to know their donation is making a difference and their money is well spent.

Select the crowd funding platform and type of funding.

  • Keep-it-All (KIA) – The creator keeps the funding, even if the funds don’t meet or surpass the goal.
  • All-or-Nothing (AON) – The creator keeps the funding if — and only if — the goal threshold is met.
  • Tip: Understand your platform. Some claim to be free but charge donors up to 15% of their donation and you still pay processing fees.

Create the plan.

  • Pre-Planning
    • Plan to spend 3 to 6 months before a crowdfunding campaign launches to hone the project, create the support materials, build a following for the launch on social media, and reach out to potential supporters.
    • Promote the campaign to current contacts about 3 months in advance of the launch.
    • Write and schedule all the social media postings and emails.
  • Contact media sources to build interest.
    • TIP: Successful campaigns have about 30 percent of the goal committed through an initial network of close connections before it’s launched.

Develop your story. Crowd funding is all about stories.

  • How will you turn your idea into reality?
  • Explaining why you need support is as important as the end product.
  • Make sure all support materials exist.
    • A company website is recommended. It legitimizes the program.

Launch the crowdfunding campaign.

  • Plan on constantly engaging the audience through social media and press releases.
  • Campaign should run between 30- 45 days.
  • Commit time to answering questions, responding to inquiries.

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