Online Fundraising
____________________
Crowdsourcing/Crowdfunding
Kickstarter
International Caucus member Bonnie MacAlister suggested the following:
1) Collaborative projects do very well because each person involved brings people to the table, and the ripple effect ensues.
2) If you get a newspaper article printed about your Kickstarter, that will fuel strangers as donors
3) Ask for less than you need because you can always take more but not less (Kickstarter is all or nothing.)
4) It's 100% marketing, meaningful and concrete rewards, and promotion. If the donor knows that for $20, she gets a catalogue, book, cd, or t-shirt, she will give. She want to own a piece of your project that she funded, and she wants my name on it as an executive producer or in the liner notes.
5) Establish clear need for the funds. If the public thinks the artist has $$ to do it or other sources, they may not fund.
6) Make your video poignant. Make us feel your feelings. Make us want more.
7) Give your donors frequent updates. "We are 28% funded! We can now cast nine doves for the peace sculpture. Only twenty-seven to go!" And thank them repeatedly! Make them want to refer other friends. Ask them to repost. (And ask all of your friends to repost event if they have no funds to give because this generates funds beyond your network.
8) Maximize visibility and use the Kickstarter links on how to send Twitter and Facebook blasts. Link your Twitter to your Facebook, and then you can just post through Kickstarter once, and it hits all three. It also tags Kickstarter so the blasts go beyond your network.
Indiegogo
Indiegogo.com provides more funding flexibility than Kickstarter by charging different fees if you raise your total goal (6%)or if you raise only part of it (9%). Either way, your project gets to keep funds raised. There are reduced rates for verified non-profits - (3% if fully funded, 6.75% if partially funded). Indiegogo campaigns are limited to run for up to 60 days.
Before setting up the account on Indiegogo:
1) Create a title (40 characters) and a short description (160 characters)
2) Create an eye-catching thumbnail image
3) Create a short video that focuses on asking for assistance.
4) Set a funding goal and deadline
5) Create perks for different funding levels ($25, $100, $250...) with short descriptions of the perks.
6) Create the longer script that includes the categories below: short summary, what we need, etc.
Set up an account. If the money will be going to a caucus project, select "A nonprofit institution registered as 501(c)(3) in the United States" and talk to Karin Luner, our Operations Director, about getting our EIN number and setting up the connection between First Giving and WCA. First Giving is required to handle funds from for all non-profits running a campaign through Indiegogo. There is a fee for this service.
Short Summary
Contributors fund ideas they can be passionate about and to people they trust. Here are some things to do in this section:
What We Need & What You Get
Break it down for folks in more detail:
Feel free to explain more about your campaign and let people know how the difference their contribution will make:
Some people just can’t contribute, but that doesn’t mean they can’t help:
Go Fund Me
http://www.gofundme.com/?utm_campaign=Emails&utm_source=sendgrid.com&utm_medium=email
Similar to Indiegogo. You can get all of your funds or set up______. You can create a Wish List - a list of items within your project that donors can choose to fund. You can set up Rewards Levels with perks for different donation levels. Payments are processed through WePay, which his similar to Paypal 2.9% transaction fee + $0.30 fee. WCA does not currently have a WePay account.
Other Online Sources
Fractured Atlas
Members of Fractures Atlas can use Fractured Atlas for fiscal sponsorships. https://www.fracturedatlas.org/site/join/partner/wca. For example, as an artist with a membership, you can use Fractured Atlas' non-profit status in your fundraising efforts.
Apexart
Apexart is a non-profit arts organization in Lower Manhattan that was conceived to offer opportunities to independent curators and emerging and established artists, as well as to challenge ideas about art, its practice and curation. apexart accepts proposals for exhibitions that they will direct and fund under their Franchise Program. http://www.apexart.org/franchise.php
Online Auctions
Bidding for Good
Tax Implications
If the project does not fall under a verified non-profit organization or has established a relationship with one as a fiscal sponsorship, funds raised on crowd sourcing campaigns are considered income. Talk to your accountant for advice and consider this information from Kickstarter http://www.kickstarter.com/help/taxes
Kickstarter
International Caucus member Bonnie MacAlister suggested the following:
1) Collaborative projects do very well because each person involved brings people to the table, and the ripple effect ensues.
2) If you get a newspaper article printed about your Kickstarter, that will fuel strangers as donors
3) Ask for less than you need because you can always take more but not less (Kickstarter is all or nothing.)
4) It's 100% marketing, meaningful and concrete rewards, and promotion. If the donor knows that for $20, she gets a catalogue, book, cd, or t-shirt, she will give. She want to own a piece of your project that she funded, and she wants my name on it as an executive producer or in the liner notes.
5) Establish clear need for the funds. If the public thinks the artist has $$ to do it or other sources, they may not fund.
6) Make your video poignant. Make us feel your feelings. Make us want more.
7) Give your donors frequent updates. "We are 28% funded! We can now cast nine doves for the peace sculpture. Only twenty-seven to go!" And thank them repeatedly! Make them want to refer other friends. Ask them to repost. (And ask all of your friends to repost event if they have no funds to give because this generates funds beyond your network.
8) Maximize visibility and use the Kickstarter links on how to send Twitter and Facebook blasts. Link your Twitter to your Facebook, and then you can just post through Kickstarter once, and it hits all three. It also tags Kickstarter so the blasts go beyond your network.
Indiegogo
Indiegogo.com provides more funding flexibility than Kickstarter by charging different fees if you raise your total goal (6%)or if you raise only part of it (9%). Either way, your project gets to keep funds raised. There are reduced rates for verified non-profits - (3% if fully funded, 6.75% if partially funded). Indiegogo campaigns are limited to run for up to 60 days.
Before setting up the account on Indiegogo:
1) Create a title (40 characters) and a short description (160 characters)
2) Create an eye-catching thumbnail image
3) Create a short video that focuses on asking for assistance.
4) Set a funding goal and deadline
5) Create perks for different funding levels ($25, $100, $250...) with short descriptions of the perks.
6) Create the longer script that includes the categories below: short summary, what we need, etc.
Set up an account. If the money will be going to a caucus project, select "A nonprofit institution registered as 501(c)(3) in the United States" and talk to Karin Luner, our Operations Director, about getting our EIN number and setting up the connection between First Giving and WCA. First Giving is required to handle funds from for all non-profits running a campaign through Indiegogo. There is a fee for this service.
Short Summary
Contributors fund ideas they can be passionate about and to people they trust. Here are some things to do in this section:
- Introduce yourself and your background.
- Briefly describe your campaign and why it’s important to you.
- Express the magnitude of what contributors will help you achieve.
What We Need & What You Get
Break it down for folks in more detail:
- Explain how much funding you need and where it’s going. Be transparent and specific—people need to trust you to want to fund you.
- Tell people about your unique perks. Get them excited!
- Describe where the funds go if you don’t reach your entire goal.
Feel free to explain more about your campaign and let people know how the difference their contribution will make:
- Explain why your project is valuable to the contributor and to the world.
- Point out your successful track record with projects like this (if you have one).
- Make it real for people and build trust.
Some people just can’t contribute, but that doesn’t mean they can’t help:
- Ask folks to get the word out and make some noise about your campaign.
- Remind them to use the Indiegogo share tools!
Go Fund Me
http://www.gofundme.com/?utm_campaign=Emails&utm_source=sendgrid.com&utm_medium=email
Similar to Indiegogo. You can get all of your funds or set up______. You can create a Wish List - a list of items within your project that donors can choose to fund. You can set up Rewards Levels with perks for different donation levels. Payments are processed through WePay, which his similar to Paypal 2.9% transaction fee + $0.30 fee. WCA does not currently have a WePay account.
Other Online Sources
Fractured Atlas
Members of Fractures Atlas can use Fractured Atlas for fiscal sponsorships. https://www.fracturedatlas.org/site/join/partner/wca. For example, as an artist with a membership, you can use Fractured Atlas' non-profit status in your fundraising efforts.
Apexart
Apexart is a non-profit arts organization in Lower Manhattan that was conceived to offer opportunities to independent curators and emerging and established artists, as well as to challenge ideas about art, its practice and curation. apexart accepts proposals for exhibitions that they will direct and fund under their Franchise Program. http://www.apexart.org/franchise.php
Online Auctions
Bidding for Good
Tax Implications
If the project does not fall under a verified non-profit organization or has established a relationship with one as a fiscal sponsorship, funds raised on crowd sourcing campaigns are considered income. Talk to your accountant for advice and consider this information from Kickstarter http://www.kickstarter.com/help/taxes