By Nick Robinson
Fundraising can be one of the most challenging aspects of a nonprofit. There are many different nonprofits all competing for a limited number of resources. Crowdfunding has made it a little easier.
Crowdfunding is a fundraising technique that requests for small amounts of money from a large group of people through the internet. There are over 600 crowdfunding platforms available, providing nonprofits with ample opportunity to raise funds.
Modern-day crowdfunding is a relatively new practice; it started to gain mainstream attraction in 2003. The earliest recorded use of the word came in 2006, according to wordspy.com.
Crowdfunding has generated billions of dollars in fundraising for a number of different platforms, from education to technology. For instance, since 2014, organizations and companies fixated on technology alone have raised almost $900 million, per thecrowdfundingcenter.com.
Many organizations and charities have had success stories with utilizing crowdfunding as a source for fundraising. One such story comes from the Jon Bon Jovi Soul Foundation campaign for Hurricane Sandy relief and recovery.
Hurricane Sandy was the deadliest and most destructive hurricane in the last decade, killing roughly 230 people and inflicting billions of dollars worth of damage in several Northeastern states.
The Jon Bon Jovi Soul Foundation utilized crowdfunding to help raise money for their pledge of helping the victims of Hurricane Sandy. One crowdfunding site, in particular, Rally.org, assisted the foundation in reaching their goal.
Rally.org is a crowdfunding website that’s been helping organizations achieve their missions through fundraising since 2009.
Lotika Gulvadi is the Director of Customer Operations for Rally.org.
“Anyone can raise money for something they care about,” Lotika Gulvadi said. “There are no limits, so a charity or nonprofit can raise money indefinitely.”
The Jon Bon Jovi Soul Foundation focuses their efforts on a number of projects from long term housing to hunger. Their work with the victims of Hurricane Sandy was just one of these projects.
“The Jon Bon Jovi campaign was our most popular and successful in our nine year existence,” Gulvadi stated. “Through the generosity of our donors, we were able to raise roughly $57,000 to help the victims of Sandy.”
“Crowdfunding is only just beginning,” Gulvadi said. “We at Rally.org are dedicated to improve countless lives all across the US and with the help of our generous donors and a growing crowdfunding network, we will stay true to our word.”
While crowdfunding hasn’t been around for long, but it’s definitely here to stay.