Everyone Loves Donation-based Crowd funding

Donation-based crowd funding is the most preferred mode of fundraising, especially in India. A person first creates the campaign and spreads awareness about his cause using social media and other forms of marketing. The person who is supporting this cause is called as a donor. Any donor who relates to the cause is welcome to donate towards the campaign. There is no minimum or maximum amount for donation. A donor is free to contribute as much as he/she likes.

Many social causes can be supported by this kind of funding. There are individuals who aren't as fortunate as us. As they say, "we rise by lifting others"; some people are struggling to make their medical bills and others who look for quality education. You can contribute towards noble causes like this, and help uplift the unfortunate.

Donation-based crowdfunding has turned the scenario in the field of education. Crowdfunding has helped clear the debt of many students. Crowdfunding is a topic which is also being added to the curriculum of many business schools.

Various social causes gain traction both offline and online. It is better to use online methods of crowdfunding if the champion is running short of funds. Online crowdfunding is quite economical compared to offline efforts as traditional means involve a lot of planning, banner designing and it reaches a limited crowd. Crowdfunding through online platforms knows no boundaries, and has the potential to go viral.

Several environmental causes have been fully funded online. Modern day crowdfunding has allowed people to support bigger philanthropic projects without the need of donating lump sum amounts of money. They can know about the importance of the cause, and it increases awareness about the need to support such causes.

Crowdfunding’s Impact on Giving to Education

What if your school could raise more than $2 million in less than 48 hours without making a single phone call? Not only is it possible, one school has already done it. Philanthropic giving to education is increasing, and crowdfunding has changed the way donors are being reached. Nothing is going to replace personal relationships built between development officers and active alumni when soliciting large donations. This change comes in the form of small to moderate-sized contributions and the opportunity the internet provides to reach a much larger group of alumni and potential donors interested in the work your school is doing. Many higher education and K-12 schools have already started to see the impact of crowdfunding on their development efforts.

Since 2014, the practice of crowdfunding for education has been steadily on the rise. In fact, education is one of the most popular categories with philanthropy toward education predicted to grow this year by 6.1%, it’s good to explore every avenue available to your school. Crowdfunding might not bring in huge donations, but it can foster new relationships based on the work being done by your school.