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Word Count

500 words




1 Day

Assignment Criteria

This is a team project about crowd funding. Our case is community vision ( we have an initiative to raise funds for careers and clients for a Christmas lunch so they can have a small gift too. We will raise $ 10,000 which will be $100 per person for approximately 100 people. This is a social event.

So my part from this team project is to write 500 words about:

Cite relevant, recent examples to back up the applicability of this method for Community Vision. Best practice examples .

So I want at least 3 recent examples for social event of the crowd funding. And one must be from this

If you couldn't related that much to our case (social event) then please relate the examples to what community visions are doing in general.

Write sharp  no need of introduction and conclusion or explanations as other team members are doing it. So please start sharply on citing relevant and recent examples without explaining. For your information this is a report with a lot of sections such as history, strategy etc. but I'm only doing this part (mentioned above in bold).

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Assignment Solution

Crowdfunding has been used, quite recently, to great effect by people and organizations in order to raise finance and support for various social causes. One would do well to take into account the best practices used by some of the successful crowdfunding efforts, especially for social events. We shall take a look at three such examples:

Same Sex Formal 2014:

The Same Sex Formal is organized annually by Minus18 in association with Safe Schools Coalition Victoria, and the Victorian Government. The main pitch of this particular campaign was that the donor could choose to sponsor young people who belong to the LGBT (Lesbian, gay, bisexual, transgender) community to attend this event. Every $40 donation allowed one young person to attend, who, otherwise, would not have been able to afford it. The crowdfunding was hosted on and far exceeded its initial target of $10,000, ultimately drawing up to $12,285 in total. Apart from making the donations completely tax-deductible, Minus18's team networked extensively and diversified its audience. By making an emotional plea, backed up a rational and viable event to promote LGBT rights and awareness, Minus18 managed to create a fertile ground for crowdfunding (Scott).

'Understandascope' Event

This event, organized by Understandascope, was bound to be a successful crowdfunding effort. By inviting a well-known public figure like Charles Eisenstein, who has written several books, to speak on sustainable development, Understandascope managed to convert any passive interest in their effort into positive support. Just like Same Sex Formal 2014, this crowdfunding event was hosted on and exceeded its initial target of $1,500, garnering a total of $1,815. (Understandscope)

Charity: Water

Charity: Water's famous crowdfunding efforts have shown the world how to successfully manage campaigns by making them more visible to the public eye. Out of all the examples cited, Charity: Water is probably considered the best in the non-profit sector (Barbaric). Given its enormous success, crowdfunding campaigns around the world are trying to replicate Charity: Water's model (Shri).

Community Vision can utilize crowdfunding for its initiative by following some of the best practices as observed in the above examples. Ernest Barbaric (The Non-Profit Guide to Successful Crowdfunding) has given a few tips regarding how to raise a successful crowdfunding campaign. Barbaric writes about four essential factors required. Firstly, he discards the notion that crowdfunding gives 'access to thousands of people who are just waiting [to] give money to a worthy cause or project.' (Barbaric) Thus, building upon one's existing community is far more important as most of the contributions shall probably come through people who are already aware of or associated with one's organization. Barbaric also stresses upon starting with smaller campaigns if one is new to the crowdfunding scene. Apart from telling a compelling story that will move its audience, the campaign also needs to reassure its audience as to its genuineness (Barbaric). The audience is concerned about whether the money they pay will be truly used for the right purposes, thus the importance of assurance. But the most important factor is clarity of purpose (Shri). Unless one is perfectly clear about the event, it becomes difficult to convince the audience who might feel that not enough thought has been put into the campaign.

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