Craig Newmark: Latest Data on Cracking the Crowdfunding Code

crowfunding5bCraig Newmark,  founder Craig’s list | craigconnects | March 19th, 2014 – It’s the third anniversary of craigconnects, and we’ve really tried to bring good people together to raise money for their nonprofits. We did a lot of support through crowdfunding, and  to celebrate, the craigconnects team and I created an infographic, Cracking the Crowdfunding Code, to show you just how effective and accessible crowdfunding is. Crowdfunding raised more than five billion dollars worldwide in 2013, and peer-to-peer nonprofit fundraising for charities is seeing explosive growth.

A few things that we discovered after researching crowdfundings impact on charities and interviewing prominent crowdfunding platforms such as Causes, Causevox, FirstGiving, Razoo, StayClassy, etc:

  • Over 28% of donors on crowdfunding platforms are repeat donors.
  • Fundraisers who use a video raise 2x more than those without videos.
  • More than $19M online donations were processed on #GivingTuesday in 2013.
  • Over $9,000 on average is raised on nonprofit campaign crowdfunding pages.

Other infographic findings detail various crowdfunding results such as the average online donation to campaigns, more data on the success of the crowdfunding initiative #GivingTuesday, and best practices of nonprofits that have raised a significant amount of money with this newer fundraising tool.

Folks, I’ve worked on four crowdfunding campaigns myself in the past three years, and I’m pretty pleased with the results. The campaigns included two that raised funds for vets and milfam organizations, another for Hurricane Sandy relief, and the Holiday Challenge that was open to all nonprofits. I’ve teamed up with prominent crowdfunding platforms to promote the campaigns and have donated prize money for the orgs that raise the most in order to stimulate competition and success. The campaigns I’ve worked on have raised an estimated total of $2.6 million.

I began the craigconnects initiative in March 2011 to organize my efforts to help support nonprofits working in my areas of focus. Crowdfunding’s a natural fit for craigconnects’ efforts to promote the use of tech for the public good because it involves grassroots efforts and involvement. I’m not much for top-down stuff. I only understand bottom-up stuff.

Please check out the infographic, and share it if you think it’s helpful.

http://craigconnects.org/2014/03/crowdfunding-infographic.html

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