The below report from Nesta and NVCO suggests the Charity fundraising sector should invest more into developing skills to help generate revenue from crowdfunding.
“Crowdfunding is in some respects a very old form of finance, used to fund numerous public works, monuments, statues, churches and mosques in the past. It’s a simple idea: if many people contribute small amounts, even costly projects can happen. One of the most cited historical examples of this is how the plinth for the Statue of Liberty was crowdfunded through public subscription in 1885.”
“Crowdfunding can help projects that would otherwise struggle to get funding, as well as increasing the amount of volunteering, improving transparency and helping to find new ways to increase awareness of social issues.”
The digital age has revolutionised the way we go about crowdfunding our charity ideas through. Going online has enabled people, projects and organisations not only to find new sources of much needed finance, but also to build online communities of supporters who can help them design and promote their crowdfunding projects.
Below is a link to the full report (51 pages, PDF):
If you have the opportunity to read it, we’d love to receive your thoughts and feedback.