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Edutopia-Crowdfunding-Guide.Pdf RAISERAISE MONEYMONEY FOR YOURYOUR SCHOOLSCHOOL Using * CROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDING CROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGHow to use online tools to generate funds CROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGCROWDFUNDINGfor everything you need – including school supplies, events, special projects, and more. The funding of a project by a large number of supporters who each contribute a small amount IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII CROWDFUNDING FOR SCHOOLS 1 What Is Crowdfunding? 2 Advice from Experienced Crowdfunders: Ten Steps for Planning and Managing a Successful Campaign STEP 1 Assemble Your Team STEP 2 Identify Your School’s Needs and Determine the Funding Timeline STEP 3 Identify Your Network STEP 4 Choose a Crowdfunding Platform STEP 5 Write a Project Description and Tell Your Story STEP 6 Craft a Project Video or Slideshow STEP 7 Brainstorm Perks STEP 8 Kick Off Your Launch with a Bang and Keep Charging STEP 9 Update Your Network STEP 10 Celebrate and Debrief Your Campaign 5 Seven Crowdfunding Mistakes 6 Scorecard: Comparing Education Crowdfunding Platforms IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Edutopia Table of Contents Raise Money for Your School Using Crowdfunding IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII WHAT IS CROWDFUNDING?CROWDFUNDING? “Become a part of Roger Sherman’s History!” announced the elementary school’s parent-teacher and allows campaign organizers association on Fundly when they invited donors to announce progress. Each plat- to raise money to buy six interactive whiteboards form strives to make the pitch and payment process frictionless. and multimedia projectors. Through corporate In an article by Joe Garecht, matching and crowdfunding, 228 donors helped founder of The Fundraising Au- thority (thefundraisingauthority. them exceed their $34,000 goal by almost $6,000. com), a website of resources for Final total: $39,992. nonprofits, he cautions, “Crowd- funding sites work best for fund- ing specific projects or campaigns, and do not work well for general fundraising or things like annual giving.” Although there are nota- Crowdfunding is a type of crowdsourc- According to “2013CF-The Crowd- ble exceptions to this maxim, concrete ing in which projects are funded by col- funding Industry Report,” crowdfund- deliverables and novelty are critical for lecting often small amounts of money ing services successfully supported motivating a community to donate. from a large number of people, usually more than one million projects, across Crowdfunding campaigns are bond- via a website that facilitates the pro- 308 platforms, in 2012 (raising $2.7 bil- ing events; they enhance school-com- cess. Community leaders, PTAs, teach- lion) and are expected to raise more munity alliances. Through storytelling ers, principals, parents, and students than $5 billion in 2013. and community outreach, campaign of all ages are using the crowdfunding Each platform differs, but the funda- organizers and funders can become model of Internet fund-raising for their mentals are the same: A campaign man- emotionally invested in the same out- schools. As a result of the economic ager posts a page within a crowdfunding come, resulting in long-term support — climate and budget cuts, many criti- service that explains the school’s needs financial and social — for schools. More- cal education services and materials and funding goals, she or he builds over, accountability to the public helps have been eliminated. So, community buzz with social media and encour- educational initiatives stay on track. A stakeholders have turned to crowd- ages the community to contribute, and campaign for the Academy for Global funding services to connect classroom the crowdfunding site typically accepts Citizenship, a Chicago public charter needs with multiple contributors. credit card payments from contributors school wanting to build a “net-positive IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Edutopia page 1 Raise Money for Your School Using Crowdfunding IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII EXPERIENCED CRO campus,” wrote on its Indiegogo crowd- ROM WDF E F UND funding page: “This campaign is about VIC ER grassroots growth: spreading our vision AD S: to reimagine the role of the school in a community one passionate individual at a time. It is also about empowering advocacy in our current community. STEPS Every time you share this link, you are STEPS exponentially increasing the impact of this project.” Over 630 donors helped them exceed their $50,000 goal. Final total: $53,780. Yes, crowdfunding can yield big pay- offs for schools, but only when a cam- paign is planned carefully and executed FOR PLANNING AND tenaciously. Many nonprofit groups “make the mistake of thinking that MANAGING A SUCCESSFUL CAMPAIGN Think of the different groups PLANNING that might donate to your PLANNING school — alumni, community members, parents, local STEP 1: Assemble Your Team business owners — and answer Assign campaign members to roles based on their skills. For large financial goals, you could need as many as ten to 15 two questions: “Why would people to a) communicate with the local media; b) target your group X want to contribute? network with social media; c) compose a project description; d) write, design, copyedit, and send out newsletters, blog What’s in it for them?” posts, and emails; e) script, storyboard, shoot, act in, edit, and publish videos; f) take campaign photos; g) set up a funding booth at local events; h) manage perks; and i) coordinate campaign “thank you” letters and celebrations. For smaller campaigns, you may be able to double up on some of these roles. Either way, you’ll need an implementation plan and these [crowdfunding] sites are magi- team ready to facilitate the project after funds are received. cal cures for all of their revenue woes,” Garecht warns on his website. “Crowd- STEP 2: Identify Your School’s Needs funding sites can be a huge help, but and Determine the Funding Timeline they are not a fundraising panacea.” In a What are your school’s or classroom’s specific needs? You can USA Today article, Yancey Strickler, the always create several smaller consecutive campaigns (often cofounder and head of communications called “progressive funding,” in which you collect all funds for crowdfunding platform Kickstarter raised, whether or not you reach your goal), rather than (kickstarter.com), observes, “It takes risking a massive “all-or-nothing” fund-raiser that is too work to get a project funded. You have ambitious to pull off. to spread the word.” Some experts advise that you run a shorter campaign — Crowdfunding is a powerful tool; it for example, 30 days — to keep interest high. A typical length can bring dreams to life if done well. The is 45 days, though there are campaigns as short as ten days tips below will improve your chances and some as long as 90. Depending on the platform, it may for success. be okay to secure the majority of a project’s funds and crowd- IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Edutopia page 2 Raise Money for Your School Using Crowdfunding IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII fund the rest, as long as you keep this arrangement transparent. Next, pin down precisely how the money will be spent and what the re- sults will look like. Elizabeth Mon- da, a fourth-grade teacher at Corn- ing Achievement Elementary School “This isn’t about a begging bowl! in Memphis, used crowdfunding site Especially in case of small, PledgeCents to raise $3,500 for a school garden and in another campaign raised community projects — you’re trying $505 for study carrels. “It could be a field to do something really incredible and trip or more pencils in the classroom,” by talking to potential donors, she told Memphis Business Journal. you’re giving them the opportunity “You can put anything on PledgeCents.” to be part of that.” Amy Cameron, coordinator of the STEP 3: Identify Your Network 10:10 Solar Schools Project in the UK Brainstorm a list of potential funders. Start with everyone in your team’s network. They’ll be contacted first. Then you’ll want to identify who from that network would be able to activate other supporters. Think of the differ- ent groups that might donate to your school — alumni, community members, parents, local business owners — and answer two questions: “Why would group X want to contribute? What’s in it causes. Sites that are user-friendly for derstand how the site interacts with con- for them?” Writer and researcher Erica PTAs tend to support schoolwide proj- tributors. Friedman, in a Quora crowdfunding ects, rather than a few specific classroom exchange (quora.com/Crowdfunding/ items requested by an individual instruc- STEP 5: Write a Project What-are-attributes-of-successful- tor. More unusual requests may find more Description and Tell Your Story crowdfunding-projects),
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