DOCSLIB.ORG

Giving USA 2018 the Annual Report on Philanthropy for the Year 2017

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Giving USA 2018 the Annual Report on Philanthropy for the Year 2017 Giving USA 2018 The Annual Report on Philanthropy for the Year 2017 Researched and written by Giving USA Foundation™ thanks our Platinum Supporters and Giving Institute Members, CCS Fundraising and DonorPerfect, for their generous contributions to this year’s report. Giving USA Contributors Virginia Symphony Orchestra, Photo Provided by The Curtis Group Photo Provided Virginia Symphony Orchestra, We are grateful for the generous gifts to Giving USA Foundation for Giving USA and wish to recognize the substantial support from the following contributors. Platinum ($25,000+) Patron ($10,000-$24,999) * * Contribution includes an amount for in-kind services (continued on next page) Giving USA Contributors Benefactor ($5,000 – $9,999) * Committed to nonprofit fundraising success. Partner ($2,500 – $4,999) eeazleyazley B ooundationundation F nnc.c. I since 1948 * Contribution includes an amount for in-kind services Giving USA Contributors Builder ($1,000 – $2,499) Arthur Alley Associated Joyaux Associates Association for Healthcare KCI-Ketchum Canada, Inc. Philanthropy The Lapin Group, LLC Benevon Christopher Looney Maree G. Bullock in recognition Margaret and Tom Mesaros of Jimmie R. Alford QGiv Carlson Fund Raising, LLC TrueSense Marketing Carlton & Company The Yunker Group, Inc. DonorSearch Heaton Smith Group Friend ($100 – $999) Arnoult & Associates, Inc. Sandy Macnab, FAHP, CFRE Brenda Asare Wendy McGrady Josh Birkholz The Monument Group ClearView CRM M. Anne Murphy Evans Consulting Group LLC NeonCRM Falk Consulting LLC Jamie Phillippe Giving Tech Labs Prasad Consulting & Research Global Advancement, LLC Karen Rotko-Wynn Green Oak Consulting Group Sentergroup, Inc. Wendy Hatch David & Patricia Shufflebarger The Hodge Group Aggie Sweeney, CFRE Angela Hodson Bill Tedesco Mary Kaufman-Cranney Sharon Tiknis Diane Knoepke Virgil Scott Consulting, Inc. Jay and Christie Love Winkler Group Laura MacDonald, CFRE Ryan Woroniecki Giving USATM 2018 The Annual Report on Philanthropy for the Year 2017 63rd Annual Issue Researched and written at Publisher Giving USA is a public outreach initiative of Giving USA Foundation. The Foundation, established in 1985 by what is now The Giving Institute, endeavors to advance philanthropy through research and education. Giving USA: The Annual Report on Philanthropy for the Year 2017 is a 2018 copyright of Giving USA Foundation and is researched and written at the Indiana University Lilly Family School of Philanthropy. All rights are reserved. No portion of this publication may be reproduced, whether in print or electronic form, without the written permission of Giving USA Foundation. Permission to reprint excerpts may be obtained by writing to the Foundation. Go to www.givingusa.org for more information about permission requests. For media inquiries at Giving USA Foundation, please contact Stephanie Goldina with Public Communications Inc. at 312.558.1770 or [email protected]. For media inquiries at the Indiana University Lilly Family School of Philanthropy, please contact Adriene Davis Kalugyer, 317.278.8972 or adrldavi@iupui. For research and other types of inquiries, please contact Giving USA Foundation at [email protected] or call 312.981.6794. Citation of this report must use the following text regardless of scholarly style: Giving USA: The Annual Report on Philanthropy for the Year 2017 (2018). Chicago: Giving USA Foundation. Speakers may cite Giving USA. Use of Giving USA’s data or other material in presentations, texts, online format, or other contexts must credit Giving USA as noted in the above sections in a prominent fashion. Stock photos © 2018 by Getty Images. Private images courtesy of The Giving Institute member organizations. Contents Corrigendum . 11 Acknowledgments . 13 Foreword . 17 What Giving USA Can Do For You . 19 Infographic: Total Estimated 2017 Giving . 22 GIVING USA ESTIMATES 1 Key Findings . 25 2 The Numbers. 29 SPECIAL SECTION 3 Disaster Giving . 73 SOURCES OF CONTRIBUTIONS 4 Giving by Individuals . 83 5 Giving by Foundations . 109 6 Giving by Bequest . 133 7 Giving by Corporations . 147 USES OF CONTRIBUTIONS Introduction to the Giving USA Uses of Contributions Chapters . 167 8 Summary of the National Taxonomy of Exempt Entities (NTEE) . 169 9 Giving to Religion . 173 10 Giving to Education . 187 11 Giving to Human Services . 225 12 Giving to Foundations . 243 13 Giving to Health . 255 14 Giving to Public-Society Benefit . 275 15 Giving to Arts, Culture, and Humanities . 307 16 Giving to International Affairs . 333 17 Giving to Environment/Animals . 355 GIVING DATA 18 Data Tables for Charts in The Numbers . 371 METHODOLOGY 19 Brief Summary of Methods Used . 381 20 Glossary . 401 21 Sources of Philanthropic Information . 405 The Giving Institute and Giving USA Foundation . 413 Committees, Advisory Council, and Staff . 414 Professional Code of Ethics . 424 Standards of Practice . 425 Giving USA Acknowledgments 10 | Giving USA FoundationTM | Giving USA 2018 Corrigendum orrection: “Giving To and From Donor- CAdvised Funds,” Giving USA: The Annual Report on Philanthropy for the Year 2016 (2017). Chicago: Giving USA Foundation, p. 69-88. Corrigendum submitted by editors. The chapter on giving to donor-advised funds in Giving USA: The Annual Report on Philanthropy for the Year 2016 (2017) did not provide information about the public-facing report of Fidelity Charitable Gift Fund’s aggregate contributions to its donor-advised fund accounts. While the aggregate contributions do not appear in Fidelity Charitable’s 2016 Giving Report, as cited in Giving USA, aggregate contributions do appear in Fidelity Charitable’s 2015 Annual Report, available here: https://www. fidelitycharitable.org/docs/2015-Annual- Report.pdf. The editors apologize for any confusion caused by this corrigendum. Giving USA FoundationTM | Giving USA 2018 | 11 Giving USA Acknowledgments 12 | Giving USA FoundationTM | Giving USA 2018 Acknowledgments ach year, the Indiana University Lilly Family School Eof Philanthropy (“the school”), Giving USA Foundation, The Giving Institute, staff at Sentergroup, and many others work together to produce Giving USA: The Annual Report on Philanthropy, the most comprehensive and accurate benchmark for charitable giving in the U.S. Not content to rest on our laurels, the team behind Giving USA is always working to make the report more rigorous and more reader- friendly, from collecting data to researching and writing the chapters to the design of the report. None __________________________________________ of this would be possible without our ... the team behind Giving USA is shared commitment to moving the field of philanthropy forward. always working to make the report more rigorous and more reader- I sincerely thank Giving USA Foundation Chair Aggie Sweeney, friendly, from collecting data to CFRE, and The Giving Institute researching and writing the chapters Chair Rachel Hutchisson, for their to the design of the report. commitment to this important project and for providing a vision __________________________________________ of how Giving USA can continue to best serve its readership. I am also grateful to our leadership at the school: Eugene R. Tempel Dean Amir Pasic, Executive Associate Dean for Academic Programs Patrick Rooney, and Associate Dean for Research and International Programs Una Osili are all dedicated to ensuring that the school offers the most timely, rigorous, and important research in the field of philanthropy, including the Giving USA report. Giving USA FoundationTM | Giving USA 2018 | 13 Giving USA Acknowledgments I thank Josh Birkholz, Giving USA Giving USA Foundation for reviewing Foundation Chair of the Advisory our special section on donor-advised Council on Methodology, whose funds in the Giving to Public-Society challenging questions and unique insight Benefit chapter. into the data strengthen our research. In recent years, Giving USA has Additional thanks are due to all of the partnered with current students and scholars, researchers, and leaders who alumni of the school to author the give their time and expertise in their role chapters analyzing trends for the sources as members of the Advisory Council on and uses subsectors. This year, I would Methodology. like to thank both new and returning I am grateful to Jon Bergdoll, the school’s __________________________________________ statistician for his careful consideration of all data associated with the project. I also Giving USA works with respected heartily thank Jon Durnford at DataLake, organizations to acquire up-to- LLC, who worked with our team for the the-moment data and results last two years to improve the quality and timeliness of our estimates. to present in the report. We are A big “thank you” goes to Laura grateful to these organizations MacDonald, CFRE, and Wendy McGrady, and their representatives ... Giving USA Foundation Co-Chairs of _________________________________________ the Editorial Review Board. It was a authors, including: Josh Moore, Ruth pleasure to work with these co-chairs Hansen, Marshawn Wolley, Thad Austin, throughout the year, and I believe that Andy Williams, Rafia Khader, Adam our partnership resulted in chapters that Morgan, Bryan Fegley, Christianna truly reflect the academic rigor of the Luy, Meg O’Halloran, Maarten Bout, school and the expertise and experience Kinga Horvath, and Tessa Skidmore. In of the Editorial Review Board (ERB), addition, I thank Oindrila Bhattacharyya composed of volunteers from Giving and Kayla Allen-Brown, who worked Institute firms.
Load more

Recommended publications
  • Crowdfunding in Asia
    Crowdfunding in Asia May 2018 Introducing the first free directory of crowdfunding platforms across Asia. The data is based on the AlliedCrowds Capital Finder, a database of over 7,000 alternative finance capital providers across emerging markets. Our data has been used by organizations like FSD Asia, UNDP, World Green Economy Organization, GIZ, World Bank, and others in order to provide unique, actionable insights into the world of emerging market alternative finance. This is the latest of our regular reports on alternative finance in emerging markets; you can find all previous reports here. Crowdfunding rose in prominence in the post-financial crisis years (starting in 2012), and for good reason: a global credit crunch limited the amount of funding available to entrepreneurs and small businesses. Since then, crowdfunding has grown rapidly around the world. Crowdfunding is especially consequential in countries where SMEs find it difficult to raise capital to start or grow their businesses. This is the case in many Asian countries; according to the SME Finance Forum, there is a $2.3 trillion MSME credit gap in East Asia and the Pacific. Crowdfunding can help to fill this gap by offering individuals and small businesses an alternative source of capital. This can come in the form of donation-based as well as lending-based (peer-to-peer or peer-to-business) crowdfunding. In order to help entrepreneurs and small business owners to find the crowdfunding platform that’s right for them, we are releasing the first publicly available list of all crowdfunding platforms across Asia. The report is split into two key sections: the first one is an overview of crowdfunding platforms, and how active they are across the largest markets on the continent.
    [Show full text]
  • East Africa Crowdfunding Landscape Study
    REPORT | OCTOBER 2016 East Africa Crowdfunding Landscape Study REDUCING POVERTY THROUGH FINANCIAL SECTOR DEVELOPMENT Seven Things We Learned 1 2 3 4 East African East Africa’s Crowdfunding There’s appetite to crowdfunding platforms report risks and the do business and to markets are on promising regulatory learn more from the move. progress. environment. across East Africa. Crowdfunding platforms Since 2012 M-Changa In Kenya, for example, Over 65 participants at- (donation, rewards, debt has raised $900,000 Section 12A of the Capi- tended the Indaba & and equity) raised $37.2 through 46,000 tal Markets Act provides a Marketplace from all cor- million in 2015 in Kenya, donations to 6,129 safe space for innovations ners of the East African Rwanda, Tanzania and fundraisers. Pesa Zetu to grow before being sub- market. Uganda. By the end of Q1 and LelaFund are also ject to the full regulatory 2016, this figure reached opening access to their regime. $17.8 million – a 170% deals on the platform. year-on-year increase. 5 6 7 East Africa’s MSMEs ex- There are both commercial Global crowdfunding press a demand for alterna- and development oppor- markets are growing tive finance, but they’re not tunities for crowdfunding fast but also evolving. always investment-ready or platforms in East Africa. Finance raised by crowdfunding able to locate financiers. Crowdfunding platforms have the platforms worldwide increased from 45% of Kenyan start-ups sampled re- potential to mobilise and allocate $2.7 billion in 2012 to an estimated quire between $10,000 and $50,000 capital more cheaply and quickly $34 billion in 2015.
    [Show full text]
  • Charitable Crowdfunding: Who Gives, to What, and Why?
    APRIL 2021 Charitable Crowdfunding: Who Gives, to What, and Why? RESEARCHED AND WRITTEN BY Indiana University Lilly Family School of Philanthropy RESEARCHED AND WRITTEN BY — Indiana University Lilly Family School of Philanthropy The Indiana University Lilly Family School of Philanthropy is dedicated to improving philanthropy to improve the world by training and empowering students and professionals to be innovators and leaders who create positive and lasting change. The school offers a comprehensive approach to philanthropy through its academic, research and international programs, and through The Fund Raising School, Lake Institute on Faith & Giving, Mays Family Institute on Diverse Philanthropy, and Women’s Philanthropy Institute. Learn more at www.philanthropy.iupui.edu INDIANA UNIVERSITY LILLY FAMILY SCHOOL OF PHILANTHROPY PROJECT TEAM — Una O. Osili, PhD Associate Dean for Research and International Programs Jonathan Bergdoll, MA Applied Statistician Andrea Pactor, MA Project Consultant Jacqueline Ackerman, MPA Associate Director of Research, Women’s Philanthropy Institute Peter Houston, MBA Visiting Research Associate With special thanks to Dr. Wendy Chen, Dr. Debra Mesch, and Dr. Pamala Wiepking for reviewing the survey questionnaire. The survey was fielded by AmeriSpeak at NORC. The report was designed by Luke Galambos at Galambos + Associates. This research was completed with funding from Facebook. The findings and conclusions contained within are those of the authors and do not necessarily reflect official positions or policies of Facebook. INDIANA UNIVERSITY LILLY FAMILY SCHOOL OF PHILANTHROPY — 301 University Boulevard, Suite 3000, Indianapolis, IN 46202 317.278.8902 / [email protected] / @IUPhilanthropy / www.philanthropy.iupui.edu Contents Introduction ................................................... 02 Key Findings ................................................. 02 Background ................................................... 05 What is Crowdfunding? ......................................
    [Show full text]
  • And Supporter-Based Campaign Networks on Crowdfunding Campaign Success
    University of Texas Rio Grande Valley ScholarWorks @ UTRGV Information Systems Faculty Publications and Robert C. Vackar College of Business & Presentations Entrepreneurship 1-2017 Effects of Donor- and Supporter-Based Campaign Networks on Crowdfunding Campaign Success Bin Wang The University of Texas Rio Grande Valley Babajide Osatuyi The University of Texas Rio Grande Valley Wanrong Hou The University of Texas Rio Grande Valley Follow this and additional works at: https://scholarworks.utrgv.edu/is_fac Part of the Business Commons Recommended Citation Wang, Bin, et al. “Effects of Donor- and Supporter-Based Campaign Networks on Crowdfunding Campaign Success.” Proceedings of the 50th Hawaii International Conference on System Sciences | 2017, 2017, doi:10.24251/HICSS.2017.674. This Conference Proceeding is brought to you for free and open access by the Robert C. Vackar College of Business & Entrepreneurship at ScholarWorks @ UTRGV. It has been accepted for inclusion in Information Systems Faculty Publications and Presentations by an authorized administrator of ScholarWorks @ UTRGV. For more information, please contact [email protected], [email protected]. Proceedings of the 50th Hawaii International Conference on System Sciences | 2017 Effects of Donor- and Supporter-Based Campaign Networks on Crowdfunding Campaign Success Bin Wang Babajide Osatuyi Wanrong Hou University of Texas University of Texas University of Texas Rio Grande Valley Rio Grande Valley Rio Grande Valley [email protected] [email protected] [email protected] Abstract studies, several have revealed the importance of social capital accrued internally on the crowdfunding Driven by the increasing popularity of crowdfunding, platform and externally through the borrower’s and academic researchers have examined the impacts of lender’s friend networks on lending behavior and internal social capital accumulated on crowdfunding campaign success [e.g., 6, 7-9].
    [Show full text]
  • DIGITAL ISLAMIC ECONOMY Special Focus Brief on the Digital Islamic Consumer Services
    DIGITAL ISLAMIC ECONOMY Special focus brief on the Digital Islamic Consumer Services 2015 Part of the State of the Global Islamic Economy Report 2015 SUPPORTED BY: DEVELOPED AND PRODUCED BY: IN COLLABORATION WITH: 30 / 100 / 100 / 50 0 / 100 / 100 / 0 0 / 80 / 100 / 0 0 / 40 / 90 / 0 Dubai the Capital of Islamic Economy Date: 25th February 2013 Andrew Noddings Office 201, Trident Waterfront Brandmark Contact: Shyrose Osman Dubai Marina Dubai, UAE T: +971 55 8803 921 www.theandongroup.com DIGITAL ISLAMIC ECONOMY TABLE OF CONTENTS 4 | Foreword 6 | Executive Summary 8 | Acknowledgements 12 | Defining Digital Consumer-Facing Islamic Services Consumer-Facing Digital Services — Global Context 12 Defining Digital Islamic Services 13 14 | Current Digital Islamic Services Landscape and Key Players Current landscape 14 Digital Islamic Services business models 15 Key players by platform 15 22 | Global Digital Economy Value Profile for Muslim Consumers Total value of Muslims to the Global Digital Economy 22 Muslim spend on E-commerce 23 Digital Ad spend on Muslims 23 Actual Digital Islamic Economy Market Size 23 24 | Key Developments and Trends DIGITAL ISLAMIC ECONOMY Recent activities and key trends in the Islamic Digital Economy 25 28 | Gaps and Opportunities Major unmet needs across the Digital Islamic services spectrum 29 Broader opportunities 31 32 | Challenges 34 | Interviews and Case Studies INTERVIEW: Shahed Amanullah 34 INTERVIEW: Ali Dabaja 36 CASE STUDY: Dubai Technology Entrepreneurship Centre (DTEC) 38 42 | Market Sizing Methodology In the Name of God, the Most Merciful, the Most Beneficent. FOREWORD by Dr Mohammed Alzarooni Vice Chairman and CEO, DSOA In 2013, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, launched a path-breaking initiative - ‘Dubai: Capital of Islamic Economy’.
    [Show full text]
  • Summer Street School
    Summer Street School Newsletter November 2017 Issue 3 Dear Summer Street Families and Friends: What a pleasure to return to school last week and find everything functioning so smoothly! This is a credit to Assistant to the Principal Lorie Kelly and the entire staff! By all accounts, Ms. Kelly did an outstanding job supporting teachers, addressing inquiries from parents, organizing professional development and committee meetings and teaching her fourth-grade students while I was away on my trip. Special thanks as well to Emily Schelzi, a former Summer Street teacher who co-taught Ms. Kelly’s fourth-grade class during this period. Many people have asked me about my trip. My wife, Katy and I over a year ago planned a month-long trip to Rwanda and Tanzania to learn more about these two countries and to see the game. This was my third trip to East Africa but Katy’s first. In Rwanda, we visited the Genocide Memorial Museum and learned about the reconciliation process that has taken place since the 1994 genocide in which almost a million Rwandans were killed within a 100-day period. Having visited Rwanda 28 years ago, just before the strife that led to the genocide erupted, I was amazed by the progress I saw during this trip. Rwanda is a dynamic country experiencing remarkable economic growth. Paul Kagame, the president since 1994, has put in place a number of reforms to both heal and modernize the country, including universal health care, universal primary and secondary education, internet service covering 95% of the country, and a nationwide community service program which requires every Rwandan to complete service in his or her village the last Saturday morning of every month.
    [Show full text]
  • Crowdfunding+Best+Practices+-+
    Disclaimer and Book Information All rights reserved. No part of this publication may be reproduced, distributed, or transmitted in any form or by any means, including photocopying, recording, or other electronic or mechanical methods, without the prior written permission, except in the case of brief quotations embodied in critical reviews and certain other noncommercial uses permitted by copyright law. Email: [email protected] CONTENTS 5 Crowdfunding: The 59 What’s a Great Picture? Big Picture 63 What About Perks 10 Pre-Game Plan and Gifts What to do before the 67 Launch Day campaign begins? What to do the first 24 14 Messaging is Key to hours? the Campaign 73 Running the Campaign Cultivate a Community Media Telling Your Story Updates and 22 Team: Recruit Your Engagement Team and Lock in Timeline Beginning Donations Offline Fundraising Share Connections Efforts to Create Your Advice and Feedback Peripheral Team 84 The Final Push to the 31 Write an Awesome Campaign Goal Crowdfunding Email 89 Appendix 37 Phone Calls are Important 92 Acknowledgements 40 Goal Setting for Fundraising 95 About the author 44 How to Make a Great Crowdfunding Video Crowdfunding: The Big Picture Crowdfunding Best Practices 5 CROWDFUNDING: THE BIG PICTURE What is crowdfunding? As the larger dollar donations, usually name suggests, crowdfunding from a few philanthropic involves asking a crowd of individuals or investors. people to donate money to an Crowdfunding individual project or campaign. allows for small Crowdfunding is another type of donations fundraising, but this fundraising is from many done online. individuals anywhere Crowdfunding works because a around the large number of people donate world.
    [Show full text]
  • Financial Technology Sector Summary
    Financial Technology Sector Summary September 30, 2015 Financial Technology Sector Summary Financial Technology Sector Summary Table of Contents I. GCA Savvian Overview II. Market Summary III. Payments / Banking IV. Securities / Capital Markets / Data & Analytics V. Healthcare / Insurance 2 Financial Technology Sector Summary I. GCA Savvian Overview 3 Financial Technology Sector Summary GCA Savvian Overview An independent investment bank focused on the growth sectors of the global economy 7+ A R E A S O F TECHNOLOGY EXPERTISE . Provider of mergers and acquisitions, private capital agency and capital markets Financial Technology Business & Tech Enabled Services advisory services, and private funds services Media & Digital Media Industrial Technology . Headquarters in San Francisco and offices in Telecommunications Healthcare New York, London, Tokyo, Osaka, Singapore, Mumbai, and Shanghai . Majority of U.S. senior bankers previously with Goldman Sachs, Morgan Stanley, Robertson Stephens, and JPMorgan 100+ CROSS - BORDER TRANSACTIONS . Senior level attention and focus, extensive transaction experience and deep domain insight 20+ REPRESENTATIVE COUNTRIES . Focused on providing strategic advice for our clients’ long-term success 580+ CLOSED TRANSACTIONS . 225+ professionals $145BN+ OF TRANSACTION VALUE 4 Financial Technology Sector Summary GCA Savvian Overview Financial Technology Landscape . GCA Savvian divides Financial Technology Financial Technology into three broad categories − Payments & Banking − Securities & Capital Markets Payments & Banking Securities & Capital Markets Healthcare & Insurance − Healthcare & Analytics Insurance Crowd Funding BPO / IT Services ATMs Bill Payment Digital Media Brokerage Collections e-Brokerage Claims Processing Core Processing Exchanges Collections Financial Outsourcing Hedge Fund Administration CRM Information Processing Index Businesses Document Management Issuer Processing Mutual Fund Processing eCommerce Marketing / Offers Merchant Acquiring Personal Financial Mgmt.
    [Show full text]
  • New Jersey 08540 W E
    The Drumthwacket Foundation sincerely acknowledges the following lenders to the exhibit: Campbell Soup Company, Camden, NJ ILC Dover, Frederica, Delaware Johnson & Johnson, New Brunswick, NJ Mahwah Museum Society, Mahwah, NJ RSL Auction Company, Oldwick, NJ Sealed Air Corporation, Saddle Brook, NJ A T O V I N O N N I i n & N N E W O I J T E N R E S V E N I Y Y E S R The Drumthwacket Foundation E J 354 Stockton Street Princeton, New Jersey 08540 W E Phone 609.683.0057 | Fax 609.924.4563 N I N V E N n T i I O WWW.DRUMTHWACKET.ORG N N O & I T NEW JERSEY I N A N O V INVENTIONA T & INNOVATION in NEW JERSEY O V I N O E N N R S Y I N T I O E E i V N J n & N & W N I N E E I O W N N I N J T O n E V i N O A N R V E T N A N S I T O V I I O E N N I Y & i Y N n E O S N I T R E N The Drumthwacket Foundation E W E J J V 354 Stockton Street E R I N W S Princeton, New Jersey 08540 E Y E Phone 609.683.0057 | Fax 609.924.4563 N I N V E N n T i I O WWW.DRUMTHWACKET.ORG N N September 17 to O & I T November 19, 2014 I N A N O V EUREKA! Invention & Innovation in New Jersey shares with visitors to Drumthwacket amazing everyday inventions invented in the Garden State.
    [Show full text]
  • Signaling in Equity Crowdfunding
    Signaling in Equity Crowdfunding Gerrit K.C. Ahlers,* Douglas Cumming,† Christina Günther,‡ Denis Schweizer§ ABSTRACT This paper presents an empirical examination of which start-up signals will small investors to commit financial resources in an equity crowdfunding context. We examine the impact of firms’ financial roadmaps (e.g., preplanned exit strategies such as IPOs or acquisitions), external certification (awards, government grants and patents), internal governance (such as board structure), and risk factors (such as amount of equity offered and the presence of disclaimers) on fundraising success. Our data highlight the importance of financial roadmaps and risk factors, as well as internal governance, for successful equity crowdfunding. External certification, by contrast, has little or no impact on success. We also discuss the implications for successful policy design. JEL Classification: G21, G24, L26 Keywords: Entrepreneurial Finance, (Equity) Crowdfunding, Micro Lending, Internet, Signaling * A.T. Kearney GmbH, Charlottenstraße 57, 10117 Berlin, Germany, e-mail: [email protected]. † Professor and Ontario Research Chair, York University - Schulich School of Business, 4700 Keele Street, Toronto, Ontario M3J 1P3, Canada, Web: http://ssrn.com/author=75390, Phone: +1-416-736-2100 ext 77942, Fax: +1-416-736-5687, e-mail: [email protected]. ‡ Max Planck Institute of Economics, Kahlaische Str. 10, 07745 Jena, Germany & WHU – Otto Beisheim School of Management, Assistant Professor of Industrial and Innovation Economics, Burgplatz 2, 56179 Vallendar, Germany, Phone: +49 3641 686 825, Fax: +49 3641 686 868, e-mail: [email protected]. § WHU – Otto Beisheim School of Management, Assistant Professor of Alternative Investments, Burgplatz 2, 56179 Vallendar, Germany, Phone: +49 261 - 6509 724, Fax: +49 261 - 6509 729, e-mail: [email protected].
    [Show full text]
  • Everyday People Changing New Jersey
    INSPIRE: EVERYDAY PEOPLE CHANGING NEW JERSEY DRUMTHWAcket 2015–2016 INSPIRE: EVERYDAY PEOPLE CHANGING NEW JERSEY Aubrey J. Kauffman Kay Kenny Donald Lokuta Geanna Merola Klaus Schnitzer Robin Schwartz Jay Seldin Bruce M. White Wendel A. White September 23, 2015 – July 27, 2016 Drumthwacket, Princeton, NJ INSPIRE: NSPIRE: EVERYDAY PEOPLE CHANGING NEW JERSEY partners the non-profit EVERYDAY PEOPLE organizations New Jersey Heroes, which I founded in 2010, and the Drumthwacket Foundation CHANGING NEW JERSEY of which my husband, the Governor, proudly serves as Honorary Chairperson and I serve as President. The Drumthwacket Foundation commissioned nine New Jersey fine art photographers to photograph eighteen individuals honored by New Jersey Heroes. The resulting eighteen black Aubrey J. Kauffman and white portraits captured through the lens of professional photographers Aubrey J. Kauffman, Kay Kenny, Donald Lokuta, Geanna Merola, Klaus Schnitzer, Robin Schwartz, Jay Seldin, Bruce M. Kay Kenny White and Wendel A. White celebrate these remarkable individuals whose hard work and tireless efforts inspire New Jerseyans to give back to their community. The exhibit furthers the Drumthwacket Donald Lokuta Foundation’s fine arts initiative launched in 2012 to curate historical and contemporary exhibits which Geanna Merola recognize New Jersey’s rich cultural heritage and raise pride in our wonderful state. I hope you enjoy the exhibit and your visit to Drumthwacket. Klaus Schnitzer Robin Schwartz Jay Seldin Mary Pat Christie Bruce M. White First Lady of New Jersey Wendel A. White September 23, 2015 – July 27, 2016 Drumthwacket, Princeton, NJ Jerry Walker, Founder, Team Walker Rod Hirsch, Founder, Operation Shoebox AUBREY J. KAUFFMAN Aubrey J.
    [Show full text]
  • Brain Aneurysm
    Ad Populos, Non Aditus, Pervenimus Published Every Thursday Since September 3, 1890 (908) 232-4407 USPS 680020 Thursday, July 10, 2014 OUR 124th YEAR – ISSUE NO. 28-2014 Periodical – Postage Paid at Rahway, N.J. www.goleader.com [email protected] SEVENTY FIVE CENTS Lance Talks Healthcare, Gun Control, Environment at Meeting By LISA HAGEN crat, Independent, or choose not to “I do think that [a carbon tax] would Specially Written for The Westfield Leader participate in the political process,” lead to fewer jobs than would other- MOUNTAINSIDE — While mem- he said. “We conduct our office re- wise be the case, but I certainly favor bers of Congress were back in their garding constituent issues in a com- moving in the direction of cleaner districts for the Independence Day pletely nonpartisan basis.” sources of energy because this will holiday, U.S. Rep. Leonard Lance Meara Nigro of Berkeley Heights be better for the environment,” he (R-7th) held a town hall meeting on asked about his position on climate said. July 2 to give his constituents the change as a reality and the use of Although President Barack chance to ask him questions and share natural gas. She noted that the cost Obama’s administration has not is- their views on current issues. and destruction from natural disas- sued a position on construction of the Recently winning a Primary for his ters caused by greenhouse gases will Keystone Pipeline, which would run House seat reelection, Mr. Lance an- “threaten our long-term economic through Canada and the U.S., Mr.
    [Show full text]