Crowdfunding is not a new concept in this new Web 2.0 digital world. It has been in use for more than a decade now and it has been an excellent platform for acquiring funds related to a cause, project or campaign from the crowd itself.
Realizing the power of this concept, Charles Best, a History teacher in a New York public high school, had an idea to set up a Crowdfunding platform that would help schools like his to generate funds for school supplies, field trips, or any other essential stuff needed for the education of pupils in the school. And, then DonorsChoose.org was born and it became a revolutionary example in the industry showing how Crowdfunding can be the answer to all the financial hurdles faced at public schools and universities.
After one and a half decade of its inception, DonorsChoose.org has helped over 15 million students and funded about 600,000 projects. That simply proves that every school or university around the globe must adopt the Crowdfunding concept and set up a Donation Crowdfunding platform to fulfill the needs and requirements of the premises as well as the students and their projects.
How Crowdfunding can help Schools/Universities?
Most of public schools or universities can’t afford all the expenses for the facilities to be at par with private institutions. The students at these schools are deprived of such facilities and fall behind just because their school isn’t capable of providing the best education for them.
This is where Crowdfunding can play an essential role in helping these schools to get the resources and supplies essential for their students by managing funds from the crowd or the people around them. It has already been tried and tested by the efforts of Charles Best and his brainchild DonorsChoose.org
So, for what things Crowdfunding can help Schools/Universities with?
Now, most of the public schools/universities are designed to provide basic education and care to the students. However, with the emergence of private schools and institutions, the basic education is not basic at all but it has upgraded to a whole new level that public schools can’t afford today.
Here are some of the essential requirements for which Crowdfunding can be the ultimate solution at public schools or universities:
Classroom education is not enough today for students to develop their knowledge. They must be taught to communicate, interact and live independently in the outer world. Regular field trips are the need of the day at schools and universities that help in the overall development of a student.
Now days, many schools and universities encourage group studies and student clubs. Like minded students can unite together for a social, educational or technological campaign and with combined efforts work towards one goal. Such clubs help students learn the importance of a team and train them to be a team player.
Sports Team Encouragement:
In most schools, the emphasis is always on books and studies. However, many institutions ignore the fact that sports are also equally important for the development of a student’s character and his/her attitude towards life.
Scholarships are the best way to encourage the students to up their ante. It develops a healthy competitive mindset in a student and boosts his/her morale to win that scholarship.
Many schools fail in providing the basic supplies to each and every student at the school. Lack of funds is the major reason for such scenario and only public donations can come handy to fulfil these needs.
With the startup boom and innovative minds at school or universities, many institutions encourage student entrepreneurship programs to provide wings to their ideas. Such programs help in developing leadership qualities among students that would come handy in their future growth.
Why every school must build their own Crowdfunding portal?
In the past few years, we have seen a major rise in the use of Crowdfunding platform for several causes, startups, campaigns as well as social projects. However, this concept is not just limited to the NGOs or small startup businesses today. Many schools and universities have successfully received adequate funding through this platform whether for charity actions to provide school supplies or research into some new innovative ideas from students.
Even students are found active on such Crowdfunding platforms in promoting themselves and adding valuable experiences. Meanwhile, schools are able to cut some costs by generating funds through this platform from generous donors, who lend their hands in support for the projects that they find interesting.
There are many success stories around the globe where Crowdfunding has played an excellent part in helping schools and universities. The platform has helped in generating necessary donations for certain requirements at schools/universities during the time when these institutions were lacking in sponsors or funds.
Success Story #1
DonorsChoose.org can be considered as the first success at using Crowdfunding as an effective idea to generate necessary funding for many different schools in the United States. It was the brainchild of Charles Best, a history teacher at New York Public School. He got the idea to set up an online platform like DonorsChoose.org after he started spending his own money to buy supplies for students that the school didn’t provide.
This generous habit prompted him with an idea that if the needs or requirements of the school are brought to the attention of the world, it may get us the necessary funding. Undoubtedly, internet was the only best way to reach the world quickly in a cost effective manner. As of today, his Donation Crowdfunding platform for school has generated more than $334 million dollars from more than 1.7 million donors.
Success Story #2
Another success story comes from Carleton University and their FutureFunder initiative in 2012. The idea behind setting up FutureFunder was to generate micro-donations for the university online. However, the Crowdfunding idea was already at its peak during the time FutureFunder was launched, it was tremendous to notice that in just 1.5 years of its existence, online donations almost tripled for the university.
The main reason could be that the University encourages smaller, less ambitious funding goals. It is often seen that the lower funding goals are achieved faster and their success ratio is also quite high. However, the University has no limit for the scope of a project. Also, unlike traditional Crowdfunding platforms like Kickstarter, if the project doesn’t reach their funding target, the University jumps in and match the funds from the donors or sometimes approves the seed-funding even if its half-way there.
Over to you!
Now, you must be convinced that Crowdfunding is the right and an effective way to acquire funds for schools/universities looking for generous donations. But, the big question here is how to set up a Crowdfunding platform at a cost effective manner.
Here’s where our white label crowdfunding software can help you! We will assist with your own custom made Crowdfunding platform to raise funds for the projects at your school or university.
Get in touch with us today to find more details on how it works!