November 11, 2016
When nonprofits face budget crises like the past state budget impasses in Pennsylvania and Illinois, crowd funding campaigns become the go-to problem solver which helps organizations raise dollars. Crowd funding is defined as the practice of funding a project or venture by raising small amounts of money from a large number of people, typically via the internet. Crowdfunding originally was designed for entrepreneurs, but the nonprofit community quickly adapted the concept. Several charitable organizations have seen success through crowdfunding campaigns. With platforms such as Kickstarter, Indiegogo, Razoo and CauseVox, the art of fundraising is becoming more social, amplifying local nonprofits and their message louder than ever. Here are a few crowdfunding tips to help your organization’s next big fundraiser.
Clearly laying out the precise purpose for raising money eliminates any questions or hesitation donors may have. Be transparent and let it be known where the money donated will be working. It is also helpful to include specific organizational information about past successful fundraisers.
Some of the best crowd funding campaigns have a killer story behind them. A heartfelt and captivating story will resonate with donors and activate the spirit of giving. Robert Wu at CauseVox.com says there are 4 classic storylines that perform well with nonprofit crowd funding: 1) Overcoming the monster, 2) Rags to riches, 3) Quest, and 4) Tragedy.
Many times, nonprofits think they can just put up a campaign and the dollars will automatically just start rolling. That couldn’t be further from the truth! For a successful crowdfunding campaign, it takes some strategic planning. Start getting the message out to your donors through email, in person, or through social media about a specific new campaign to raise funds. Build a strong base prior to any campaign by leveraging current donors to ensure a successful campaign.
These are just a few tips to assist in creating a successful crowdfunding campaign. When used correctly, crowdfunding can be a great resource to mobilize donors in a short amount of time for a worthy cause. Giving Tuesday is right around the corner! Take the time to build a solid crowdfunding campaign for your nonprofit and let us know if any of these tips were helpful.
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Visually Impaired Preschool Services has been a client of First Non-Profit since it was first offered as a benefit of VisionServe Alliance. We completed a thorough evaluation of cash savings to our agency before taking advantage of this wonderful benefit and it has been a very wise decision. Our experience with the processes from accounting to claims have been professional, expeditious and easy.
The Ensight Skills Center has enjoyed working with First Nonprofit for several years. We are enrolled in their Unemployment Savings Program and although we have not required a lot of intervention, there have been a few times. I know others have dealt with the same problem of unemployment fraud over the last year and in our case, a call to First Nonprofit (they actually answer their phones) cleared up the issue. They also sent us a letter to send to all our employees telling them what they needed to do to prevent this in the future and protect themselves. What a relief! Over the years if I have questions or concerns, they are happy to listen, advise and help if they can. Another BIG advantage of using First Nonprofit is that all the money that is paid into the Unemployment Savings Program lives on my balance sheet as an asset. The money continues to be Ensight’s not the governments. First Nonprofit has certainly given me peace of mind.
In addition to their money-saving purpose on behalf of nonprofit organizations like AHS, First Nonprofit’s Nonprofit Unemployment Fund streamlines the information we need to efficiently manage unemployment claims. Our relationship with NU Fund gave us access to such things as advice on planning for what’s ahead and how to analyze cost scenarios when unexpected events occurred. Both experiences were very helpful.
We have had a great experience with FNP. During Covid, when there was the chance that reimbursable nonprofits would have to pay 50% of the unemployment costs, FNP went to bat for us. We would receive weekly information on the Unemployment claim and how they were working to reduce the costs to reimbursable nonprofits. They have a great service also working with [our claims administrator] to make sure all the paperwork is completed correctly for any unemployment claim.
PORT Health Services has had a great experience with the Unemployment Savings Program offered through First Nonprofit. Throughout the years we have been involved in the program, we have increased our reserve account significantly through this program and find the reporting we receive both timely and useful. We look forward to our continued involvement with this program and our connection with First Nonprofit for many years to come.
Job One was spending a lot of money on unemployment. Our insurance broker, Mark Simcosky, recommended that we switch over to First Nonprofit. We did just that! This switch has been a huge savings for us! This switch saved us over $10,000 in the first year. Their customer service is Superior! Any time we have a question, we get a response very quickly. Any time we send them a report and they have a question; they call rather than just assuming. They were very responsive during COVID, even when they were in crisis mode their selves. They also were always there when we needed during COVID and very helpful! We would 1,000% recommend First Nonprofit to anybody that could benefit from it!
My experience with FNP has always been positive. Every time I have had to contact them, I’m always put in contact with a friendly and knowledgeable person. If something is missing from our account, they reach out to us to request it. It’s nice to work with a company that makes sure our account is current. I would recommend them to any nonprofit looking to reduce their unemployment insurance costs.
We’ve saved tens of thousands of dollars PER YEAR by changing to become a reimbursing employer, freeing funds for much needed capital investment. FNP has been a valued partner in this process, providing assurance that we have stopgap coverage for extraordinary claims and keeping claims response painless and simple. It’s a huge Win/Win!