fundraising at umbc: tips for funding your student organization's project or initiative
DESCRIPTION
A presentation that was shared with student organization leaders at UMBC's LeadingOrgs Retreat in September 2014. The presentation focuses on submitting a project and leveraging crowdfunding to raise money for student initiatives.TRANSCRIPT
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Fundraising at UMBCTips for funding your student organization’s project
or initiative.
Dayna Carpenter – Director, Annual GivingOffice of Institutional Advancement, [email protected](410) 455-3377
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Sources of Funding . . .
•SGA Funding•BreakingGround Grant•On-Campus Fundraising•Off-Campus Fundraising•Crowdfunding
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Office of Institutional Advancement
• Public Relations & Marketing• Creative Services• Alumni & Development Communications• Advancement Services• Advancement Operations• Alumni Relations• Corporate & Foundation Relations• Major Gifts Fundraising• Annual Giving Program
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Annual Giving Team
Broad-based outreach to parents, faculty and staff, and UMBC’s 65,000+ alumni base.• Phonathon• Direct Mail• Online Engagement (including crowdfunding)
We can partner with student organizations to:• Strategize fundraising opportunities• Build crowdfunding pages and other tools to raise
money for student activities.
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What is crowdfunding?
crowd·fund·ingˈkroudˌfəndiNG/noun1. The practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet.
"musicians, filmmakers, and artists have successfully raised funds and fostered awareness through crowdfunding"
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History of Crowdfunding• Originated from crowdsourcing
• First platform launched in 2001
• Musicians and artists
• Grassroots political fundraising
2008 Obama Campaign• Blue State Digital• Raised $272 million from over
2 million, mostly small, donors
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Crowdfunding is Growing Fast
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Two Types of Funding Models
Threshold Model• Funds held in escrow account until the goal is
reached. • If goal not reached, contribution is refunded
to donor.
Keep It All Model• Project owner keeps all funds
raised, regardless of whether or not the project goal is reached.
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Motivations of Crowdfunding Donors
• Want to believe that their contributions matter• Feedback loops• Reciprocal relationships• Wash’s Completion Bias
• Social Loafing . . . =0(
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UMBC Crowdfunding: Pilot Year . . .
• Launched in June of 2013• Focused on student organizations • 323 total donors • 8.5% of all first-time alumni donors to UMBC• $16,838.50 (Average gift of $52.13)• Entry-point to giving for recurring gifts
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Your passionate community . . .
…students, alumni, parents, faculty, staff, others
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. . . has the power to move the needle.
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UMBC’s GiveCorps = umbc.givecorps.com
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How do you get started?
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Tell Your Story . . .
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Determine a Call to Action . . .
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Select a Template
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Collaborate with OIA
• Build fundraising marketing strategy• Assistance in writing & editing• Working with University System of Maryland Foundation• Additional promotion• Direct Mail• Social Media• Blog Posts/Story-telling
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Social side of giving . . .
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What’s the right goal?Goals should be:• Specific• Challenged• Attributed to an individual vs. a group
We recommend: • Scalable Goals• Conservative enough that one donor can
see their impact ($3,000 or less)
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What’s a Good Fit?
All funds raised should benefit the UMBC’s students or campus in a direct way.
In addition, the strongest candidates for the program have:• A great story• UMBC-recognized student organization• A strong leadership team• An active community of students, alumni, and parents• A minimum of 10-20 active members
We are unable to support:• Individuals• Raising funds for an outside organization
• National Chapters • Unaffiliated nonprofit organizations
• Groups that are not officially recognized as UMBC student organizations
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What’s a Good Fit?
To date, we’ve helped raise funds for:• Travel expenses• Food• Production of a cd• Scholarships• Sports Equipment• Registration Fees• Car Rental
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Marketing . . .
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Who is the Right Audience?
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Crowdfunding by Source
Other Sources
0 10 20 30 40 50 60
Academic Impressions – February 2014
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Questions?
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Thank You!Need more information?
Dayna Carpenter – Director, Annual Giving [email protected](410) 455 - 3377
Felicia Felton – Assistant Director, Annual Giving [email protected]
(410) 455 - 1361