The Crowdfunding Craze in Higher Ed #eduweb14 Todays presenters - - PowerPoint PPT Presentation

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The Crowdfunding Craze in Higher Ed

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Jamie McDonald

Follow @genero_city Chief Giving Officer of Network for Good Founder of GiveCorps, online giving software for nonprofits and Higher Ed

Dayna Carpenter

Follow @boyles_d Director of Annual Giving at UMBC Board of Directors – Northeast Annual Giving Association, Ltd.

Today’s presenters

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Crowdfunding has a long

HISTORY

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Now, Crowdfunding

is making waves in

Higher Ed

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haven't

CHANGED

The fundamentals for higher ed

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But your passionate community

…students, alumni, parents, faculty, staff, others

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Has more power to move the needle... …even with annual giving.

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With crowdfunding, social media + great technology...

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It’s like a party for your school

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What is it?

Crowdfunding:

Project-Based Annual Giving

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What is it?

Crowdfunding:

Giving Days

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What is it?

Crowdfunding:

Peer-to-Peer Fundraising

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What is it?

Crowdfunding:

Student/Faculty Philanthropy

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Crowdfunding: building major gift funnel

Planned or Principle Gifts

Major Gifts Annual Giving Crowdfunding Principles

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Segmentation

• Prescriptive vs. Self-selected Segmentation
• Lead-Generation and Data Capture Tool
• If used right, reduces donor fatigue

– Changes the “voice” of the Asker – Subtle way of involving donors in a “second ask”

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Phases of a Capital Campaign (and a Crowdfunding Campaign)

• The Quiet Phase
• The Campaign Kickoff
• The Public Phase
• The Campaign Closing Celebration

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Rosso’s Concentric Circles Constituency Model

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UMBC Crowdfunding: Pilot

• Launched in June of 2013
• Partial responsibility of one staff person
• Focused on student organizations
• 323 total donors
• 8.5% of all first-time donors to UMBC
• $16,838.50 (Average gift of $52.13)

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UMBC Crowdfunding: The Future

• Connecting with Events
• Incorporating in Direct Mail and Calling Efforts
• Personalized pages for high-end donors
• Team – or – Board/Chapter-based Giving

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What’s the right goal? Donors New Donors Dollars Recurring Givers Participation

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You can still use a giving pyramid to determine goal

Raise $50,000 in campaign

• 8,500 donors in data file
• 3% participation (and you’ll

definitely attract new donors, so this should be a safe bet)

• 255 Donors

22

(Planning + Inspiration) = Success

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Challenges Matching Funds Events

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Teach campaign managers to be contagious

Regular, SHAREABLE content

Donor list Prospect list Faculty/Staff Students Social channels Media Administration Hint: COPE - Create Once; Publish Everywhere

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• Ideally:

– Clean, simple giving process – Automated thank you and tax receipt – Mobile-ready for both learning and giving – Be easy for your team to set up, update, and manage – Embedded social sharing – Instant reporting on the progress of your campaign – Multiple inspiring fundraising pages – Equipped to show your matching funds – Peer to Peer fundraising capability – Donor scroll online

Buy vs. Build? What online giving capabilities do I need?

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Case Study: Project-based annual giving

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Case study: Giving Day

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Case study: Peer or Ambassador Campaign

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Case study: Student Philanthropy

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The Long-Term “Sticky” Donor

• Provides a great “first” giving

experience

• Highlights direct donor impact
• Broadens fundraising constituency
• Identifies donor interests –

contributing to marketing

• pportunities
• Turn students and young alum into

Philanthropists – instill habit of giving

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Thank You

jamie@givecorps.com dayna@umbc.edu

Higher Ed Solutions: www.networkforgood.com/givecorps