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RELT10412 | Crowd Funding | Sociology Sample

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Question

Write 500 words about crowd funding . The initiative  is to raise funds for carers and clients for a Christmas lunch so they can have a small gift too. We will raise $ 10,000 which will be $100 per person for approximately 100 people. This is a social event.

Solution

Crowdfunding has been used, quite recently, to great effect by people and organizations in order to raise finance and support for various social causes. One would do well to take into account the best practices used by some of the successful crowdfunding efforts, especially for social events. We shall take a look at three such examples:

Same Sex Formal 2014:

The Same Sex Formal is organized annually by Minus18 in association with Safe Schools Coalition Victoria, and the Victorian Government. The main pitch of this particular campaign was that the donor could choose to sponsor young people who belong to the LGBT (Lesbian, gay, bisexual, transgender) community to attend this event. Every $40 donation allowed one young person to attend, who, otherwise, would not have been able to afford it. The crowdfunding was hosted on Chuffed.org and far exceeded its initial target of $10,000, ultimately drawing up to $12,285 in total. Apart from making the donations completely tax-deductible, Minus18’s team networked extensively and diversified its audience. By making an emotional plea, backed up a rational and viable event to promote LGBT rights and awareness, Minus18 managed to create a fertile ground for crowdfunding (Scott).

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Understandascope’ Event

This event, organized by Understandascope, was bound to be a successful crowdfunding effort. By inviting a well-known public figure like Charles Eisenstein, who has written several books, to speak on sustainable development, Understandascope managed to convert any passive interest in their effort into positive support. Just like Same Sex Formal 2014, this crowdfunding event was hosted on Chuffed.org and exceeded its initial target of $1,500, garnering a total of $1,815.

Charity: Water

Charity: Water’s famous crowdfunding efforts have shown the world how to successfully manage campaigns by making them more visible to the public eye. Out of all the examples cited Charity: Water is probably considered the best in the non-profit sector (Barbaric). Given its enormous success, crowdfunding campaigns around the world are trying to replicate Charity: Water’s model (Shri).

Community Vision can utilize crowdfunding for its initiative by following some of the best practices as observed in the above examples. Ernest Barbaric (The Non-Profit Guide to Successful Crowdfunding) has given a few tips regarding how to raise a successful crowdfunding campaign. Barbaric writes about four essential factors required. Firstly, he discards the notion that crowdfunding gives “access to thousands of people who are just waiting [to] give money to a worthy cause or project…………….

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