crowdfunding

The success of politicians in the U.S. largely depends on the amount of funding they receive from various sources. Although political action committees contribute considerably to elections, a recent survey showed that grassroots contributions – gifts under US$200 – are equally crucial and contribute a sizable amount. Donald Trump’s 2016 presidential campaign raised 69% of its funding from small donors. Traditionally, volunteers went door to door to solicit donations from individuals. Today, politicians use social media to encourage their supporters to donate and eventually vote for them. Many politicians such as senators Bernie Sanders and Ted Cruz have turned to this sort of political crowdfunding. The primary objective of political crowdfunding is to assist politicians in raising funds...

Raising money online from a group of donors, known as crowdfunding, is relatively new. The term was coined in 2006 by entrepreneur Michael Sullivan. But having lots of people chip in to support a cause or help out their friends and loved ones is a long-established practice. The pooling of contributions has occurred throughout human history. It’s hard to know exactly how much money changes hands today through GoFundMe, Indiegogo, Kickstarter and the thousands of other crowdfunding platforms out there. Without any U.S. oversight or coordination, gathering accurate and complete data is next to impossible. But there’s no doubt that crowdfunding is on the rise. Still, estimates exist. Online crowdfunding campaigns are raising more than US$34 billion a year around the world, according to one,...

Tag: crowdfunding

Political Crowdfunding Does More Than Raise Money – It Can Also Rile Up Opponents

Shedding Light On Crowdfunding For Charity – 4 New Findings