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What’s The Buzz About Crowdfunding? (Part 1)

by | Aug 11, 2016 | For-Profit Entities, Government Entities, Not-for-Profits

Working Hard-1.jpgIt seems these days that I can’t pick up a publication or read my Twitter feed without seeing an article or posting about crowdfunding.  At a recent conference I attended, one of the keynote speakers listed the nine great sources of capital that didn’t exist a few years ago, and he listed it as number one.

A New Tool for Financing

Organizations at every level are applying this method to finance projects locally, nationally and internationally. Some examples: On the national level, a presidential candidate reports that he has raised millions of dollars at $27 average per donor. Internationally, non-profit organizations are turning to crowdfunding to fulfill their wish lists.  Locally, a bill has recently been introduced in the New Jersey State Legislature that533422133_200_236.jpg would allow crowdfunding for New Jersey governmental entities, and entrepreneurs are patenting their great idea and turning to crowdfunding to make it a reality. Close to home, a friend may need help with medical bills, and the communities can now step up to fund those costs.  With relatively small financial commitments, individuals are participating in campaigns to get projects they support completed. With crowdfunding being all the buzz, it is a topic that warrants further exploration. We’ll explore the following questions, among others, in future articles:

  • What is crowdfunding? How does it work? Who are the major players?
  • Is crowdfunding in the future for New Jersey governmental entities?
  • How are not-for-profit agencies fulfilling their wish lists with crowdfunding?
  • What risks do donors and recipients face with crowdfunding?


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