Crowdfunding has been around for a quite a while but very little research has been done to best understand when, for what, and with whom crowdfunding is effective.
Fortunately, some new research is shedding light on this important fundraising strategy.
“Online crowdfunding campaigns are raising more than $34 billion a year around the world, according to one, up from around $1.5 billion in 2011. Another source pegs the amount of money raised via crowdfunding in North America alone at $17 billion in 2020.
Although these campaigns help pay for everything from hospital bills and COVID-19 relief for restaurants to college tuition and launching new companies, little research about it has been done. To see which kinds of charitable crowdfunding campaigns garner support and why, we teamed up with other colleagues at the Indiana University Lilly Family School of Philanthropy. Here are four of our main findings.”
