Crowdfunding is the practice of raising money for a specific project or organization from a large number of people online. By showcasing fundraising projects online, crowdfunding encourages your contacts to follow, share, and donate to the projects that appeal to them. With crowdfunding, programs, faculty and students gain financial support from fundraising activities while alumni, parents, family, friends, and fans see the impact of their support and connect with your organization or project. A company by the name of USEED provides the approved crowdfunding platform for Indiana Tech.
Commonly Asked Questions
Provided below are some questions to help you become more familiar with crowdfunding and how it benefits Indiana Tech.
How is USEED’s Higher Education crowdfunding different from other crowdfunding platforms?
USEED’s Higher Ed crowdfunding is typically a “peer-to-peer” solicitation or appeal to donate funds towards a specific campus cause or project. Student groups post stories or videos on a website (platform) explaining the project, idea or cause and why financial support is needed. Students also send emails or post on social media asking friends, family, alumni and acquaintances for support, as well as, periodically posting progress reports or updates on the project and funding goal. USEED provides the following services for Indiana Tech’s student fundraising efforts:
- All campaigns are coordinated and approved by Indiana Tech’s Office of Institutional Advancement and USEED.
- Training and guidance is provided to each student organization’s fundraising team by USEED staff.
- All gifts go directly to the specific student project or organization’s fundraising campaign and absolutely no fees are taken from money raised.
- Your organization or project keeps all funds raised regardless of whether or not the entire goal is met.
What types of campus causes are appropriate for crowdfunding?
- Student organizations
- Club sports
- Student organization trips abroad
- Special occasion team tournaments or uniforms
- Community and research projects
- Funding needs between $1,500 and $15,000
What are the benefits of crowdfunding?
- Reduce student out-of-pocket expenses for group/class projects or trips
- Help fund projects/trips that were not previously budgeted under department/school budgets
- Meet school/departmental/student needs for unexpected expenses
- Create awareness about school/student achievements, activities, research or projects
How do I initiate a crowdfunding campaign for my organization or project?
The Indiana Tech-USEED crowdfunding platform is scheduled for an early November 2015 launch date. Campaign availability for the 2015-2016 academic year is limited and will be on a first come first serve basis. All campus fundraising activities must go through an application process and are subject to approval by USEED and the Indiana Tech Office of Institutional Advancement. Applications will be submitted online and the link to apply should be available by the end of October. Look for more information soon when the application link goes live. In the meantime, attached please find further information about this new initiative.
If you have questions or would like more information on crowdfunding, please contact Tracina Smith, annual fund director, at 260.422.5561, ext. 2421 or email@example.com.