Crowdfunding is a way to raise funds for a specific cause or project by asking a large number of people to donate money, usually in small amounts, and usually during a relatively short period of time, such as a few months (Foundation Center, 2017). Crowdfunding is done online, often with social networks, which make easy for supporters to share a cause or project cause with their social networks.
Organizations, businesses, and individuals alike can use crowdfunding for any type of project, for example: charitable cause; creative project; business startup; school tuition; or personal expenses.
For more information about crowdfunding, visit What is Crowdfunding via the Foundation Center's Grantspace Portal.
This page was adapted from the Michigan State University, Crowdfunding. Permission Jon Harrison, 2017.
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