A Guide to the Best Revenue Models and Funding Sources for your Digital Resources Page: 77
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A guide to the best revenue models and funding sources
for your digital resources
Nancy Maron, Ithaka S+Rcharity: water
https://www.charitywater.org/donate/
charity: water, a nonprofit whose mission is to bring clean water to people in developing nations, has a
particularly strong online donation system. A post on Frogloop, a nonprofit marketing blog, highlighted charity:
water as a "super star of the nonprofit world for using social media to brand themselves and raise money
online."162 According to the post, charity: water raised over $650,000 (397,383) via social media, and a
significant portion of that total through a single day Twestival that worked to bring together Twitter
communities and organise offline fundraising events across the globe. The success of charity: water with online
donations continues to this day; in its 2011 annual report, the organisation reported that 65% of donations it
received for water were raised online. Furthermore, an overwhelming percentage of its public support came from
individuals, rather than corporations, foundations, or other bodies: 78% of all contributions, or $19.9 million
(12.2 million), came from individual donors in 2011.
Benefits
> Crowd-funding platforms and social media greatly facilitate the technical execution of fundraising
campaigns
> It is very inexpensive to run a crowd-funding campaign, and quick as well; there is value in the simplicity of
the tools
Disadvantages
> Platforms like Kickstarter and others are campaign-based. A project cannot count on year-round support
through this channel, but would need to devise specific campaigns in order to drive donations
> Where online campaigns are focused on raising start-up costs, there is a risk that the same pool of funders
will not be willing to support the ongoing costs
> The revenue raised on an individual basis is likely to be relatively low; individual donations are often fairly
small
> The cost of preparing materials for online fundraising sites such as Kickstarter can be high; the projects that
have been most successful at raising funds via Kickstarter are those with highly wrought promotional
materials to help drive donations.
Costs attributable to the revenue model
> Providing a platform for receiving and processing donations: due to the difficulty in developing this type of
platform, this functionality will often need to be outsourced. The provider of this functionality will then have
to be paid a fee, often a portion of each transaction
>> Credit card fees
162 Allyson Kapin 'Best Campaigns of 2oo9,' Frogloop: Care2's Nonprofit Marketing Blog, 20 December 2009 post, Care2,
frogloop.com/care2blog/2oog/912/2o/best-campaigns-of-2009. html_Js
Philanthropy
77
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Maron, Nancy. A Guide to the Best Revenue Models and Funding Sources for your Digital Resources, report, March 2014; Bristol, UK. (https://digital.library.unt.edu/ark:/67531/metadc282585/m1/80/: accessed April 18, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; .