Ready to grow your fiscal sponsorship nonprofit with crowdfunding? Here’s how!
About the author:
Julie Jehly is the Director of Fiscal Sponsorship Collaborations of FundRazr. Julie is responsible for the development, launch and management of FundRazr’s crowdfunding program targeting 501c3 fiscal sponsors and their projects. For several years prior to joining FundRazr, Julie was the Development & Fiscal Sponsorship Director with a Northern California based fiscal sponsor nonprofit. Her experience in the nonprofit industry includes stints with art and environmental organizations dating to 2007. Julie is based in Sonoma County, California.
Employed for several years with an established fiscal sponsorship nonprofit, as the Development & Fiscal Sponsorship Director I supported and advised 50+ fiscally sponsored projects when they came on board, with most in the nonprofit environment for the first time. A question everyone asked was “How do I find donors?” My advice varied based on the projects’ missions but broadly included networking, email blasts, social media, and of course the ‘ol standby – friends and family. The one key resource I could not suggest was crowdfunding. Personally and professionally, it was incumbent upon me to help projects find their donors, aka tribe, raise funds, and increase my employer’s income through additional management fees. I searched high and low for a platform and continually found a 1:1 ratio – one 501c3 number to one nonprofit. That’s it. Number sharing among multiple projects not allowed. Search results were discouraging, until I found FundRazr – the only major platform where all projects can raise unrestricted funds using the fiscal sponsor’s 501c3 number. Success!! Wanting to share the good news that finally, fiscal sponsors and all their projects have access to unlimited crowdfunding thus enabling them to further their missions and good work, I joined the FundRazr team as the Director of Fiscal Sponsorship Collaborations. I am excited to share that this opportunity to crowdfund is now available to you, and I’m here and ready to help you get started!
Since 2009, FundRazr has helped organizations of all sizes – from a fiscal sponsor with one project all the way to the American Lung Association. We have helped raise over $200M for over 6,000 organizations in over 42 countries.
Relevant page: https://fundrazr.com/pages/fiscal-sponsorship-crowdfunding
FundRazr’s enterprise-class platform enables you to grow your fiscal sponsorship nonprofit while empowering unlimited sponsored projects. Here are some of the many reasons why you should add crowdfunding to your fundraising toolbox.
Having leadership experience in the fiscal sponsorship environment, I understand your specific requirements and responsibilities as a fiscal sponsor. Back-office accounting tasks must run smoothly and confidentiality is a must. With FundRazr’s easy onboarding and admin super powers, our platform increases your team’s efficiency with clear donation reporting for easy bookkeeping, analytic and data access, and clear roles and permissions that you manage.
We know fiscal sponsors also provide projects with advice and mentoring, and the FundRazr team is here to support everyone in your collective crowdfunding endeavors. Our team of dedicated coaches have unique backgrounds in fiscal sponsorship management and nonprofit fundraising. We are ready to assist with fundraising strategy, implementation and best practices – complimentary of course!
The following illustrates our Revenue Growth Flywheel, and shows how you can create viral donor acquisition. It’s about building a community of donor advocates, who then stay engaged and refer new donors.
For example, one of your projects creates and launches a campaign, reaching current and potential donors through multiple social media platforms and email. This campaign ENGAGES folks who MONETIZE their emotional response and donate, and these folks then AMPLIFY the project’s campaign to their friends. The project RETAINS donors by sharing the impact all these donors and their donations are making, which then MOBILIZES current and new donors to share, which then ATTRACTS more folks who then become ENGAGED, and the revenue growth flywheel continues.
The final topic is pricing. I’ll share the best FundRazr model for sponsors and projects to absorb minimal processing fees – yes, there is an avenue for donors to cover transaction and credit card processing fees AND receive a tax deduction.
FundRazr has three models. Each model includes a credit card processing fee. No way around that one.
- Free – no transaction fee and the donor is asked for an optional tip to keep fundraising free, which is not tax deductible.
- Standard – this model is used when a partner or endowment agrees to cover the 5% transaction fee, which is tax deductible.
- Pro – the donor is asked to cover all fees – 5% transaction and credit card processing. In our experience, ̴90% of donors do and they receive a tax deduction for the entire gift. This level is the most cost effective to the fiscal sponsor and projects with fundraising costs between 1.5% and 2.2%. Plus, this level supports recurring donations and is best for fiscal sponsors and their projects.
To summarize, topics covered are:
- FundRazr’s international clients and fundraising successes
- Why you should add crowdfunding to your toolkit
- Donation reporting, bookkeeping ease, and roles and permissions
- Our knowledgeable team supports fiscal sponsors and projects every step of the way – complimentary of course!
- FundRazr’s revenue growth flywheel and how you and your projects can create your own viral donor acquisition
- Pricing and how donors can cover fees and receive a tax deduction for the entire amount.
Having joined the nonprofit field in 2007 and with the most recent years specifically employed by a fiscal sponsor to mentor and increase projects’ donor base, I understand your fundraising challenges, need for increased unrestricted funds and responsibilities to your projects. Combining my background and expertise with FundRazr’s proven record and leadership in the crowdfunding community, $200M for over 6,000 organizations, is a win-win to reach individuals and increase donations.
Ready for a one-on-one meeting to learn how FundRazr can meet your specific needs? Connect with us!