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Who’s the Best in Higher-Ed Crowdfunding?

If you’re a fundraiser, there’s one trend you simply can’t afford to ignore: crowdfunding. A form of online fundraising that involves accruing small donations from a large number of people, crowdfunding has become a popular way for individuals and organizations to fund their ideas and projects by tapping into peer-to-peer networks. Sites like Fundly, GoFundMe, and Kickstarter have made it easier than ever to start campaigns.

With many crowdfunding platforms, you can be up and running in a few short minutes. You’ll start by adding in the marquee features of a crowdfunding campaign like naming it, adding a description, and setting your goal. From there, you’ll should add in photos, video, updates, social sharing links, incentives, benchmarks and more.
Cost will vary, but with many sites, you’ll actually get to keep everything you raise, even if you don’t meet your goal.

It’s no surprise, then, that crowdfunding has trickled into the realm of higher-ed advancement over the past few years. Many schools have launched crowdfunding programs as a way to support the initiatives of students, faculty, and staff, while also increasing alumni engagement and giving participation rates among constituents. In the words of Mary Ann McCollough, Director of Constituent Insights and Business Operations at Carnegie Mellon University, crowdfunding is a “win-win situation for all of us.”

Here at EverTrue, we’re big fans of innovation in advancement—which is why we’re excited to recognize the colleges and universities across the country who have been exploring crowdfunding with great success. In the below SlideShare, see our round-up of the 20 best higher-ed crowdfunding programs, plus hear directly from fundraisers at schools like Pepperdine University and the Haas School of Business at UC Berkeley:

Our picks for the 20 best higher-ed crowdfunding campaigns are:

  1. Arizona State University — PitchFunder
  2. Carnegie Mellon University — CMU Crowdfunding
  3. Cornell University — Cornell Crowdfunding
  4. Lehigh University — Ignite LU
  5. Middlebury College — MiddSTART
  6. Pennsylvania State University — Schreyer Honors College Crowdfunding
  7. Pepperdine University — Waves of Impact
  8. Temple University — OwlCrowd
  9. University of California, Berkeley — Haas School of Business Crowdfunding
  10. University of California, Los Angeles — UCLA Spark
  11. University of California, San Francisco — UCSF Crowdfunding
  12. University of Connecticut — Ignite
  13. University of Maryland — LAUNCH UMD
  14. University of Mississippi — Ignite Ole Miss
  15. University of Southern California — Ignite USC
  16. University of Tennessee, Knoxville — VOLstarter
  17. University of Texas at San Antonio — Launch UTSA
  18. University of Virginia — USEED at U.Va.
  19. University of Washington — USEED@UW
  20. Worcester Polytechnic Institute — The Robert A. Foisie ‘56 Innovation Studio
Endowment Spending & Growth Calculator

Enter your fund's current value and adjust the return, spending, and inflation sliders to see how its value in today's dollars changes over time.

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4. Continue to Steward Donors

Your relationship with the donors who give to your endowment doesn’t end when you secure their gifts. Because your endowment exists to make a difference in the long term, your supporters will want you to keep in touch about its progress. Ongoing stewardship means keeping donors updated about your endowment’s performance and impact. A report that strengthens your relationship with donors should cover:
  • The fund’s balance at the start and end of the year
  • Spending amounts and allocations
  • How the fund’s returns compare to your investment targets
  • A short narrative detailing the specific impacts the endowment achieved
Create a report for each endowment rather than sending an identical document to everyone. A donor who endowed a scholarship wants to hear about the students it supported, while a donor who endowed a building fund wants updates on construction projects.

5. Upgrade Your Endowment Management Tools

Your endowment management tools should make applying your spending policy across every fund easy. Investing in dedicated software is especially useful as your endowment grows. Handling unitization in spreadsheets might work for a few funds, but as you begin to manage dozens or hundreds of gifts, dedicated software can save your team time spent manually calculating gains and losses for each one.

Why Nonprofits Need Dedicated Endowment Management Software

Dedicated endowment software brings accuracy and consistency to every part of the management process, from tracking individual funds to improving security. See how these solutions compare to a spreadsheet-based approach: nfographic table outlining the information below.

How These Methods Compare:

In managing your endowment with traditional spreadsheets, you may see:
  • High administrative burden: Manual entry across disconnected systems
  • Limited security and audit footprints: Reduced version control and audit trail visibility
  • Difficulty with donor transparency: Spreadsheets provide only static data that is difficult to turn into custom results.
By using dedicated software, you are likely to find the following improvements:
  • Lower administrative burden: Automated fund tracking and calculated allocations
  • Enhanced security and audit footprint: Audit-ready reconciliation with clear tracking
  • Greater donor transparency: Connects with reporting platforms
Dedicated endowment management software keeps your organization compliant while freeing up the time your team once spent manually managing spreadsheets.

Secure Your Endowment with Balance by EverTrue

Effective endowment management begins with excellent accounting. Balance by EverTrue handles unitization, applies spending rules, and produces audit-ready reports, so your team can spend more time on the donor relationships that built the fund in the first place.
  • Turn your data into a clear picture of long-term impact. Combine accurate fund accounting with donor reporting that showcases impact.
  • Connect with the tools you already use. Pair Balance with Impact by EverTrue and ODDER by EverTrue to create and deliver compelling digital endowment reports that you can send to donors with ease.
  • Know where every fund stands in real time. Check market values, gift history, and available spending for any fund. Then, share view-only versions with your team, so everyone stays informed.
With Balance, your team can stop spending all your time on manual management and instead add balance to your endowment workflow.

Additional Resources

To learn more about managing your endowment and other ways that technology can help your organization, check out these additional resources: Less stress, higher endowment funds. Discover how Balance provides the organization, security, and accuracy your endowment needs. Request a demo.
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