Crowdfunding FAQ’s: Recognized Student Organizations
What makes a successful project?
Your effort depends on your success. A successful crowdfunding campaign is dependent on a variety of factors including: a compelling cause, a sense of urgency, impact, and the effort you put in to market your project.
What are the University of New Haven’s Crowdfunding’s project requirements?
At the most basic level, projects have to be:
Additionally, Crowdfunding projects need to be supported by an active, engaged project team. Individuals are not permitted to have their own page. Once accepted, the team will work with a University staff Crowdfunding mentor to create content (project descriptions, videos, emails, posts, pictures, etc.) for their group’s project.
How much work does it take to run a University Crowdfunding project?
A lot! Crowdfunding projects take 10—12 weeks of focused, intense work. But your group/department will reap 100% of the benefits.
The first 4 weeks are spent getting your campaign ready (writing content, making videos, finalizing your email list, thinking about strategy). Your group will have regular meetings with a Crowdfunding mentor—these meetings CAN NOT be skipped. Missing these meetings means forfeiting your campaign.
The next 4—6 weeks make up your actual crowdfunding campaign. These weeks are crucial! During the campaign, team members are expected to send out at least 6 email asks to their group contact lists, make 4+ updates to their project page, push out asks via social media, and otherwise make themselves available to answer questions about and raise awareness around their project. Asks can be from various members of your project team, and to the same (or different) contacts.
After the project, groups are responsible for sending out thank-you emails and final updates, and for fulfilling any promised perks to donors. Remember—making your donors feel special now means that they’ll want to come back and support your next project.
How do I promote my project?
Crowdfunding relies on personal networking—your best supporters love the University, but they REALLY love you and your project. You can use your personal, group, department or team’s email lists, Facebook pages, Twitter feeds, LinkedIn groups, etc. to promote your project.
What if I don’t have a big social network?
If you or your team don’t have a pre-existing audience (personal or otherwise), then crowdfunding might not be the best platform to raise money for your project at this time.
Who receives the money we raise?
100% of the money you raise—whether or not you hit your goal—goes directly into your group’s University-designated fund. As an added bonus, donations made to your crowdfunding project count as tax-deductible gifts in support of University of New Haven.
How are funds disbursed?
Per traditional USGA regulations, funds will be deposited to the RSO gift account. Your faculty/staff advisor can help you with this process, if you have questions.