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Donation-Based Crowdfunding

 

There are dozens of crowdfunding platforms—some of the most well-known are Kickstarter, Indiegogo, and Gofundme. This fundraising tool is donation-based, meaning the “investors,” legally, may not expect anything in return for their donation. Most sponsors of a crowdfunding campaign do offer premiums in the form of gifts—generally t-shirts, products once the business is functioning, or other memorabilia, but these gifts are not required.

The most successful crowdfunding campaign in our region is the Jennings Hotel, which exceeded its 2015 goal by 33% to raise $107,070 for the restoration of a building in Joseph. A 2014 campaign, for the revival of the Lostine Tavern, raised nearly $28,000.