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News & Press: ABAG & Members in the News

"Counting on The Generosity of the Crowd"

Tuesday, November 15, 2011   (0 Comments)
Posted by: Buffy Beaudoin Schwartz
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November 13, 2011

The Baltimore Sun

Startups use crowd-funding to aid patients, nonprofits

GiveCorps has a hybrid nonprofit/for-profit structure, said McDonald. The for-profit segment helps market the nonprofits to the community, while McDonald also set up a nonprofit foundation that accepts the donations. GiveCorps keeps 7 percent of the money it raises for each nonprofit's project.

So far, donations average around $36 per donor. Some of the nonprofits raising money through GiveCorps include the [ABAG Member] United Way of Central Maryland, Moveable Feast, Maryland SPCA and the Enoch Pratt Free Library. GiveCorps works with the nonprofits to craft a project-based campaign for donors to fund, an approach that's more focused than a general giving plea.

Raising funds through individual giving is still important for most nonprofits, said Buffy Beaudoin-Schwartz, spokeswoman for Association of Baltimore Area Grantmakers, which represents foundations and corporate giving programs.

"I think collaborative giving is something that is appealing to people," said Beaudoin-Schwartz. "Some of these online giving opportunities have an appeal to people who want to pool their dollars for a particular issue. It's a new way to engage a younger generation of givers."

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