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startsomegoodThe good thing about crowdfunding is that anyone can do it, which is also one of the bad things about crowdfunding. While nonprofits can and should tap into the amazing possibilities of crowdfunding, using a regular crowdfunding site means your nonprofit project can get lost in a sea of other funding projects.

StartSomeGood is a crowdfunding platform exclusively for social change initiatives. On StartSomeGood you will only find social entrepreneurs, nonprofits and community groups. There is no funding projects for honeymoons, weddings or movies.

In order to help nonprofits succeed StartSomeGood requires a little more effort to start a project, it isn’t just a sign up and share. Instead, you have to submit a plan with a clearly defined objective and fundraising goals.

After submitting your plan it will be reviewed and StartSomeGood will offer feedback; you may have to tweak your plan/goals, but once your plan and goals are approved your project is ready to launch.

After approval your organization is ready to collect pledges. StartSomeGood requires that you meet your fundraising goal in order to collect your funds (known in the industry as an ‘All or nothing’), but they do want your organization to succeed. In order to increase the chance of your success they have you create two fundraising goals: your total goal and your tipping point goal.

Your total goal is what you consider the amount of money your organization would need to do the most amount of good. The tipping point is the above mentioned all-or-nothing part of your goal.

Your organization must reach its tipping point to actually the money from the pledges. If you successfully meet your tipping point you will receive your money. StartSomeGood works with two payment processors PayPal or Stripe, which means you can accept credit cards. After the donations are processed the money is sent to your PayPal or Stripe account.

If you do not meet your tipping point goal, a message is sent out to all your pledgers letting them know that the project didn’t meet its goals. At that point all pledges are canceled and your donors will not be charged. This eliminates the need to issue refunds.

While it is free to submit a project to StartSomeGood, there are fees associated with meeting your goal. StartSomeGood charges a 5% service fee, which is in addition to any fees from the payment processors.
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