[Today’s run: 3.4 miles]
Our attempt at crowdfunding for the radio station project was a bit of a bust. We did get about 16 people to give us some money. Most of those were family and friends. And! I should say right here that we are very thankful for that.
But there was no rush for the credit card machine by the heaving masses of internet users. We did get almost 4000 hits on our project page. Lots of people were interested enough to click over to the page, but that’s as far as it went.
So! Since we did not raise enough money to buy the equipment we need, we will have to revamp our strategy and come at this again eventually. Until then there is plenty to do. I’ve been so wrapped up in the crowdfunding that I have not been working much on collection building or on getting the automation software to do what we want. Also, we need to order T-shirts for those who paid for them, and the other “perks” that people requested.
We have some corporate organization stuff to be done. We will go ahead with our IRS 501(c)3 determination. I’m thinking they may ask us to put some non-family members on the board of directors. If they do, we will have to find some more-or-less local people who are interested.
We are moving forward, not stuck just yet. But what we thought might be an easier road turned out not to be.
4 replies on “Crowdfunding”
Tax deduction would be an inducement. Did you get in the local press? The hard copy kind? I think older people would see it there. Also a P.O. Box to send funds…
Just some ideas… (Easier to think than to do, I realize.)
Local press: We tried our best to get in the local newspaper, letters to the editor, emails to the publisher and the editor, they printed nothing. I think it’s because we were involved in a fundraising cycle directly. We sent out press releases and did get a good write-up in the Jackson, MS business section. We also got a nice mention on a blog and in print of a radio industry publication.
Everyone who has contributed so far is tax deductible, minus the value of any “perk” they receive. But if/when we get above $5000 of annual receipts then we have to have that letter of determination.
And to get any grants or operate in the world of foundations, etc. then you pretty much must have the 501(c)3 determination letter.
You have really put a lot of energy into this. And just to get the thing started…
Thanks! I hope we eventually get it off the ground!