Crowdfunding, typically done through the Internet, has become a popular source of fundraising for a wide variety of projects and ventures. Websites such as Kickstarter and GoFundMe provide a platform for anyone to publicize and request funding for a specific project.
The University of Memphis has its own crowdfunding platform through ScaleFunder: MomentUM, which assists faculty, staff and students in reaching fundraising goals for meaningful campus causes.
“Over $100,000 has been raised since this program was launched last year,” Rachel Brown, U of M director of annual giving, said. “Most gifts are under $100. This is a true testament that small gifts can make an impactful difference.”
The platform can be used to fund innovative projects, service trips, events, research and other ventures specific to the U of M community, according to the project’s website.
“Students can submit an application online, and a committee will review it,” Brown said. “The committee determines if the project will move forward. If it doesn’t, the committee can provide recommendations to make the project more successful.”
Brown said successful projects typically have four things in common: a compelling cause, an organized project leader, realistic goals and a clear impact.
Anyone can donate to MomentUM, with typical fundraising amounts ranging between $1,000 and $10,000.
“We accept applications [for causes] twice a year,” Brown said. “The window just closed for fall, but will open back up in the spring.”
MomentUM recently assisted in raising over $4,600 toward relief efforts for the University of Houston Cougars after the devastation of Hurricane Harvey.
Last year, the Dr. Rosie Phillips Bingham Student Emergency Fund was created through MomentUM to assist students who experience unexpected financial crises. The fund raised $6,000, which can help a needy student fix a pair of broken glasses, and even provide temporary housing to a student in the event of homelessness.
“Our office provides help and support in using this platform,” Brown said. “We help participants understand what it will take to achieve their goals. We really want students to get involved.”
The U of M’s annual giving department is located within the Office of Development at 200 Billy Mac Jones Building. The office can be reached at 901-678-5664.
