77°F2:25 AM Louisville philanthropists now have Power2give [Charitable Event]
Louisville Arts' organizations have a new way to raise funds. Power2give.org gives a localized option similar to Kickstarter.com or Indiegogo.com. The program can be used for history and science projects as well.
One of the neat things about Power2give.org is the matching funds program that they have set up and organized. The Power2give team finds sponsors like Republic Bank who agree to match funds that individuals or organizations raise through the program.
This fundraising tool is provided by the Fund for the Arts, which was started in 1949 by Mayor Charles Farnsley as an umbrella fundraising organization in support of the Arts with a focus on economic development, education and quality of life for Louisville citizens. Donations to all projects on the web site are tax deductible, because they are made to Fund for the Arts, which is a 503 (C) non-profit organization.
Anyone interested in raising funds can go the www.power2give.org web site and choose the "create a project" option. The projects must be posted by a non-profit organization and need less than $10,000. Individuals must have a fiscal sponsor in order to post a project. This may not be the best option for individuals, because fiscal sponsors usually take a percentage, and Funds for the Arts takes a 12% commission on all funds raised. It might be better for individuals to stick with another fundraising tool than to pay out too much in commissions.
Current projects on the site range from costuming for community theater to fixing a trailer for the Louisville Youth Orchestra. Philanthropists of all income levels just might find this an awesome opportunity to scroll through our artistic community needs and make a doantion pledge. Fundraisers receive their funds whether they hit their full goal amount or not. More information can be found on their web site.
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power2give.org
Jessica, thank you for a well written and insightful look at the new Fund for the Arts power2give.org fundraising platform. We have been thrilled with the success of the website launch and the projects that have already been funded in Shelbyville, Southern Indiana, and Louisville with the help of donors and matching dollars from Republic Bank, LG&E/KY Utilities, Stites & Harbison, UPS, and The Kentucky Arts Council! We hope that everyone continues to take advantage of these dollars that make their donations go further.
The 12% fundraising fee you mentioned that is added to the projects on the site covers the cost of the site only. The Fund for the Arts earns no commission from the website power2give. Our hope is that through this small administration fee we will be able to break even on the venture and continue to offer this service to nonprofit organizations throughout Kentucky and Southern Indiana.
Again thank you for your article and have a wonderful holiday!