**For a more in-depth look at different ways for artists to raise money, check out this article. In it, we cover crowdfunding, general support, recurring support, and grants.
In this article, we will dive into the similarities and differences between general fundraising and crowdfunding. Yes — they are two separate things! Both different avenues for raising the funds you need to get your art on track. We will go through the best instances for using each platform and how they work in their own unique fashion.
General Support fundraising is a way for your artistic project to raise funding 365 days a year. There are no deadlines, goal amounts, or end dates.
Just as any nonprofit is able to accept donations at any time, our fiscally sponsored projects are able to receive donations by credit/debit card or check throughout the year. This form of fundraising is available immediately after being accepted into Fractured Atlas’s Fiscal Sponsorship Program. Using the information that was supplied in your application, a “General Support” page goes live right as your project is accepted.
Giving back to your donors in appreciation of their support is a great way to build long-lasting relationships and get donors to give more. The great news is your General Support page allows giving levels for you to show your appreciation. Make sure that you indicate the value of any items you are offering, as this allows us to generate the proper tax receipt. See an example below.
Funding through a crowdfunding campaign allows you to set a funding goal amount, a timeframe of when you need to raise it by, and is a great way to crowdsource your work.
Setting up a crowdfunding campaign is a platform where your project can build a specific page for meeting a set goal within a time period you indicate. You can provide media such as an image or video, describe the work you are looking to fund, and include rewards levels for your donors to give to and receive different offerings in appreciation.
Set out to raise money for a portion of the overall work you do with your project. This can be a specific run of a theater performance, fall sessions of an after-school program, or paying artists for a performance tour.
Fundraising for a specific program activity means there is a specific timeline the funds will be needed to execute the work. Setting the goal date for the funds to be raised gives donors the incentive to give right away, and allows the project to get the funds in the timely fashion needed for the work.
A crowdfunding goal takes into account the budget for the specific activity as well as your constituency. It is said that the average donation with Fractured Atlas is $75, and a third of the people you reach out to will actually donate. Be sure to take this into account with fundraising goals.
Crowdfunding campaigns are about crowdsourcing your art, getting the word out to as many people as possible to expand your reach, and exciting and motivating current and new donors about your work. Having ample time and a regular schedule of posting and sharing is essential for crowdfunding. Your donors will be the people you reach out to and their friends, and friends of their friends etc., so be ready to keep contacting them and sharing the campaign.
After becoming fiscally sponsored, assess your project’s capabilities, your constituency, and what may be best for your followers in terms of what fundraising avenue to take. Remember you will automatically be set up for General Support fundraising. You can then decide if your next step is to begin with building your long-lasting donor base, or funding for that next activity or up-coming program and building your exposure.
Introduction to Fundraising Individual Donors
Crowdfunding for Your Artistic Practice