Crowdfunding versus Fundraising

What is the difference between Crowdfunding and Fundraising?

Crowdfunding is exclusively online while fundraising could be either in person or virtual. The majority of Crowdfunding websites make it free to begin so you retain most of the income you make from the process. Unlike fundraising, crowdfunding allows for a global outreach to promote your organizations mission and goals. Traditional fundraising that is in person can be more engaging and memorable for the possible donors. However, some traditional fundraising ideas that are in person might be expensive to put together which means most of your revenue might go towards preparations and investment costs for the event as opposed to operational or maintenance costs. Both crowdfunding and fundraising have many similarities such as both being able to take place during whatever time of the year with both having a specific timeline and a deadline for when they end (but they both are not canceled altogether if the deadline isn’t made). For both fundraising and crowdfunding, social media is a great way to promote your goal for groups of people that might not be able to financially support but can get the word out.

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