![]() ![]() ![]() His campaign, "Operation Flyaway," promised to pay for evacuation flights for Afghan civilians fleeing Taliban rule. 'How an Instagram star's $7 million mission to rescue Afghan civilians struggled to get off the ground'Ī Septemarticle in The Washington Post (WAPO) describes recent crowdfunding efforts made by an Instagram star, Tommy Marcus, aka "Quentin Quarantino," who recently crowdfunded over $7.2 million in less than two weeks via the GoFundMe platform. Unlike registered charities which are subject to formation filings and reporting requirements like articles of incorporation, bylaws, tax exemption applications, annual IRS tax reporting, state solicitation filings, and in many cases, annual audits, crowdfunding campaigns are often conducted by individuals for whom no public financial reporting is required. Donating through a crowdfunding website is not much different than handing cash over to a stranger on the street. While this type of giving may be easy and convenient, donors who contribute to crowdfunding campaigns do have legitimate cause for concern. The majority of donors surveyed expressed concern about the transparency and accountability of this type of giving, but these concerns were seemingly outweighed by the convenience offered by crowdfunding platforms, with 69.1% of crowdfunding donors agreeing with the statement, "Crowdfunding makes it easy for contributors to give and support a project." Of all the crowdfunding dollars given in 2019, 57.6% went to support individuals, including friends, family, acquaintances, and strangers, according to the Lilly School's report. In a survey of 1,535 adults conducted in September 2020 by the Indiana University Lilly Family School of Philanthropy (the Lilly School), roughly 32% reported having donated to a crowdfunding effort. Ĭrowdfunding continues to be a popular way to give. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |