The Largest Crowdfunding Event Happened In Just 24 Hours And Raised More Than $50 Million
May 15, 2014
“Crowdfunding is particularly attractive to younger donors who are looking for a more direct connection to the causes and people they’re supporting,” said Katherina M. Rosqueta, executive director of the Center for High Impact Philanthropy at the University of Pennsylvania. “I think of it as a tool, one which might bring stories and issues to particular donors who wouldn’t otherwise be aware and prompt them to give.”
Last Tuesday, May 6 marked Give Local America day, a 24-hour campaign pushing for people across the country to pull out their wallets in support of local nonprofits doing good in their own backyards. And boy, did America show up.
During the fundraising period, $53,170,493 was raised, which set a record for the largest charitable crowdfunding event ever, according to the campaign's organizer, Kimbia, which helps nonprofits, educational institutions and community foundations better their fundraising efforts.
More than 300,000 people across the country contributed to the campaign's success, with an average gift of $112.92 per donor.
Dan Gillett, CEO of Kimbia, noted the use of social media as a major factor in the campaign's grassroots success. Twitter users spread the word on funding nonprofits in their own towns, and made sure to share the excitement through personal accounts.