What is Crowdfunding?
Crowdfunding harnesses the power of social networks and the internet to give people the means to raise funds, help others overcome hardship, and meet aspirational goals. With crowdfunding, you can do everything from helping a friend pay for surgery to fulfilling a student’s dream of attending college, supporting a cause you believe in to helping an entire community recover from disaster.
In recent years, crowdfunding has transformed the traditional fundraising landscape, breaking down barriers between those in need and those available to help them—and making it possible for people to offer direct support to those who need it most. This is part of a larger trend toward individual giving. In 2016, charitable giving by individuals grew by 3.9% for a total of $281.86 billion, outpacing giving by both corporations and foundations.
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DAVID S. FISHER, ESQ.
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