Ask your QBC: Questions Before Crowdfunding!
By: Hitesh, Chiara
Published On: October 24, 2020
Starting a fundraiser online as a process is an easy one to follow. You open ImpactGuru.com, click on ‘Start A Free Fundraiser’, and your own campaign fundraiser will be ready in a matter of minutes. But wait. Let’s take a few steps back and understand certain things before you choose your crowdfunding partner.
If you are ready to start your own fundraising campaign, there are certain questions you must know the answers to. Before you start your campaign, don’t ask what is the best crowdfunding platform in India. Instead, ask your fundraising platform these questions:
What’s the proof of your authenticity?
In India & globally, there is no dearth of crowdfunding platforms. But which are the ones you can trust? Ask what national laws are they registered under. Ask for any government certifications. One such certificate - in India - is the ability to give income tax exemptions to their donors, allowed under the national government’s laws. If the government has verified your crowdfunding platform’s antecedents, you can breathe easy about trusting them.
From the total amount that my campaign raises, how much will you be deducting, and for what?
There are certain uniform charges, present across all platforms. GST, payment gateway fees, transaction fees on international transactions; all these will apply across crowdfunding platforms. But what else is being charged? Compare these charges across different fundraising platforms, and make an informed choice. A 0% platform fee fundraiser can help you get the most amount of funds transferred toward your cause.
Even if you have raised a substantial amount, it will not be useful if you cannot check the actual amount raised. ImpactGuru, offers a personalised fundraising dashboard to campaigners on its platform.
In addition to this, can you easily withdraw the funds raised by your campaign? Of course - in medical causes, for instance - you may have to submit prior documentation about the procedure/medications/tests you need funds for. But do stay informed of the time it would take for your platform to release the funds.
An important question. A medical situation can turn urgent at any time. At such a point, you need access to the best assistance, and fast. You need to be sure that if you need to raise funds and/or withdraw your funds, you have the window to do it, regardless of the hour.
Have you worked with any similar cases or organizations?
Ask this without fail. If the platform you are working with has dealt with various medical cases before, then they know what to be prepared for. It does not matter if you need funds for twice-a-week dialysis or for monthly blood transfusions; your relationship manager can understand the situation. Similarly - if you are an animal shelter home and wish to crowdfund - then has the platform in question worked with such organizations before? You can even contact the named organizations and know about their experience.
As an aside, you can also use this website to compare different crowdfunding platforms (https://www.crowdfundingindia.org/). No matter where you start your campaign, make an informed choice!