What Documents Do You Need To Start Crowdfunding?
By: Astha, Chiara
Published On: May 05, 2021
ImpactGuru has made fundraising an easy, 5-minute process. From starting your campaign to sharing it to receiving donations from all over the world, and to using the funds raised, crowdfunding has never been this easy. But before you start, there’s something you need to keep handy.
A crucial component of starting a crowdfunding campaign is providing the necessary documents. These are required for 2 reasons:
- To ensure a smooth approval process: Like a bank would require documents to smoothly set up your account, we too request for documents to safely set up your fundraiser and account.
- For the donors invested in your cause: Some of the donors to your campaign will be your family and friends; some will be complete strangers. Donors are interested in helping and like to feel personally invested in the progress made by the patient or cause. Sharing these details helps them connect. Moreover, it legitimizes your cause.
But hang on, you don’t need a whole binder of files from you for online fundraising. We require the basic documents before starting your fundraiser. The requirements may differ depending on your cause. Here are the details:
Are you a patient, or the relative/friend of a patient?
If you want to start a fundraiser to meet medical expenses ranging from medicines to diagnostic tests to operations), we will require:
- Identity proof of the patient (ideally, their Aadhar card & PAN Card);
- Lab test reports (if any), and bills for medicines (if any);
- An estimate from the hospital/clinic mentioning the patient’s name, the medical complication faced, the treatment recommended, and the cost for the same.
Are you looking to raise funds for a specific cause, or a personal project?
You will be surprised as to what fundraising in India can make come true! Maybe an ambitious child in your neighborhood has been forced to leave her studies due to a lack of funds. Maybe your talented cousin has been selected for an international sports meet but may have to skip it as she cannot pay for the plane tickets. Not a problem! All you will need is:
- The beneficiary - that is, the ambitious child or talented cousin’s Identity proof document (ideally, an Aadhar card & PAN Card)
- All other relevant documents for crowdfunding assistance. For your athlete cousin, could you provide any proof of the selection or any proof of the national-level or state-level competitions they held a position in? For the child in your neighborhood, you could produce their mark sheets indicating their high scores along with an income certificate for the family if possible.
For Non-Governmental Organisations:
We understand that you may be keen on crowdfunding for varied causes. While NGOs try their best to help out patients, their reach can be limited. They thus refer these patients to us - an online crowdfunding platform. Some NGOs try to raise funds for a specific cause - in recent times, to buy food packets & hygiene kits for unemployed daily wagers during the pandemic. Some NGOs - like Yash Charitable Trust’s Cafe Arpan - need help to sustain themselves; otherwise, who will look after the autistic people dependent on them? If you run a non-profit e will be requiring just these documents from you to initiate your fundraising campaign on our platform:
- Registration Certificate or Trust Deed or Society Deed or Incorporation Document for Section 8 company;
- PAN Card copy (specifically of the NGO);
- If available, Section 12AA certificate or 80G certificate, from the Income Tax Department;
- If you wish to receive foreign donations as well, we will need your valid FCRA Registration Certificate and FCRA Bank Details.