"Faculty, staff and students dip into their own networks to fund ISU projects," she added. Through crowdfunding, Iowa State can reach beyond its current alumni and donor base, Evanson said. Others include the University of California, Los Angeles University of Arizona, Tucson Michigan State, East Lansing and Cornell University, Ithaca, New York. Additional funds will help reduce the cost of student travel to Peru.Įvanson said Iowa State is in the first wave of universities experimenting with crowdfunding platforms. 15 $7,000 to fund materials and tools, transportation, food and water for students and other expenses associated with the design-build projects. The Iowa State team, led by associate professor of architecture Clare Cardinal-Pett, sought to raise by Oct. Some crowdfunding sites keep the cash when campaigns don't hit their marks.įundISU's first fundraising effort is for Studio Andino, an interdisciplinary design studio in Peru that brings together students from Iowa State and the Peruvian University of Applied Sciences, Lima, to work on projects in several communities in Peru. If the campaign falls short of its goal, funds already raised will be available to the college or unit sponsors for use on similar projects. Some third-party crowdfunding sites charge 8 to 13 percent. The ISU Foundation will track and manage the gifts, charging its standard 5 percent fee to recoup costs. However, Evanson noted that FundISU, offers these benefits to university fundraisers: Large crowdfunding platforms abound on the Internet. Generally, the Internet and particularly, social media, are big players in crowdfunding campaigns. The teams will set up crowdfunding sites, cultivate supporters and publicize their campaigns.Ĭrowdfunding is a popular fundraising tactic that focuses on seeking small gifts from lots of people rather than large gifts from a few. ![]() ![]() But teams will run their own fundraising efforts, said Mary Evanson, the foundation's senior director of annual and special gifts. University teams looking to raise $1,000 to $10,000 have a new place to turn - a crowdfunding platform set up exclusively for Iowa State.įundISU is managed by the ISU Foundation.
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