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What is crowdfunding?
Crowdfunding is the practice of sourcing small contributions from a large number of people to provide funding for a particular project or campaign, usually via the Internet.
Are there any rules or policies for launching a crowdfunding project?
Yes. See the Crowdfunding Policy, associated Crowdfunding Procedures, and the Crowdfunding Flow Chart. Please note, it can take up to one month for a campaign to go from the application process to official launch.
What is Clyde's Crowd, also known as UCCS Crowdfunding?
UCCS Crowdfunding is an online fundraising tool created by the University of Colorado Colorado Springs that allows individuals and organizations to create and share fundraising campaigns with an engaged community. The UCCS Crowdfunding platform can empower the entire Mountain Lion community to come together and create lasting impact on projects they may be interested in or care about.
How does UCCS Crowdfunding work?
Selected UCCS faculty, staff, and students have created separate fundraising campaigns for a particular project with a specific funding goal and project completion timeline. In some cases, a particular project may offer an intangible (non-monetary value) reward in exchange for support. Supporters can contribute to the project financially and are encouraged to share the project with their own community and social network.
Who can contribute to UCCS Crowdfunding?
Anyone! Contributions to projects can be made by any individual or organization inside or outside of the UCCS community.
How do I contribute to a project on the UCCS Crowdfunding site?
Find the project page for the project that you would like to contribute to and click "support this project." You will be asked for a contribution amount and credit card information. You can also contribute by telling your friends and family about a project that you are interested in, or by spreading the word across your social networks.
What methods of payment does UCCS Crowdfunding accept?
At this time UCCS Crowdfunding is only accepting credit card payments (Visa, MasterCard, American Express, and Discover).
Is there a minimum or maximum amount I can contribute?
Yes, there is a $5 minimum contribution amount required. There is no maximum amount and you can also make multiple contributions to multiple projects.
If I contribute to a project, when is my credit card charged?
Immediately upon making the donation.
Is my contribution tax deductible?
Yes, your contribution is a donation gift made to the CU Foundation and is tax deductible as allowed by law. You will receive a tax-deductible receipt for the entire amount of your donation. Funds contributed are then transferred from the CU Foundation to the University for use by the specified project.
Does UCCS store my credit card payment information?
No, UCCS Crowdfunding does not store any payment or credit card information.
Is my contribution amount publicly displayed?
No, your name and contribution amount will not be publicly displayed.
Can I request to make an anonymous contribution?
Yes, you will be able to indicate when making your contribution payment that you would like to remain anonymous.
When will a project receive funds?
Projects will receive their funds once the funding period has ended (typical 30-45 days from the start of the funding period).
Can I share that I contributed to a project through my social media accounts?
Yes, there is a button on the UCCS Crowdfunding site thank you page that you will see after a contribution is given that will allow donors to share their contribution with their own social networks.
What rewards, if any, can I receive for my contribution?
Currently, UCCS Crowdfunding is only allowing for non-tangible rewards to be given and only from certain selected projects. These non-tangible rewards are defined as rewards that don't have any monetary value except for the costs of the materials such as cards, blank CDs, poster boards, paper, etc.
Can I get a refund for a contribution I have made?
Yes, a refund request will need to be made directly to the Processing Department in the Office of Advancement (not the Foundation) at (303) 541-1290 or via email at email@example.com.
How do I know what percentage of my money goes to the project?
100% of the funds raised will be used by the project to which you have contributed for the project tasks and related expenses. Each project has a detailed budget breakdown and a section on "use of funds" in their project description pages on the UCCS Crowdfunding website.
How do contributors know that their contributions will be used for the project they gave to?
100% of your contribution will go only to the project (or projects) you have designated. Each project has a separate accounts set-up by University accounting which will be monitored by an assigned university staff and/or faculty sponsor for each project.
How will I know if and when the project reaches its funding goal?
You can always check back on the project page to look at the funding progress. You can also sign up for updates or follow the project's social media pages for updates. You will receive an email when the project fundraising time has expired regardless of the success of the project.
What happens if a project exceeds its specified funding goal?
Each of the project teams has identified a set of baseline project tasks and goals in addition to a set of "stretch goals". Should a project be fortunate enough to exceed its funding goal, the additional funds will be utilized to help the team reach the project stretch goals as identified in their project description pages on the UCCS Crowdfunding website.
Are contributions returned if a project does not meet its stated funding goal?
No, we believe that projects should be able to keep the funds that are raised even if the total funding goal may not have been reached. We expect each of the project teams will make some progress in achieving their project goals even if they may not have been fully funded.
Can I ask questions about projects?
Absolutely! Just click the "Ask a Question Button" under the project starter box and your question will be sent to the project creator/lead.
Can I sign up for email alerts to receive project updates?
Backers who have contributed to a project will receive emails whenever the project creator creates an update, or when the project funding period ends.
Who can start a project on UCCS Crowdfunding?
UCCS students, faculty, and staff can apply to create and launch a campaign on the UCCS Crowdfunding platform. The application can be found here.
How does my project get approved?
Once we receive your application, a committee will review your idea and contact you with questions. The committee will meet every four to six weeks, so please plan ahead if your project is time sensitive.
How can I increase the chance that my project will meet its fundraising goal?
One of the key components of a successful crowdfunding campaign is a solid marketing strategy. Our planning guide and marketing guide can help you develop a strategy to raise the funds you need. We will ask you to complete these documents before your campaign launches.
How does a project receive its funding?
Funds will be transferred from the CU Foundation to the University as the contributions are processed. The project teams will be able to access these funds through a separate university spending account set up specifically for their project once the funding period has ended.