Democratizing Social Finance and Sustainability: The Transformative Promise of Crowd-Funding for Philanthropy
According to 2010 figures from the National Center for Charitable Statistics, the top 1% of American nonprofits account for nearly 85% of all charitable revenue, while the bottom 85% of organizations account for 5% of overall revenue in the sector. Inequality in the flows of philanthropic capital in America greatly resembles the same inequality we see amongst incomes of individual households in America. Great social change organizations therefore rise and fall because of a lack of adequate funding.
Yet, the explosive growth of new media tools brings promise for social enterprises of all kinds. These tools are revolutionizing fundraising by lowering transaction costs and facilitating the formation of small donor and membership networks through “crowd-funding”. Since 75% of charitable donations come from individuals the continued proliferation of crowd-funding could mean that the very definition of “philanthropy” may never be the same.
This panel discussion will explore important developments in crowd-funding while answering key questions including:
- What is crowd-funding?
- What forces have shaped this phenomenon?
- What impact will this have on social finance and the social sector as a whole in the future?
- What are elements of a successful crowd-funding campaign?
ABOUT THE PRESENTERS
Anthony Jewett, Tides Fellow and Moderator
Anthony Jewett is part of the inaugural class of 2011 Tides Fellows and Principal of SoCap New Media Organizing, LLC - a social venture capital firm that helps emerging education enterprises build fiscal sustainability through crowd-funding, small donor and membership networks. Anthony's passion is his role as Chairman of the Board of the National Center for Global Engagement (NC4GE) which he founded in 2005 to provide global leadership opportunities for outstanding African American, Latino, and Native American youth through study abroad and service learning. His work has been featured in media outlets including National Public Radio and TIME Magazine.
From 2003-2005, Anthony was a bilingual elementary school teacher in New York City with Teach for America. A 2006 Echoing Green Fellow, he has studied and worked abroad in South America, West Africa, China, and the Middle East. Anthony earned a B.A. in International Studies from Morehouse College in 2003 and is currently a second year doctoral candidate in education leadership at Harvard University.
Daryl Lester, President, Hindsight Consulting, LLC & Founder, Community Investment Network
Panel Perspective/Expertise: Giving Circles & Traditional Micro-Philanthropy
Darryl Lester founded HindSight Consulting in 2001, an entrepreneurial effort that encourages social innovation within community and institutional philanthropy. He later founded The Community Investment Network (CIN) in 2006, a national network of giving circles helping communities of color.
Prior to founding HindSight and CIN, Darryl served as Director of Community Leadership and Programs at the Triangle Community Foundation in North Carolina and as Trustee of the Warner Foundation. He was also an Associate Counsel at Capital Development Services and a Training Manager at North Carolina Public Allies. He also served as an Assistant Dean at UNC-Chapel Hill, the Assistant Director of African American Student Affairs at North Carolina State University and as a Counselor at Shaw University Counseling Center. Darryl is holds a B.A. in Economics from Wofford College and an M.A. In Psychology from North Carolina State University.
Peter Murray, Tides Fellow and Director, Organizing Innovation Project Panel
Perspective/Expertise: Functional Policy Organizing and Membership Networks
Peter Murray is director of the Organizing Innovation Project, an effort to catalyze the development of large-scale citizen organizations. From 2004-2011, Peter was co-founder and president of the Center for Progressive Leadership (CPL), a national training institute dedicated to developing the next generation of progressive political and policy leaders. Since 2004, the CPL has trained over 6,000 promising progressive organizers, staff, and future candidates through six regional training centers.
Prior to joining CPL, Peter was the founder and president of the Empowerment Group, Philadelphia’s largest minority and bi-lingual entrepreneurship training organization. He was also co-founder and executive vice president of the I Do Foundation, a national social justice foundation, and chief executive officer of Image Contractors, a community-based construction company in Philadelphia. For his leadership in the nonprofit sector, Peter received the Eli Segal Entrepreneurship Award in 2002, the Eugene Lang Community Service Award in 1999, and was selected for Fast Company Magazine’s 2002 “Fast 50,” which honors 50 leaders from around the world who are reshaping their sectors.
