“CrowdFunding” for Creative Ventures — A New Way (click on title to comment)

 

Paper Doll

Paper Doll/Melissa Niemann

Kickstarter (and RocketHub and others)  are new type of  funding platforms for all you “artists, designers, filmmakers, musicians, journalists, inventors, explorers.”  (no, you do not have to be a Client.).  Described as a “new way to fund and follow creativity. Kickstarter aggregates pledges online — if the  project does not meet its target within a specified time frame the pledges are cancelled.  Another example of  online community getting it done.  (Several Rhode Island projects are being funded).  Click here  for details.

Think it’s crazy? Project at right got 14 backers and raised more than the modest $600 it needed – there are plenty out there that have raised thousands. Fascinated.  What do you think? Click on title of article (top of page) to link to comment page.

5 comments

  1. Don’t let talent go to waste for lack of seed money, check out this site and do something useful with your $$$.

  2. Kelly Robinson says:

    One of my clients raised over $22K with this. First time I had heard of it. Now the accounting question. Is the money considered a donation, gift or income to the new business?

  3. Kelly ,based on what I have read — unless they are tax-exempt — it has no tax or formal business consequence. They are not ownership stakes/investments and (unless a formal non-profit)not a tax deductible contribution. I think it’s more like helping a friend out. As a sidenote I believe the projects are encouraged to offer “rewards” for the gifts. In any case I suggest you consult a “tax advisor; would recommend someone who has familiarized himself with this subject. Ahem.

  4. Vlad says:

    Thank you for spreading the word about crowdfunding. At RocketHub.com, we’ve set up a crowdfunding bootcamp for anyone looking to learn about successfully crowdfunding a project: http://www.RocketHub.org

    Keep up the good work.

  5. Ed Drozda says:

    Thanks for sharing this Rich. More people should be aware of this. There are such a variety of legitimate opportunities out there that folks don’t even realize are available.

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