Crowd funding site Crowdtilt began offering tax-deductible donations for nonprofits today. Crowdtilt co-founder James Beshara says that Kickstarter prohibits charity and cause fundraising, Indiegogo nonprofit donations are not tax deductible, and even Movember takes a 17.7 percent fee. The goal is to offer fundraisers the ability to raise cash for charity without having the platform they are using take a large chunk of it…
Anyone that already has a Crowdtilt group can select a 501(c)(3) organization from Crowdtilt’s index to receive that money. If the campaign reaches its goal that money goes directly to the nonprofit, minus Crowdtilt’s regular 2.5 percent fee.
Beshara says that his company has spent a lot of energy in the last few months and more than $20,000 to wrangle all of the regulatory issues related to nonprofits. He also claims that around 28 percent of Crowdtilt projects are already non-profit. Finally, he points out that his site waived all fees for Hurricane Sandy projects, ultimately allowing users to raise $180,000 for those campaigns over the past few weeks.
You can find out more about the site at www.crowdtilt.com.