What is PitchFunder?
PitchFunder is a program from the ASU Foundation designed to empower the ASU community to raise charitable funds for the ASU-related projects, events, and organizations.
What is crowdfunding?
Crowdfunding is a means of raising money by reaching out to your personal networks and inviting them to get involved with your project by making a contribution.
What is USEED? Is it the same as PitchFunder?
PitchFunder runs its campaigns on the USEED crowdfunding platform.
How long does a campaign last?
A campaign is "live" for 30 days, but requires about 3 months of commitment from start to finish – application to fund disbursement.
How is this different from Kickstarter, IndieGoGo or GoFundMe?
Since donations made to PitchFunder are technically gifts to the ASU Foundation, funds you raise through our program are considered charitable donations. This means that not only do you not take on any personal tax liability, but your supporters get the benefit of making a gift that could be tax-deductible. PitchFunder’s use or fee structure is also different from non-charitable sites, making it a cost-effective alternative for the ASU community.
Also, one of the greatest benefits of crowdfunding with PitchFunder is the guidance the program provides. All groups go through our personalized training program to learn how to create a successful crowdfunding campaign. Plus, our knowledgeable and helpful staff of Crowdfunding Account Managers are there to assist and advise groups for the duration of their campaign.
How do I know if PitchFunder is a good fit for my project?
Groups that work best with PitchFunder are:
- Comprised of 5 or more members.
- In need of $1,000- $10,000 that will be spent in on a venture that benefits ASU students and/or the community. This may include supplies for service learning or other ASU-related projects, research, conference travel costs, etc. Funds cannot be used for a private company.
- Willing and able to leverage personal connections to help make your group’s dreams into reality.
- Able to spend at least 3 months creating and running a crowdfunding campaign.
What is required to launch a campaign?
To get started your team will need to apply. Then you will meet with an crowdfunding account manager to help determine your goal and plan to success. Each group takes a different path to launch their campaign, and PitchFunder reps will walk you through each step of the process.
On average, how many people are required to succeed?
The larger your group, the larger the crowd you are able to reach out to. Our average campaign has 15-20 members, but the more the merrier. 3-6 people will act as the group’s core leadership team with all other members acting as advocates on behalf of the campaign.
How can we access the funds we raise?
Before going live, we will walk you through the steps of setting up an account with the ASU Foundation and a local university account. As soon as someone donates to your project, the funds will be hosted within the ASU Foundation, and you can access the funds by asking the Business Office Manager in charge of your university account to request a transfer. You will access the money you raised under ASU policy, and your BOM will walk you through the process.
Is there a fee on the funds we raise?
There are no costs or fees associated with the program. Every donor to your campaign can restrict 95% of their gift to your account and the remaining 5% will be unrestricted to advance ASU. Even if you don’t reach your goal you will receive these donor-restricted funds to your account.