Comment on With Launch UMD, university gets into crowdfunding

With Launch UMD, university gets into crowdfunding

COLLEGE PARK, Md. (AP) — What do beekeepers, marching band members, engineers and choir singers all have in common? Donations can come from anyone, but only members of the university community — students, employees, alumni, parents — can seek to raise money. Logue said Launch UMD is a way to engage as many donors as possible while raising money for all areas of campus, from academics to sports to civic service. A panel of university employees reviews applications from groups that want to be featured and chooses those with the most potential for success. The group needs money for equipment, furniture, licensing and lab fees, community events and other expenses. Unlike some crowdfunding platforms, Launch UMD allows fundraisers to keep all donations they receive, even if they don't reach their goal within the specified time frame. Crowdfunding has become a crucial component of the university's overall fundraising strategy, Logue said, even though the concept has not yet been widely embraced in the higher education arena.

 

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