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Ethical and Responsible Crowdfunding: what is it? Why?

Ethical and Responsible Crowdfunding: what is it? Why?

Dear Friends,

as you might have seen the ethical and responsible crowdfunding feature on SBW is now active!

A very big step for our platform and we believe for the entire solidarity economy movement.

Now SBW is grass-roots funding connected to a social network, also connected to the marketplace: all in the name of ethics and solidarity!

But, before giving a detailed explanation of the new feature we'd love to thank:

We are truly grateful to all of you!

 

What is SBW's Crowdfunding? Why is it different from all other existing platforms?

We already offer a social networking platform that now extends, among its many features to build real communities, by adding ethical and responsible crowdfunding.

Why Ethical and Responsible?

First of all we do not sell or use in any way your personal data and our crowdfunding model also reallocates resources.

SBW does not seek for donors directly, but offers the opportunity to create, free of charge (except for transaction costs and commission on donations received as specified below), easily, online campaigns to raise not only funds but also in-kind commitments ie. in emergency situations and after natural disasters (earthquakes, floods, etc.).

Here a first group of solidarity campaigns for recent earthquakes in Italy.

 

What are the aims of ethical and responsible crowdfunding on SBW? Who is it for?

Anyone can start a crowdfunding campaign on SBW: individuals, groups, associations, informal Solidarity Purchasing Groups, networks, not-for-profits, NGOs, institutions, social enterprises, etc..

Creating opportunities for solidarity economy, jobs, allow grass-roots funding to ethical projects, including international ones. Not just a fundraising platform, but integrated to the existing social networking one for more possibilities of interaction among donors, recipients and the whole community.

The crowdfunding campaigns started on SBW contribute to:

  1. directly support the idea for which the campaign has been started;
  2. support SBW;
  3. support solidarity economy projects in the Marche region of Italy (through REES Marche);
  4. support the above mentioned SFF at a national level (Italy);
  5. support international solidarity economy projects through a fund managed by SBW, Co-Energia and REES Marche delegates.

The goal is reaching a truly interconnected and sustainable solidarity economy movement: communication, funding and exchange of goods.

 

CROWDFUNDING ON SBW: TECHNICAL HIGHLIGHTS

For campaigners:

  • "Moneypot", "All or nothing" or "Relief" campaign types (fundraising or in-kind);
  • option to offer rewards to donors;
  • receive donations also from those who are not registered to SBW;
  • Full descriptive page (title, text, description, video, photos, updates, comments, tags, geolocation);
  • option to add updates and stay in touch with the community even after campaign's end date;
  • instant sharing to external social networks.

For Donors:

  • option for anonymous donations, if desired (if so, only the recipient knows the identity of the donor for receipt issuing purposes);
  • option to donate without registering to SBW;
  • option to follow the project, receive email notifications of comments and updates;
  • chance to receive rewards when offered by campaigners.

Crowdfunding on SBW also:

  • is Multilingual;
  • is Multicurrency;
  • accepts payments via bank transfer, real-time bank transfer (Sofort), credit cards (Stripe) and Paypal.

TYPES OF CAMPAIGNS

Three different types of campaigns:

  1. All or nothing (with or without rewards for the donor) - This type of campaign needs a total goal to be reached by campaign's end date. If this condition is false at the closing date of the campaign all donations are refunded. This type of campaign is generally used when the project to be funded needs the total target, 100% of the amount indicated.
  2. Moneypot (with or without rewards for the donor) - This type of campaign accepts all donations. It's the perfect one to choose when it is not necessary to reach 100% of the target, ie. for daily operational needs for which any donation helps.
  3. Relief (no rewards for the donor) - This type of campaign only allows in-kind donations ie. for emergencies, natural disasters etc .. Choosing this type of campaign offers the option to add a list of needed items and specify collection and delivery terms.

FEES - EXTERNAL COSTS

For "All or Nothing" and "Moneypot" campaigns donations can be accepted via:

  • Wire transfer. Fee for the donor depends on his bank's contract for the underlying bank account. The recipient pays a one-per-campaign fee of € 1.10 at the end of the campaign for the single transfer from SBW's to his account.
  • Faircoin. Fee for the donor depends on his wallet management system but usually is zero for  wallet to wallet transfer (ours is on Bank of the Commons). The recipient pays a one time fee of € 1.10 at the end of the campaign for the single transfer from SBW's to his account, plus 1% conversion fee from Faircoin to Euros applied by Bank of the Commons.
  • Real-time wire transfer via Sofort. The donor is not required to open an account on Sofort and has no additional fees while the recipient pays 0.25 € + 0.9% per transaction (here the updated conditions).
  • PayPal. The donor is not required to open an account on Paypal, can use one of his cards, or PayPal's prepaid or his Paypal's funds. Donor does not pay any fee while recipient pays 0.35 € + 3.4% (here the updated conditions).
  • Credit card via Stripe. The donor is not required to open an account on Stripe and does not pay any fee while the recipient pays 0.25 € + 1.4% for European credit cards or 2, 9% for the rest of the world (here updated conditions).

FEES - SBW AND SUSTAINABILITY

 

All campaigns, including fundraising, following emergencies and disasters see no fee by SBW (except for the above listed ones charged by payment gateways, independent from us).

 

For standard crowdfunding campaigns, SBW keeps the commission, to our knowledge to date, at market's minimum, of 3%, whose 50% is evenly redistributed among:

  1. regional solidarity economy fund managed by REES Marche (Ethical and Solidarity Economy Network);
  2. National Solidarity and Future Fund managed by Co-Energia;
  3. International Solidarity Economy Fund managed by delegates from SBW, REES Marche and Co-Energia.

These are the main points to know about.

What do you think?

-> Want to start a campaign? Click "Start a Campaign" here.

-> Feedback? Suggestions? Doubts? "Feedback" button on the left or the dedicated group here.

Looking forward to your comments!
The SBW Team

PS Let's not forget friends in trouble after earthquakes in Italy, let's help starting here!

SBW Team (@admin)

SBW Team (@admin)

Simply us....trying to make our Dream of a better world come true!
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