What the Budget of 2017 means for crowdfunding in India

The budget 2017 has brought both challenges and opportunities to the nonprofit sector in India. The two main announcements that impact the development sector are expected to completely change the landscape of how people do charity and how nonprofits accept it. The first is the cut down on the limit of cash donations one can make, second is the alterations in the tax exemption clause.

 

The recent demonetization move in India revealed what digital India will look like in the years to come. That said, social problems won’t be going away anytime soon, so the need to fundraise is indispensable.

Let’s discuss what the Union budget announcements of 2017 will mean, and how they will impact the world of crowdfunding.

 

Reduction in amount of cash donation

 

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The amount of cash that one can donate anonymously to an organization has been reduced from Rs 10,000 to Rs 2,000. This is a major crackdown on political funding. It is a bold step towards curbing illegal activities and money laundering that nonprofits may be involved in. In any case, it will always be more beneficial for a genuine donor to give donations with proper documentation and through registered banks because it will add credibility and accountability to the organization’s utilization of the funds.

 

So what does this mean for crowdfunding in India? It means that nonprofits need to start embracing technology and digital tools to raise money for their cause. No longer can they sustain themselves in this competitive ambiance, by using traditional methods of fundraising. They will have to invest their efforts in online fundraising platforms such as Impact Guru.

 

Removal of clause 35AC

 

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Clause 80G allowed a tax rebate of almost 50% and 35AC of almost 100%. The union budget 2017 announced the removal of clause 35AC, which has been a cause of worry for the development sector. It allowed 100% tax exemption to individuals and companies that donated to certain specific charities that are required to be verified by the central government. Experts believe that removal of this provision will also remove the most valuable incentive that motivates people and organizations to donate.
With regards to crowdfunding, it means that nonprofits will have to use newer and more creative techniques that incentivise people to donate. Online crowdfunding platforms use digital and social media tools, as opportunities to draw in funds. 

Therefore the time has come for more people to shift to such platforms and create new processes to sustain that conducive environment for giving in such times of unpredictable dynamism. 

More and more charities have begun to see the need for digitization in achieving their social mission, and the announcements in the Union Budget of India 2017 seem to be a positive catalyst for it. It remains to be seen how nonprofit organizations react to the changes that are coming their way.

For any queries regarding online donations, you may visit Impact Guru and speak to our fundraising consultants for more clarity on recent developments.

5 ways to Raise Funds for Cancer Treatment

 

From doctor’s bills to expensive medications and tests to radiation and chemotherapy, cancer devastates millions of lives every year. Inability to get the financial help for cancer patients often leads to lost hopes, and sufferers just giving up.

 

But today thankfully, there are newer and more innovative ways to raise funds for cancer treatment, such as crowdfunding, that are not only easier and faster but also come without the long-term implications such as interests on loan.

 

This World Cancer Day, Impact Guru presents to you a list of 5 ways, you can raise funds for your loved one who is fighting cancer:

 

Online crowdfunding campaign for cancer patients

There are several online portals for crowdfunding, such as Impact Guru that enables you to use the power of technology to ask people to donate for your treatment costs. All you have to do is create a compelling campaign story, accompanied with audio-visuals, that can be directly aimed at potentials donors, such as cancer survivor networks, and others involved in philanthropy. Once your campaign is put out to the people, anyone who connects with your cause, will donate and help you fight the disease.

 

A fundraising event for cancer patients

There are various kinds of charity events that you can organize, to have people come together for a good cause. Some ideas for cancer fundraisers are: charity runs for patients on World Cancer Day, musical concerts, bake sales, etc. All you have to do is mobilize the crowd by inviting them to your event. Let them know about the disease, how long you’ve been fighting it, what type of cancer you have, and which treatment can save your life. Not only does it provide financial help for the cancer patient, but it also allows people to be part of a fun activity.

 

The power of virality on social media

Remember the ALS ice bucket challenge? Within 2 days, everyone was aware of the disease. It became so viral, that celebrities and famous personalities were doing the challenge on social media, and asking people to donate to the cause. That was one of the most successful, viral fundraising activity that ever took place to raise awareness for a disease.

 

Direct donations from your family and friends

Your family and friends are your closest and most supportive network. Since they know you personally, they will surely step forward to help you raise money for your treatment. These are the people who care for you most and want to see you get better, so don’t hesitate in contacting them for help.

 

NGOs, private trusts, and government schemes

There are several associations for cancer aid, and cancer survivors, that give financial assistance to people who cannot afford treatment. Aside from that, there are also several government schemes, that help sufferers with grants, to pay for expensive treatments.

 

We hope this list helps you in case, you are raising funds for someone who is fighting cancer. Being a sufferer of this fatal disease is never easy, and adding to the sorrow is the struggle that families go through to raise sufficient funds for treatment. The most important thing is to not give up hope and to employ these innovative methods in emerging out safe and sound.
Click here and start raising for Cancer treatment.

5 Reasons why your nonprofit should collaborate with a Startup

Startups and for-profit organizations have recognized for long the value of collaboration and teamwork. Strategic alliances have benefits that go way beyond their monetary value. These include strategic communications, larger audiences, credibility, and brand image. That is just one aspect. Startups and young entrepreneurs today are driven by their age and their knowledge of the millennial generation, i.e the influencers. Their enthusiasm and awareness can greatly benefit any nonprofit initiative, and further a good cause.

So here are 5 reasons why collaboration with a startup might just give your nonprofit that extra edge in doing things better.

  1. Entrepreneurs are potential donors

 

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Startups are a solid partnership for a nonprofit because of the funds available to them. There is a whole market of people out there who can dedicate time and energy in analyzing startup strategies, and invest heavy amounts in them if the idea sounds brilliant. That said, entrepreneurs make for great potential donors for your NPO. There are funds available for branding activities such as advertising, public relations, social media, and other platforms for communication. Such resources can be shared by teaming up with them. Thus Non-profit collaboration with start-ups is a win -win deal for both of them.

2. New innovative ideas

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Startups bring fresh ideas to the table. Since a majority of the startups in our country are youth based, the ideas that are generated come from the influences of the larger population. Besides that, entrepreneurs are people who embrace risks fearlessly and such an approach can always prove beneficial in inspiring your team to become go-getters without limits. So if you’re a non-profit, desiring that ground-breaking impact, then collaboration with a start-up is a must!!

 

 3. Loyal user/customer base

 

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It is well known that most startups have an initial network of friends and family that constitute a really loyal support base to bank upon. A nonprofit, therefore,  can always collaborate with a start-up, to leverage that network and convert it into a stable donor base, using effective and targeted communication. Most startups today take advantage of a community that is narrowing down every day due to social media. This means that entrepreneurs embrace collaborations with other startups, in order to maximize profits, as well as increase customers. For instance, there are large Facebook groups dedicated to communicating the innovations of startups. So collaboration with a startup gives a non-profit, exclusive access to a community that is driving path breaking change, across economy and society.

 

4. A chance to grow with them

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While a startup may be small in the beginning, everyone aims to expand their business. They usually chalk out detailed growth plans that can take their organization from a regional, to national, to international standards. When you are in the shadow of a company with aggressive expansion plans, you have a great opportunity to grow with them! This is why non-profit collaboration with start-ups could be the way to fast-forwarding social change and progress.

 

5.  Credibility

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Collaboration between nonprofits and start-ups is a symbiotic relationship that benefits both. While start-ups enhance their overall goodwill by firmly implanting their CSR imprint on firmer shores, nonprofits gain a lot by embracing their overall dynamism and leveraging their fast-expanding social and geographical reach. By attaching itself with a credible start-up, a non-profit can always gain that extra boost of corporate legitimacy- thus becoming more attractive to large donors.

For a non-profit collaboration with a start-up may seem as a risky proposition in the beginning, as they do not have an established name in the market. However, one cannot ignore the fact that these young startups with fresh ideas are the most driven, and have a better understanding of the youth’s relationship with philanthropy.

 

So don’t be afraid to step out of your comfort zone! Strike a partnership today.