If you’re trying to raise money to film a documentary, create the next “big” app or support a cause near and dear to your heart, you’ve probably researched the benefits of crowdfunding vs. grants. While both provide the necessary funding to finance important projects, the two have a number of differences. The nature of your project and the organization you’re working with will likely determine the route you take.
Crowdfunding vs. Grants
Not sure whether you should be pursuing crowdfunding or grants? Learn more about these two funding methods to help decide which is right for you:
Revenue Source: Crowdfunding backing comes from a diverse group of people making individual contributions to support your cause, whereas grants are funding by institutions.
Availability: There are countless crowdfunding programs to choose from, allowing you to select the most suitable to your target market. Conversely, as federal funds and financial support from other organizations continue to decrease, competition for grants is more intense
Selection Criteria: To gain financing through crowdfunding, users are typically required to set up a campaign on their platform of choice and promote that campaign. However, grants often have a lengthier application process, including interviews, essays and more.
The Landfill Harmonic Enjoys Overwhelming Kickstarter Success
The team behind the wildly successful Landfill Harmonic documentary experienced overwhelming success raising money for the film on crowdfunding site Kickstarter. Produced by Alejandra Amarilla and her team, the film tells the story of a youth orchestra in the barrios of Paraguay. A resourceful and creative garbage picker uses his imagination to make instruments for the young musicians out of recyclable materials like plastic pipes, metal drums and tin cans.
Production began back in 2010, with the filming of a group of children learning to play the drums, violin, cello, flute and other musical instruments. The film crew returned in 2011 for an update on the progress of the young musicians.
The project became a Kickstarter sensation, with nearly 5,000 donors banding together to provide financing. While Alejandra Amarilla and her team had originally set a fundraising goal of $175,000, they ultimately earned $214,129 ─ an awe-inspiring 23 percent increase. Thanks to the hard work of Alejandra Amarilla and her team and the generosity of the donors, the world can now have a glimpse of what can happen when a community comes together to do something truly great.
A highly successful crowdfunding campaign made all of this possible. The savvy work of Alejandra Amarilla and her team produced a beautiful documentary to share with the world. People are now able to watch the story of the Landfill Harmonic and become inspired by the incredibly moving story of how trash and recycled materials can be transformed into something beautiful.