From the Boulder Jewish News
Crowdfunding is a rapidly expanding Internet tool designed to allow large numbers of people to invest or contribute money in support of new businesses, people in need, interesting ideas or important causes. Its recent growth is impressive.
In 2012, crowdfunding supported more than 1 million global campaigns. The amount raised was $2.7 billion, an increase of 81 percent from the year before. In 2013, it is expected that the amount contributed to global crowdfunding campaigns will almost double to more than $5 billion.
Of these billions, hundreds of millions of dollars are being raised specifically for philanthropic purposes. Increasingly, people are associating crowdfunding with an easy and effective way to contribute money for a wide variety of good philanthropic causes.