The Frequently Asked Questions (FAQ) section answers some of the most commonly asked questions the Paronicity team receives.
In crowdfunding, the crowd always comes before the funds. So the biggest benefit you generate from any crowdfunding campaign (even if you don't reach your funds) is publicity first and foremost.
Crowdfunding democratizes the access of capital and funding in a way where people get to cast a vote with their dollars about what they want to see created. This grassroots support provides the freedom to not be solely dependent upon a bank, a grant, or a few donors for support.
Through online engagement, Project Creators have the ability to connect to those far and wide. Patronicity is unique in that we offer a space for you to add offline donations that you may have collected through traditional forms of fundraising as well. This provides a tool to keep track of all contributions that went towards your project during your campaign.
If you are still not sure how crowdfunding can benefit you, email us at firstname.lastname@example.org! Feel free to pick our brains and will help you figure out if it’s the best fit for you.
These are all great platforms, and it's important you choose the best one for your needs. Below are a few things that make Patronicity unique:
Vision - We are committed to building a vibrant communities across Michigan. Every project on board now becomes part of creating that vision, every new patron is one more in a movement committed to the state.
Personalized Support - Raising funds can be scary. We provide one-on-one support by coaching you throughout the whole process. From developing your pitch, selecting the best perks, to creating a funding strategy. Our team has crowdfunded dozens of projects, so we know what it's like to ride that roller coaster.
Offline Donations - Patronicity offers a simple way to add donations you collect through offline fundraising to your campaign for everyone to see the progress you are making towards reaching your goal. Our platform is a great tool to keep track of all contributions made towards your project during your campaign.
Sponsors - Patronicity looks to partner with Sponsors who step in on a larger level offering grants for qualifying projects. Be a sponsor today and allow us to manage a grant that is proven through community support.
It’s absolutely free to create and launch your project. We will provide support and advice from beginning to end. We just collect a standard 5% fee on all funds raised. In addition, our credit card processing company, Stripe, collects a 3% processing fee for all online contributions. If you don't raise any funds we don't collect any either. That's because your success is our success. It's that simple.
New to Patronicity, donors have the option to cover all fees at checkout. They will be charged additionally on top of their contribution amount if they select to do so.
Depends - All-or-Nothing funding is typically much more successful (up to 8 times!), but also more stressful. Not only are you incentivized to reach your goal but your supporters are as well.
On the other hand, partial funding is good for projects that can use whatever they raise, no matter how small. It's important to be honest with your donors as well. If you're offering rewards for donations that can only be fulfilled if the whole project gets funded, you should choose all-or-nothing.
Feel free to reach out to us if you're still not sure what's best for you.
Hassle-free Evaluation Process: Patronicity serves as the filter to evaluate projects to ensure they meet your grant requirements and qualify. We manage the evaluation process and pass on the specifics of the project to you for a quick final approval or rejection.
Doubling the Impact: Your dollars are multiplied, as projects through our CrowdGranting model have to reach out to the community to raise funds and prove its worth within the community to receive the match.
Widespread Publicity & Exposure: As a Sponsor, projects are going out far and wide to collect contributions, reaching thousands of potential supporters and all the while publicizing your support towards their project. Your name is connected to every social media post, email blast, tv spot, and news article about the project.
Community Support: The community weighs in and projects therefore only receive matching funds after showcasing its support from the greater community. This added vetting process adds to the projects sustainability as so many vested parties are coming in to make this project possible.