When over 120 nonprofit professionals show up for an 8:30am meeting on a frigid morning, you know there’s something major about to happen. This morning Culture Works introduced an online giving model, Power2give, an online cultural marketplace designed to connect donors with projects they are passionate about.
Originated in Charlotte, North Carolina after their arts community took a major downturn in 2008, the model has now been successfully implemented in over 20 markets, including Cincinnati and Indianapolis. Locally CareSource was the first supporter of the program, and host of this mornings meeting. DP &L has also stepped up to become major supporter for the launch of the program, with a $50,000 match to funds donated through the online site . Montgomery County Arts & Cultural District announced they will also be providing $10,000 in matching funds. Over the next month or so, local nonprofits will begin learning about Power2give and the site will go live on March 6th.
Perry Mixter, from the Charlotte Arts & Science Council, in town for the training today shared some pretty impressive statistics with the group this morning. In Louisville’s first year using the crowdfunding model, 81% of the donors were first time arts donors and the average gift was $50. Power2give sites have raised over $4.5 million dollars since the programs debut in August of 2011. Projects of $10,000 and under will be presented for up to 90 days and Culture Works will collect funds and grant them to the arts group within 15 days of a project closing.
Stay tuned for more exciting info on Power2give!