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Currently, small and medium-sized enterprises (SMEs) have been the mainstay of technological innovation. Given the paucity of financial support, equity crowdfunding has become a popular way for SMEs to obtain project funds in recent years. Based on all successful crowdfunding projects on Seedrs, an equity crowdfunding platform, we delved into the impact of the content not displayed on project’s presentation page, particularly past fundraising experiences, on fundraising performance. Additionally, we empirically explored the influence of three dimensions, namely whether there was past fundraising experience, the number of past fundraising experience(s), and the amount of the last fundraising, on the fundraising ratio and the number of investors. The research results indicate that (1) the fundraising ratio is not significantly related to whether there was past fundraising experience and the number of past fundraising experience(s), but positively related to the amount of the last fundraising; (2) the number of investors is not significantly related to whether there was past fundraising experience, but positively related to the number of past fundraising experience(s) and negatively related to the amount of the last fundraising. Theoretically, we explored the relations between the information not displayed and fundraising performance from the perspective of past fundraising experience, supplementing and enriching the related research. Practically, we revealed the information searching behaviors of investors and guided the crowdfunding platforms in the information display.

Nonprofit organizations (NPOs) play a central role in many economies in the form of private entities serving a public purpose. Strengthening the fundraising capabilities of NPOs can have a large impact on their survival and effective functioning. NPOs typically elicit financial contributions through multiple forms of giving, such as donation and membership. These options enable individuals to express their altruism by giving in one or multiple forms. The authors develop a utility-based multiple discrete-continuous model that provides insights into potentially large differences in individuals' giving behaviors. Through Bayesian Gaussian processes, the model also incorporates changes in givers' preferences for forms of giving. The authors apply their model to five years of individual giving data. They find that the effects of lifetime, recency, seasonality, and appeals on donation and membership options change nonmonotonically over time and in distinctive ways. The authors demonstrate that the model estimates help predict who will give in more than one form in the future as well as build appeal targeting strategies. The model also shows that fundraising attempts should emphasize participation rather than amount, and that long-lapsed members are still worth pursuing for renewal, whereas long-lapsed donors are less productive for repeat giving.

We provide the first field evidence pointing at the role of pure self-image, independent of social image, in charitable giving. In an online fundraising campaign for a social youth project run on an opera ticket booking platform, we document how individuals seem to engage in self-deception to preserve their self-image. In addition, we provide evidence on stark adverse long-run effects of the fundraising campaign for ticket sales. “Avoiding the ask,” opera customers who faced more insistent online fundraising buy fewer tickets in the following season. Our results suggest that fundraising management should not decide in isolation about their campaigns, even if very successful. Rather, broader operational concerns have to be considered. This paper was accepted by Yan Chen, decision analysis.

Recent studies have analyzed the factors that contribute to variations in the success of crowdfunding campaigns for a specific cancer type; however, little is known about the influential factors among crowdfunding campaigns for multiple cancers. The purpose of this study was to examine the relationship between project features and the success of cancer crowdfunding campaigns and to determine whether text features affect campaign success for various cancers. Using cancer-related crowdfunding projects on the GoFundMe website, we transformed textual descriptions from the campaigns into structured data using natural language processing techniques. Next, we used penalized logistic regression and correlation analyses to examine the influence of project and text features on fundraising project outcomes. Finally, we examined the influence of campaign description sentiment on crowdfunding success using Linguistic Inquiry and Word Count software. Campaigns were significantly more likely to be successful if they featured a lower target amount (Goal amount, β=-1.949, z score=-82.767, P<.001) for fundraising, a higher number of previous donations, agency (vs individual) organizers, project pages containing updates, and project pages containing comments from readers. The results revealed an inverted U-shaped relationship between the length of the text and the amount of funds raised. In addition, more spelling mistakes negatively affected the funds raised (Number of spelling errors, β=-1.068, z score=-38.79, P<.001). Difficult-to-treat cancers and high-mortality cancers tend to trigger empathy from potential donors, which increases the funds raised. Gender differences were observed in the effects of emotional words in the text on the amount of funds raised. For cancers that typically occur in women, links between emotional words used and the amount of funds raised were weaker than for cancers typically occurring among men.

Medical crowdfunding provides opportunities for individuals who lack financial resources to access the health services that they need. Despite the popularity of medical crowdfunding, the current understanding of the success of medical crowdfunding campaigns is fragmented and inadequate. We aimed to comprehensively investigate which factors lead to the success of medical crowdfunding campaigns. A search was conducted in PubMed, PsycINFO, Web of Science, ACM Digital Library, and ScienceDirect from 2010 to June 2020. Papers directly and indirectly related to the success of medical crowdfunding campaigns were included. Two reviewers independently extracted information on the success of medical crowdfunding campaigns. Our search yielded 441 articles, of which 13 met the inclusion criteria. Medical crowdfunding is increasingly attracting academic attention, and most studies leverage text analysis as their research methods; however, there is a lack of consensus on the definition of medical crowdfunding among researchers. Four categories of factors that affect the success of medical crowdfunding were identified: platforms, raisers, donors, and campaigns. Although some limitations exist in our systematic review, our study captured and mapped literatures of the success of medical crowdfunding campaigns systematically, which can be used as the basis for future research on this topic.

Medical crowdfunding has emerged as a growing field for fundraising opportunities. Some environmental trends have driven the emergence of campaigns to raise funds for medical care. These trends include lack of medical insurance, economic backlash following the 2008 financial collapse, and shortcomings of health care regulations. Research regarding crowdfunding campaign use, reasons, and effects on the provision of medical care and individual relationships in health systems is limited. This study aimed to explore the nature and dimensions of the phenomenon of medical crowdfunding using a visual analytics approach and data crawled from the GoFundMe crowdfunding platform in 2019. We aimed to explore and identify the factors that contribute to a successful campaign. This data-driven study used a visual analytics approach. It focused on descriptive analytics to obtain a panoramic insight into medical projects funded through the GoFundMe crowdfunding platform. This study highlighted the relevance of positioning the campaign for fundraising. In terms of motivating donors, it appears that people are typically more generous in contributing to campaigns for children rather than those for adults. The results emphasized the differing dynamics that a picture posted in the campaign brings to the potential for medical crowdfunding. In terms of donor's motivation, the results show that a picture depicting the pediatric patient by himself or herself is the most effective. In addition, a picture depicting the current medical condition of the patient as severe is more effective than one depicting relative normalcy in the condition. This study also drew attention to the optimum length of the title. Finally, an interesting trend in the trajectory of donations is that the average amount of a donation decreases with an increase in the number of donors. This indicates that the first donors tend to be the most generous. This study examines the relationship between social media, the characteristics of a campaign, and the potential for fundraising. Its analysis of medical crowdfunding campaigns across the states offers a window into the status of the country's health care affordability. This study shows the nurturing role that social media can play in the domain of medical crowdfunding. In addition, it discusses the drivers of a successful fundraising campaign with respect to the GoFundMe platform.

This study examines how the success of reward-based crowdfunding (RBCF) is affected by two narrative styles—namely “results in progress” (RIP) and “ongoing journey” (OJ)—and by the entrepreneur’s RBCF experience. Our findings reveal that greater success in collecting funds is achieved by RBCF campaigns that are communicated through RIP narrative styles rather than OJ styles. Moreover, we have underscored the positive effect brought about by an entrepreneur’s RBCF experience. In addition, we highlight how these two factors interact with each other in their overall effect on successful fundraising through RBFC, showing that entrepreneurs with extensive experience in RBCF attract more pledges by adopting OJ narratives rather than RIP narratives. The outcomes of this study advance the theoretical understanding of success factors in RBCF and provide RBCF entrepreneurs with suggestions regarding the most appropriate narrative style to adopt, depending on their level of experience.

In the Dutch Republic, charitable collections were regularly organized by both religious and secular authorities. This book examines the policies of church boards and town councils in organizing these charitable appeals, as well as the general population's giving behavior. Using archival sources from the towns of Delft, Utrecht, Zwolle, and 's-Hertogenbosch, Daniëlle Teeuwen shows how these authorities deployed organizational and rhetorical tactics-including creating awareness, establishing trust, and exerting pressure-to successfully promote fundraising campaigns. Not only did many relief institutions manage to collect large annual sums, but contributions came from across the socioeconomic spectrum.

We study the effects of defaults on charitable giving in a large-scale field experiment on an online fundraising platform. We exogenously vary default options along two choice dimensions: the charitable donation decision and the “co-donation” decision regarding how much to contribute to supporting the platform. We document a strong effect of defaults on individual behavior but nevertheless find that aggregate donation levels are unaffected by defaults. In contrast, co-donations increase in the default amount. We complement our experimental results with a structural model that investigates whether personalizing defaults based on individuals’ donation histories can increase donation revenues.