Hatchfund vs Other Crowdfunding Sites

Hatchfund vs Other Crowdfunding Sites

by April 29, 2015

Many artists have a vision, but do not have the financial means to develop that dream. Here at Hatchfund, we excel at making art projects spring to life! Hatchfund is a non-profit crowdfunding site built exclusively to support the arts. What makes Hatchfund different from other crowdfunding sites?

Crowdfunding Built for Artists

There are a number of crowdfunding sites, and some may even be better known than Hatchfund. But they tend to be generic, allowing anyone to post any kind of campaign. That creates a mixed bag of site visitors, many of which are not interested in funding arts-centric projects. A list of the top funded campaigns on sites like Kickstarter and Indiegogo reveals a mix of electronic devices, video games, and even political campaigns. The arts are sorely underrepresented across most traditional crowdfunding platforms.

Hatchfund is different because it is built entirely for artists. Our tools and visitor demographics are designed to favor artists and those interested in the arts. We understand the unique needs and concerns of artists, and have created a crowdfunding platform that is truly unique in the industry.

Artists Get 100% of Funds Raised

Most crowdfunding sites collect a percentage of contributions in order to make their money. These fees typically range between 7-10%. Hatchfund is completely free for artists. Once you reach your minimum funding goal, everything your campaign raises is yours to keep. There are no hidden fees, no surcharges, and no surprises.

In order to pay for our own operating expenses, we openly ask donors to make two additional donations: a minimum 5% donation to Hatchfund and a 5% donation to cover transaction processing costs. All donations are also tax-deductible for donors, which makes the whole process of contributing to the arts transparent, honest, and efficient.

Match Funds

Match funds are a means of accelerating an artist’s funding goals by offering grant challenges from individuals, groups, corporations, and foundations. They are direct donations to an artist’s project, but are unique from one another depending on the donor’s intent. There are different types of match funds, and each has differing criteria. One may be for artists in a certain location. Another may be for those who practice in a certain medium or discipline. Upon meeting the requirements for the match fund, the funds become automatically available to an artist’s project in real time. This makes it easier for artists to achieve their goals and hit their funding targets, and is a feature completely unique to Hatchfund.

Education and Support

At Hatchfund, we understand that your passion is art not fundraising. One of our primary objectives is to make fundraising as easy as possible. Our team of industry-leading experts has devised a program of educational services designed to help artists successfully navigate the sometimes challenging world of crowdfunding. From “Fundraising 101” to case studies, best practice guides to project development tools, and features designed to improve an artist’s outreach, our system is built from the ground up to make crowdfunding the arts as simple as possible.

Our results speak for themselves: 75% of all artists who have turned to Hatchfund have successfully funded their projects. We are able to achieve such a high success rate due to our hands-on approach to fundraising. Once an artist enrolls and starts work on a project draft, they are assigned a project manager. Project managers will help to ensure your campaign is compelling, true to your artistic voice, and includes just the right dash of urgency to help build momentum. They can also give you direct advice on crafting email and social media outreach,how to best ask for contributions, and what to do if your campaign experiences a hiccup.

Tax-deductible Donations

One of the most compelling features of Hatchfund to fund your next project is that all donations to Hatchfund are tax-deductible to the full extent of the law. Why? Because these donations simultaneously support the individual artists’ projects as well as the non-profit mission of Hatchfund (powered by AIM, a not-for-profit organization with IRS 501(c)(3) tax exemption status). Donors not only get the satisfaction of donating to the arts and the perks of their contribution, but they will also be able to deduct the donation on their taxes. A true win-win!

If you have any questions, please feel free to give us a call at 877 893 0587. Or begin the enrollment process here: Artist Enrollment