Crowdfunding Will Change Philanthropy—But How?

As reported on, crowdfunding generated more than $34 billion in worldwide donations, equity funding, and person-to-person lending in 2015. In North America, it’s estimated that number was $17 billion, an 82 percent increase for the most recent year’s statistics available. More than 22 percent of Americans have already contributed to some kind of crowdsourced online project, according to research conducted by Pew Research Center. Field leader GoFundMe has topped $3 billion since it was launched in 2010, and there are more than 3,500 other social giving platforms around the world.