By crowdfunding via IAM’s fiscal sponsorship service, your crowdfunding donors can receive tax deductions for their gifts to your work. The usual IAM fiscal administration fee will apply, plus any additional partner fees. All funds received through these services will be processed and acknowledged exactly the same way as your non-crowdfunded donations.
Two weeks before launching any crowdfunding campaign – with IndieGoGo or any other service – you must provide IAM’s Operations Manager with the following information so that IAM can assist you in administering your campaign:
- Start and end dates of your campaign; and
- List of all perks in your campaign donation scale.
IAM has prepared an Excel spreadsheet to assist you in compiling the List of Perks.
When your campaign is complete, use this same List of Perks to provide IAM with the name, perk and total donation of each crowdfunding donor. With this information, IAM will process your campaign funds and distribute the donor confirmation letters.
Funds from your campaign will be available for regrant no later than 30 days after receipt of the completed List of Perks form with all of the information outlined above. Compiled donor information will then be available in your Monthly Financial Report.
** Please note that donations received through crowdfunding campaigns will not be regranted until after IAM has received the completed List of Perks form. It is your responsibility to ensure that this donor information is accurate and complete, not IAM’s.
Independent Arts & Media has entered into a partnership with IndieGoGo that provides you with a 25% discount for their crowdfunding services, plus certain promotional benefits. However, this partnership is non-exclusive, meaning that you can work with any crowdfunder you want, such as Kickstarter.
Crowdfunding with Kickstarter is a fixed 5% fee. For payment processing, Amazon Payments takes another 3-5%. If you want your Kickstarter funds to be tax-deductible for your donors, you have to run it through IAM’s Amazon Payments account and set that up BEFORE you launch your campaign.
IAM has entered an agreement with IndieGoGo that provides you with a 25% discount on their crowdfunding services and certain promotional benefits.
Here are quick links to the details:
Create an IAM-Affiliated Campaign on IndieGoGo (URL for creating your IndieGoGo campaign with IAM)
To create an IndieGoGo campaign as an IAM Affiliate, use this special URL link to create a campaign that is automatically linked to IAM. If you have already started to create your campaign without first linking it IAM, please contact IAM so we can notify IndieGoGo of your campaign.
Once your campaign is ready to launch – and is linked to IAM – IAM will receive an email from IndieGoGo asking us to review and launch your campaign. Only IAM can launch your campaign, so please let us know exactly when you want your campaign to go live.
Through our partnership, IndieGoGo will publicly “launch” your campaign – link to it on their home page, and promote us and your campaign through their website, newsletter, social media and promo mechanisms. Also, the more funds we collectively raise, the higher ranking we receive on the IndieGoGo Partner page.
If you fundraise on IGG through IAM, the IGG fees are 3% if you achieve your goal, and 6.75% if you don’t. This is a 25% discount on the standard 4% fee if you make your goal and 9% if you don’t. All funds raised through your IndieGoGo campaign is tax-deductible to the full extent of the law.
Please note that your campaign funds are also subject to IAM’s admin fee and any PayPal fees (which are also discounted through our nonprofit account).
Introduction to IndieGoGo (PDF): IGG’s house manual for setting up your campaign
IndieGoGo Training Tools (PDF): Key Links and Recorded Webinars
Key IndieGoGo help pages: