Crowdfunding: A Healthy Practice?
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Date
2016-04
Authors
Reid, Stephanie
Journal Title
Journal ISSN
Volume Title
Publisher
Mount Saint Vincent University
Abstract
With the growing shift to digital fundraising within non-profit organizations, the crowdfunding model is increasing in popularity. Given that crowdfunding platforms are not fully understood, this study applied institution theory to help explain the adoption of crowdfunding practices in non-profit health organizations in Canada. More specifically, can institution theory offer insight into the adoption of crowdfunding platforms by non-profit health organizations in a Canadian context? Through qualitative interviews at the organizational level, this study collected information on the decision-making process of individual organizations and the logics that ultimately led them to launching crowdfunding campaigns. Factors that contributed to the successes and failures of individual campaigns were also discussed in detail. The researcher concluded that institution theory could in fact offer insight into the adoption of crowdfunding platforms. Participants not only acknowledged the importance of their organization’s digital presence but also its potential impact on future organizational success. This included the organization’s ability to appeal and attract a younger demographic of donors (i.e. Generation Y). Although crowdfunding offers a unique and cost-effective solution to non-profit organizations, participants acknowledged that significant resources are required to ensure success.
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Keywords
crowdfunding , digital fundraising , non-profit , health organizations , institution theory