A specific fundraising need. Why are you raising money? What will the funds go toward? The more detailed you are, the more your donors feel like they’re having a direct impact on something they support, and the more likely they will be to give. MIT Crowdfunding is not a resource for endowment, capital, or personal projects. Projects must support MIT programs and initiatives. Funds cannot be redirected to a third-party, external charity or other nonprofit.
A team of enthusiastic volunteers. The more people reaching out to their friends, family, and peers about the campaign, the more people to potentially support your campaign.
An interested base of supporters. This base is who you will reach out to when your campaign starts.
A plan for outreach. MIT Annual Giving can provide planning and guidance support, but the key to successful crowdfunding is tapping into personal networks—your most dedicated supporters love MIT, but they REALLY love you and your project.
A realistic goal. Your target goal should take the following into consideration:
- the financial need of your project
- the size of your potential donor base
- your personal contacts
- the level of individual dedication invested by your project team

A formula for goalsetting we like to use is 4(# of contacts) = Probable $ Raised.

For example, if you have 1,000 email addresses on file, you should make your goal around $4,000. It is best to set realistic and attainable goals and strive to surpass them. You can always increase your goal if the campaign is doing well.

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