Smart Money
October 2, 2007
Back to School, Back to Fundraising
For fundraisers looking for an alternative to selling baked goods,
candy and wrapping paper, a team of social entrepreneurs today
announced the launch of Give2Network.com, a new Web site that funnels
a ****tion of Yahoo!'s billion dollar advertising revenue and a
percentage of online shopping sales to schools and other nonprofits.
Give2Network offers schools and nonprofits an easy way to raise funds
and improve communication with sup****ters. In addition to serving
nonprofits now, Give2Network's founders' long-term goal is to use a
****tion of revenues to develop new web-based tools for nonprofits to
use free of charge.
The key tool offered by Give2Network is a free customizable toolbar
powered by Yahoo! that generates money for nonprofits whenever it's
used for Internet searches or online shopping with participating
retail Web sites. The toolbar also displays announcements sent out by
the nonprofit's group coordinator.
The founders aim to pair the economic power of online searching and
shopping with the affinity people have for their schools, church
groups and other nonprofit organizations. "Give2Network provides a
simple way to fundraise just by doing something you normally do every
day," said Candace Ng, who along with Frank Bell and Erik Hovanec
created Give2Network.
Although any nonprofit can benefit from Give2Network, Ng and Bell saw
an op****tunity to help schools in particular. In the last few years,
more than 90 percent of schools raise supplemental funds to offset
funding shortfalls. "Increasingly, public schools lack significant
funds for academic necessities, and that gap has to be filled by
parents, teachers and the community," says Ng. "This is an extremely
simple way to make money that's increased exponentially by the number
of sup****ters who use the Give2Network toolbar."
Give2Network estimates that each search or purchase can earn between a
few cents and several dollars for a designated school or nonprofit.
With 500 sup****ters who search the Internet a couple times a day and
make minimal online purchases, the funds could add up to $12,000 a
year.
The vision for Give2Network goes beyond fundraising. In addition to
the estimated 50 percent of revenues that goes directly to registered
nonprofits, other earnings are being reinvested to develop free Web-
based tools for use by nonprofit organizations. Tools will include
interactive volunteer sign-up sheets and easy-to-update "wish list"
forms.
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