For project funding, Citizinvestor was a
civic crowdfunding
Crowdfunding is the practice of funding a project or venture by raising money from a large number of people, typically via the internet. Crowdfunding is a form of crowdsourcing and alternative finance. In 2015, over was raised worldwide by cro ...
website that describes itself as a "crowdfunding and
civic engagement
Civic engagement or civic participation is any individual or group activity addressing issues of public concern. Civic engagement includes communities working together or individuals working alone in both political and non-political actions to ...
platform for local government projects on the
United States."
Overview
Citizinvestor was an online
crowdfunding
Crowdfunding is the practice of funding a project or venture by raising money from a large number of people, typically via the internet. Crowdfunding is a form of crowdsourcing and alternative finance. In 2015, over was raised worldwide by crow ...
platform specifically focused on raising money for public projects and community
infrastructure
Infrastructure is the set of facilities and systems that serve a country, city, or other area, and encompasses the services and facilities necessary for its economy, households and firms to function. Infrastructure is composed of public and priv ...
, started in
Tampa, Florida by Jordan Raynor, Tony DeSisto, Erik Rapprich, and Joy Randels.
It was launched in partnership with the city of
Philadelphia.
It was inspired by a case in
Davis Islands where the community wanted a swimming pool repaired, but the city did not have the finances to do so;
citizens successfully raised the funds with events and going door-to-door and this became the model for Citizinvestor.
The founders hope to "spark a rise of
micro philanthropists".
The platform allows citizens to promote independent projects through a
petition process and also works with city officials to crowdfund civic projects that were planned but abandoned due to budget constraints.
While anyone can start petitions for new projects, projects can only be submitted by government entities, usually
municipal governments.
Donations are
tax deductible
Tax deduction is a reduction of income that is able to be taxed and is commonly a result of expenses, particularly those incurred to produce additional income. Tax deductions are a form of tax incentives, along with exemptions and tax credits. T ...
,
and donors are not charged if their project does not reach its funding target.
Unlike other crowdfunding platforms, no perks/rewards are offered.
The site's initial focus was on projects: between $10,000 and $20,000.
Citizinvestor also offered a
software as a service product, Citizinvestor Connect. Local
municipalities,
public-private partnerships,
economic development organizations, and
nonprofits
A nonprofit organization (NPO) or non-profit organisation, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in co ...
can license the platform and customize it for their organization, leveraging it to raise funds and engage with their community.
References
* McLaughlin, Brendan
Crowd funding website finds a way to improve neighborhoods when the city has no moneyabc Action News. 13 Sept 2012
* Morisy, Michael
The Boston Globe. 12 Nov 2012
* Rosen, Kenneth
Citizinvestor Helps Grab The Ears of Local GovernmentsMashable. 18 Sept 2012
* Root, Anton
Citizinvestor Launches in Philadelphia CrowdSourcing 17 Sep 2012
* Brooks, James
Boston Business Journal. 7 Nov 2012
Feel-Good Friday Announcement: CITIZINVESTOR!Philadelphia Planeto. 14 Sept 2012
* Schwagler, Nathan
Citizinvestor: Crowdfunding Local Projects, Tampa83 Degrees. 11 Sept 2012
CitizinvestorAngelList. 26 July 2019
External links
*
{{Crowdfunding platforms
Defunct crowdfunding platforms of the United States
Political software