Question

Sean is looking for sources to fund a community event. He posts his idea on a website describing his project and asking for donations for his project. He also offers incentives based on the donations made. For every $30 a person donates, they get a coupon book. For every $100, the donor will be acknowledged with their name and picture on the billboards advertising the event. Which source of finance is Sean looking for?

Answer 1

Fundraising or crowd sourcing

This is a source of funds that involves the gathering voluntary contributions of money or other resources, by asking for donations from individuals, businesses, charitable organizations and other agencies. It is usually used to raise money for a good cause.

Answer 2

The answer is reward crowdfunding, as he is giving people who donate incentives such as a coupon book or a spot for their name on a billboard.