Transparency is the central element of any charitable organization, as the ability to raise funds depends on the public's perspective of the organization. As a result, it can be difficult to manage a nonprofit organization, especially when raising funds for a project. In addition, raising funds for a nonprofit can be extremely intimidating, as numerous strategic plans must be completed.
While the project itself is important, the approach to raising funds must be considered. However, the days of going to different industries and submitting proposals for donations are long gone. Instead, various projects are now fully funded through online crowdfunding, which accepts donations worldwide.
As one would expect, there were always projects to complete for my NGO, and most of them required little funding, which the organization could usually handle. But on the other hand, the organization had a capital project involving high school teenage girls in small communities that required significant funding. As a result, funds had to be raised for the project to be achieved successfully. So, given the importance of the project, I decided to lead the fundraising team.
The Challenges With Our Approach
Ideally, the organization has two core strategies for raising funds: driving visitors to the donation website and sending request applications to recurring donors or donor agencies. However, these two strategies serve different purposes for the organization, as the website is for general donations from the public, and the requests are made to private bodies.
Challenges With The Donation Website
However, both fund donation methods had flaws, particularly in processing and receiving payments. For example, payment options on the donation website included card payments, bank transfers, and third-party payment gateways. Unfortunately, the donations made on the website are usually lower than the number of site visitors. This was due to the various challenges associated with the available payment options, and these donors generally want to make their donations quickly and sometimes anonymously without encountering any delay or difficulty.
Furthermore, using these payment methods to handle donations presented some other challenges. For example,
- It takes several days to process donations via wire transfers and direct deposits.
- Donations made through card payments or other online methods are subject to a high processing fee charged by online merchants.
- International donors had to deal with exchange fees and conversion rates.
- If there are problems with the payment, donations may be subject to chargebacks.
Challenges With Sending Donation Requests
On the other hand, sending requests to donor agencies and top personalities is similar to sending a proposal outlining the project's total cost. Typically, this request is sent via mail with a payment link attached so that the donation can be made. However, aside from the consistent follow-up on the request, another disadvantage of this approach is the processing time and the exorbitant processing fee charged. These transaction fees can be up to 5% of the total donation and are frequently charged to the donor, which can be discouraging for a transaction with no profit expectations.
An Alternative To Accepting Donations
As a result of these various challenges to the organization's funding approach, I decided to look for alternative ways to accept funds for the organization. And, because the strategies aren't the issue, but rather the payment method, Cryptocurrency was the only way to deal with the situation. In addition, Cryptocurrency's explosive growth presents compelling opportunities for nonprofit nonprofits to broaden their donor base and raise more money. Therefore, adopting crypto donations was not negotiable.
Despite the technical nature of Cryptocurrency, I can get the organization started by accepting crypto donations without a deep understanding. Surprisingly, the organization only needed a cryptocurrency wallet to accept cryptocurrency donations. And after conducting extensive research and reading numerous reviews, I discovered Cwallet to be the crypto wallet with the best wallet features.
Processing Donations With Cwallet
Cwallet services did more than accept cryptocurrency donations for the organization. Its unique payment button features simplify the process of accepting donations on the website.
As a result, donors could donate using their preferred Cryptocurrency while remaining anonymous. In addition, Cwallet serves as a payment processor and an organization account for storing donations. The best part is that no transaction fees were charged on donations, allowing the organization to receive more funds.
Similarly, the organization received donations from individuals and donor agencies using the Cwallet' Request' features. Once the request was created, all of the necessary project information was entered into the description box, and we could specify the transaction title as the project name, currency of their choice, and amount using the Cwallet Request function.
Moreover, unlike the traditional method, which takes 5% of the total donation, Cwallet charges no transaction fee, and all donations are processed and received for free. The Cwallet request function is interesting because it provides a link you send to donors to quickly make donations with just one click.
The link displays a payment code that can be scanned and contains all necessary project information.
The organization raised the needed money for the project seamlessly using Cwallet. In addition, donations were received from international bodies without incurring exchange and currency conversion charges.
Finally, on the Cwallet dashboard, we could view all requests and the total donation generated for each. Again, Cwallet managed the donation process with ease, and the organization raised more than enough money for the project.
Do you have a donation page? Do you want to seamlessly receive donations worldwide?
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You can use the Cwallet payment button to achieve similar results on your donation page from anywhere in the world without incurring any charges.
First, create a Cwallet account immediately, then follow these steps to create a payment button and add it to your donation page so that donors can quickly and seamlessly make donations. The best part is that it's absolutely free!
Similarly, follow these steps to use the Request feature and received donations from donor agencies without delay.
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