Tallyfunder, a new crowdfunding website based in Girdwood, is adding a new twist on traditional crowdfunding models. By turning $1 donations into votes, Tallyfunder allows everyone to support local nonprofit programs. Most people, young and old would like to support local nonprofits but many people do not have the ability to donate large sums of money. However most people can afford to give $1 and these small donations can add up to a large impact. Each week Tallyfunder has 4 different categories each with 3 different nonprofit organizations. Voters can then purchase votes for $1; the votes will then be turned back into dollars to be distributed to the organizations based on how they rank in the final voting. Every organization will receive some funding.
Over the past 5 years crowdfunding has undergone exponential growth, as it has moved from a tool for funding independent musicians and film makers to a viable funding source for a wide variety of business ventures. Crowdfunding works on the premise that getting small donations from a large pool of people rather than getting a few large donations from a small number of lenders. The power of the internet and social networks make it easy to reach a large number of people from all around the world in a very short amount of time.
The launch of TallyFunder shows the innovative, entrepreneurial spirit that is thriving in Alaska. AKSourceLink was proud to be one of the first organizations to be represented on TallyFunder.
Content contributed by Lisa Wedin, AKSourceLink. AKSourceLink is a proud affiliate of U.S.SourceLink, America’s largest resource network for entrepreneurs.