October 11, 2024 10:24 AM
Image Credit: Getty Images/Andrii Dodonov
The landscape of school funding has undergone a dramatic transformation in recent years, with technology emerging as the pivotal force in its evolution. Educational institutions across the nation are grappling with a perfect storm of financial challenges: budget cuts that strain resources, staff shortages that stretch existing faculty thin, and event costs that have skyrocketed to unprecedented levels.
Despite these hurdles, community expectations for quality education and enriching extracurricular activities have not only persisted but intensified. Operation costs for high school programs have increased year over year as inflation has risen, placing significant burden on athletic directors—just one example of broad-scale pressures facing schools today. As the landscape continues to shift, the introduction of cutting-edge platforms and strategic collaborations are vital aspects in offering a lifeline to institutions navigating these treacherous waters.
Financial burdens resulting from COVID-19 extend far beyond beloved extracurricular activities. These financial strains underscore the urgent need for more efficient and effective programming and fundraising methods, seamlessly allowing for HomeTown’s market growth.
As school districts across the nation call for a solution to a seemingly intractable problem, two innovators have notably emerged to change the educational fundraising landscape. The collaboration between HomeTown and Schoolfundr transpired as a comprehensive solution for schools to outsource and easily manage both event ticketing and fundraising efforts. This integration, led by Hometown CEO Nick Mirisis and Schoolfundr CEO Dennis Levene allows schools to streamline their revenue generation and management processes under the shared goal of saving time and resources.
Founded in 2016, HomeTown modernized the way educational institutions and community organizations handle event ticketing and management. The rapidly growing platform provides a game-changing solution to schools struggling with outdated, labor-intensive methods of ticket sales and revenue management for various events, from athletic competitions to artistic performances and social gatherings. HomeTown is a leading online digital ticketing and event management service serving over 5,000 schools across 21 states.
Founded in 2022, Schoolfundr emerged as an education funding platform that addresses the fundraising challenges faced by school administrations to raise funds from their communities. Schoolfundr offers a unique no-fee model, allowing schools to keep 100% of the funds they raise, minus only the standard ~3% credit card processing fee. This innovative approach starkly contrasts the traditional fundraising platforms that charge payment processing fees, which can range between 20% and as much as 30%. Schoolfundr’s innovative no-fee model represents a paradigm shift in school fundraising. Unlike competing platforms, Schoolfundr operates on a voluntary tipping system, allowing donors to contribute to the platform’s operational costs if they choose.
This approach has resonated strongly with donors who appreciate the transparency and the fact that their entire donation goes directly to the intended cause. According to Schoolfundr CEO Dennis Levene, donors are keen on “speaking with their wallets” to endorse Schoolfundr’s mission rather than just its product.
Despite widespread donor fatigue for school districts, Schoolfundr has seen overwhelming support through generous tips. Many donors, having experienced other platforms for years, have even rejected typical fundraising efforts in the past due to high fees. However, when educated about Schoolfundr’s transparent approach, they are motivated to donate and often choose to leave a tip. This model not only allows greater revenue collection for schools but also fosters trust and goodwill among donors, who appreciate that their contributions are being used more effectively to support students and educational programs.
Impressively, 60% of Schoolfundr’s donations come from outside the local area code, Levene said, demonstrating its ability to tap into broader networks of support, while thriving off of a no-fee model.
Both HomeTown and Schoolfundr have transformed previously manual processes based on shared trust and transparency values. These two power players recognized the clear value in digitizing two critical components of school event programming, allowing them to simultaneously disrupt the school programming landscape and maximize business benefits.
HomeTown’s extensive reach, having enabled thousands of schools to make the digital transformation post-COVID, provides a robust platform for Schoolfundr to amplify its message and solidify its impact. Just a few years ago, such a model seemed unimaginable, with schools relying heavily on traditional fundraising models like bake sales and labor-intensive car washes.
Now, building on HomeTown’s successful digital ticketing and event management transformation, schools can look forward to another game-changing shift in how they raise funds and manage events. This partnership not only simplifies fundraising but also guarantees that schools keep a significantly larger portion of the funds they raise, with Schoolfundr’s commitment to zero platform fees.
The adoption of digital fundraising platforms like Schoolfundr has a significant impact on schools’ ability to fund programs and initiatives. Schools have raised substantial amounts to support various activities. One example is Hough High School in North Carolina, which saw six teams raise over $42,000 for uniforms, equipment, and travel expenses, according to a case study on the relationship between Schoolfundr and Hough HS.
Even large school districts, like Charlotte Mecklenburg School District, are using Schoolfundr’s platform to manage and run campaigns for their districts, raising hundreds of thousands of dollars to help students in reaching their full potential.
The partnership between Schoolfundr and HomeTown represents a powerful combination of fundraising and operational tools for schools. This partnership allows schools to streamline both their fundraising efforts and their event management, creating a more efficient and effective system overall. As CEO Nick Mirisis leads HomeTown through its expansion, the company is poised to further transform the event management landscape for educational institutions.
As the industry evolves,, it’s clear that the future of school fundraising and event management is digital. Platforms like Schoolfundr and HomeTown are leading the way, offering innovative solutions that align the interests of schools, donors, and technology providers. In doing so, they’re not just changing how schools raise money and manage events – they’re helping to ensure that every student has access to extracurricular resources, spirited events, and a community to remain a part of.
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Source : VentureBeat