Crowdfunding campaign for steeple reconstruction shows promise!Posted: March 26, 2015
By Esther Shim
Money flowed in through a Nuçi’s Space crowdfunding campaign which proved to be an efficient source of fundraising for the reconstruction of the rehabilitation center’s crumbling steeple.
The 145-year-old St. Mary’s Episcopal Church’s steeple was falling apart, and the church was demolished in 1990. “The remaining steeple stood unprotected and ignored till 2013,” said Dave Schools, the bassist for the band Widespread Panic, ”when the Homeowners Association transferred ownership to Nuçi’s Space.”
Now, thanks to crowdfunding, the steeple will be restored, and the area surrounding the steeple will be converted into a meditative garden for Nuçi’s customers and guests.
Nuçi’s Space’s “Reconstruction of the Steeple” Indiegogo campaign is an example of funding a project through the assistance of a community, a fan base, or a group of supporters through an online platform.
“Crowdfunding is by definition, the practice of funding a project or venture by raising many small amounts of money from a large number of people, typically via the Internet,” said Tanya Prive, a Forbes contributor. “Crowdfunding offers individuals a chance at success, by showcasing their businesses and projects to the entire world.”
The first successful crowdfunding event, according to Fundable: the History of Crowdfunding, was documented in 1997 as a British rock band funded a reunion tour from its fans’ pockets. Inspired by the campaign’s success, ArtistShare originated in 2000 as the the first creative platform to use fan funding to make musician-to-fan connections.
Crowdfunding exploded after its initial start, and according to Fundable, it immediately became a popular financing option for entrepreneurs to unleash their creative beasts. In the United States, crowdfunding revenue drastically increased from $530 million in 2009 to $1.5 billion in 2011, showing the popularity of crowdsourcing for funds..
So what makes crowdfunding so successful?
“The idea of it’s not what you do,” said Prive, “ but why you do it.”
Campaigners find a driving force behind a project, said Prive in an article on crowdfunding, or some special purpose that creates a sense of connection or relatability between people in a community. The general public then becomes the major source of revenue behind projects such as the campaign to reconstruct the Nuçi’s Space symbolic steeple.
The rich, musical history of the steeple inspired Nuçi’s Space to begin its campaign in November 2014 to preserve the iconic structure made famous by the band R.E.M., that lived in the steeple and had its first performance there. The 60-day campaign lasted until January of this year, according to the Athens-Banner Herald.
The goal was to raise $250,000 through the community’s charitable care and support. Entertaining incentives such as posters, CD recordings, posters, shirts, and much more were offered for various monetary donations.
The $100 “Steeple Brick/Name Recognition” package was the most elite and important one. Through this purchase, donors would not only take a part of Nuçi’s Space’s beloved Steeple but also have their name engraved on a wall that will be built in a meditative garden during the renovation of the Steeple.
The crowdfunding efforts raised $147,620, just a little over half of the campaign goal, according to the IndieGoGo campaign profile. Despite missing the goal, Bob Sleppy, the executive director of the campaign, said that the project was far from a failed effort.
The most important thing, Sleppy said, is that the campaign put Nuçi’s Space in the limelight. Crowdfunding drew attention not only from new people but also from top-tier media such as Rolling Stone and Billboard magazines.
Individual donors fund 70 percent of the facility’s operational costs, according to the Athens-Banner Herald, with donations ranging from $25 to thousands of dollars each year. Through the crowdfunding campaign, Nuçi’s Space has experienced more contributions from different businesses and individuals outside of its normal source.
$70,000 of the funds raised from the campaign will go into a reserve fund, said Sleppy, to use during hard times or low-budget circumstances.
The rest of the funds, said Nuçi’s Space counseling advocate Leslie Cobbs, will not only help construct a meditative garden around the steeple, but also help fund mental peer group sessions for anyone in the community who needs people to talk to.
Although Nuçi’s Space didn’t reach its campaign goal, it still raised enough funds to help kickstart a project to improve its facility. The campaign proved to be an excellent representative of crowdfunding as a source to support a community center..