Classy

Author: Kalicia Bateman

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The Good

• Model type
• Fund type
• Maximum allowed raise
• Deadlines
• Receiving funds
• Administrative work options

Model Type

Classy operates on a Personal Donation model. This crowdfunding platform allows users to run three different types of campaigns-including donation, peer to peer, and ticketed & registration events. Organizations also have the ability to run a campaign for specific projects or hold a year-round fundraiser allowing continuous donations to a campaign with no time limit.

Fund Type

In addition to offering flexible fee options, Classy uses a "Keep What You Raise" fund type. This gives the fundraiser the ability to keep what they have raised even if they fall short of their goals.

Maximum Allowed Raise

Classy's 'Keep what you raise" fund type allows organizations to keep whatever funds acquired with no minimum fundraising requirement. There are no detailed deadlines or goal requirements, giving fundraisers maximum flexibility.

Deadlines

With Classy, you can create campaigns with or without an end-date. If you choose to campaign without an end-date, it's considered what Classy calls "Open-ended" or "Rolling". Open-ended (or "rolling") campaigns allow your supporters to donate all-year-round. They can do this by creating personal fundraising pages, hosting a 3rd-party ticketed event or just making a donation. This option is unique among crowdfunding platforms and is perfect for non-profit organizations or a business who wants to take ongoing donations through their website or other online platforms.

Receiving Funds

Once your campaign ends or if it is open-ended, the funds donated to you are transferred in real time as they come in. This is another unique feature that Classy offers that users will like. Most crowdfunding platforms take at least 24 hours to 3 days to transfer funds-even if it is electronic transfer. If you need your money right away, Classy makes this possible.

Administrative Work Options

All of your donor and fundraiser data is stored safely in your Classy account. You are provided a suite of reports that can be sorted, filtered and exported. Each campaign that you create on Classy will also have its own set of corresponding reports and analytics. You can even add custom fields to fundraiser registration and donation forms to collect additional information about your supporters. Classy is also designed to be plugged right into your website. You can add a Donate /Fundraise Now button to your organization's website or build a custom micro-fundraising site with progress bars. In addition, Classy is able to integrate your website with the following applications:

• Salesforce
• MailChimp
• Authorize.Net
• PayPal
• DonateDouble
• WePay

This means you can fully run your campaign from your very own website-a very good option for organizations raising funds on a regular basis.

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The Bad

• Fees

Fees

Classy offers straightforward service with flexible pricing, simplifying the crowdfunding process. Classy offers 3 different start up packages ranging from $0 to $1,499 for organizations to choose from based on their needs:

• $0 for startup with 5% transaction fee
• $499/month with 2% transaction fee
• $1,499/month with 1% transaction fee

The more expensive the package, the more administrators can be added to a campaign and the more campaigns and events can be run by the same organization. It gets less affordable the higher you go-especially for social impact organizations.

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The Bottom Line

Classy provides social impact organizations with a simple-to-use platform to meet their fundraising needs. The ability to integrate campaigns on their own website allows organizations to connect to supporters and appeal for donations from individuals who are sympathetic to their cause. While different funding options may limit the features available to an organization, the features offered to all users make crowdfunding simple. Although it can get expensive, Classy is worth exploring for social impact organizations seeking funding to affect change in the world.