1:1 Fund's Impact Report Shows Crowdfunding Model for CSAs is Stronger Than Ever
The 1:1 Fund was launched in 2003 with a purpose of encouraging individual donors to match Children’s Savings Account (CSA) contributions made by young people. Now, the 1:1 Fund and its 17 partner organizations have passed the $2.5 million mark in fundraising--as highlighted in our recently released 2018 Impact Report.
The 1:1 Fund’s National Match Pool has given the overall fund the ability to match donations made to our 1:1 Fund partners during quarterly fundraising campaigns. The National Match Pool–funded primarily by large gifts from Prudential and the social savings app Kidfund—fulfills the vision of Prosperity Now founder Bob Friedman, who predicts that this match pool will affect multiple generations. Donors would provide matching dollars to leverage the savings of CSA participants, and the 1:1 Fund would provide matching dollars to leverage the generosity of those donors. It’s what the 1:1 Fund has done for the past six years.
Following a substantial matching success last year, the 1:1 Fund grew its online fundraising total by 21% from 2017 and boosted its donor base by 11%. Explicit results of this success includes a fundraising total of over $285,000 by 1:1 Fund partners, and almost $257,000 in matching dollars.
Other highlights from the 1:1 Fund’s 2018 Impact Report:
- Promise Indiana raised an astonishing $83,202 from more than 325 donors during the June Graduation campaign - the largest amount ever raised by a 1:1 Fund partner in a single, week-long campaign. In that same campaign, Inversant brought in a haul of more than $16,000 with an average donation of $352—the largest average donation size for a single campaign in 2018.
- Thirteen partners participated in #GivingTuesday last year and raised more than $110,000.
- Springboard to Opportunities held a 5K “Race for Our Community” in April with more than 200 Jackson, Mississippi-area residents, and raised more than $34,000 for initial deposits into CSAs.
- Two new organizations in Missouri—SEED Success and KC Scholars—joined the 1:1 Fund in the fall of 2018.
Continued success by 1:1 Fund partners is based on positive relationships. St. Louis Treasurer Tishaura Jones said, “The 1:1 Fund has been a wonderful partner for College Kids since shortly after I got started as St. Louis City Treasurer in 2013. With the 1:1 Fund’s help, more students have access to resources to achieve their dream of higher education.”
The success of the 1:1 Fund would not have been possible without the unyielding support of our individual donors and a multitude of partners, for which we are grateful. To learn more, view the Impact Report.