Brian Baldwin has launched BuyitForward to help nonprofits by helping you sell your unused stuff and donating the proceeds to charity. He is raising money on Fundable.. Recently, I caught up with Brian to learn more about the effort; here’s what he told me:
What is the social benefit you hope to achieve with or through your crowdfunding campaign?
The average household in the US has over $7,000 of unused items ($857 billion nationally), we intend to turn as much of that into cash to support worthy causes through the BuyitForward marketplace.
BuyitForward’s mission is simple; make it easier to give more, to more great causes. Exclusively for nonprofits (public charities and churches), Buy It Forward provides access to an additional and much greater resource of funding, by efficiently converting household items into cash and giving all the proceeds directly to the nonprofit. In addition to the capital resources, the BuyitForward marketplace provides many turnkey tools for fundraising as well as best practices, making use of campaigning and social media strategies. Now everyone can give in some way! Buy it Forward’s platform focus, is to make it easy to use, so it’s easy to give, regardless of personal income or demographic. Engaging Nonprofits, Donators and Buyers to participate earnestly will drive this mission.
How much money are you hoping to raise and why? How much have you raised so far?
We hope to raise $500,000 through the combined effort of friends and family, as well as Fundable.com. Those funds will be used to create brand awareness, build infrastructure and support nonprofits with resources in a way to engage their supporters to donate and buy to support their cause. To date we have been self-funded in the amount of $125,000.
Whom are you trying to help with your project and why?
The number of nonprofits in America has doubled in the last four years, while the total giving has barely increased. In fact total 2013 giving ($335.17 billion) was lower than it was in 2007 ($349.5 billion). For most nonprofits raising capital is very challenging -on many levels. Using this as motivation, we aim to increase the access to capital, and at the same time achieve greater constituency engagement and community outreach on behalf of great causes.” At Buy It Forward we operate with the understanding that we aren’t doing good, we’re just making it possible for others to do more good..
Please describe your offering.
Buy It Forward is seeking $500,000 dollars from investors, which represents a 20% equity ownership. The $2.5 million dollar post-money valuation is based on the development of the working platform, cultivation of the nonprofit user pipeline, development of business collateral and an initial investment of $125,000 in working capital by the founders. BuyitForward intends to disperse significant royalties annually to its equity shareholders. In the event of an acquisition, investors would receive their pro-rata benefit based on equity ownership. A pro forma is available by request.