The Missouri State University Foundation, in partnership with Springfield, Missouri-based crowdfunding portal, CrowdIt, has recently launched a privately branded crowdfunding portal specific to MSU. The university’s crowdfunding portal will be used as a tool that provides a resource for students, faculty and staff to raise funds via crowdfunding for specific, approved projects.

Crowdfunding is a new trend, as well as a game changing tool in higher education fundraising. The process of crowdfunding involves the collective efforts of individuals who network and pool their money, via the internet, to support initiatives by other people or organizations. The projects monetary goals are typically smaller amounts – up to $10,000.

“Crowdfunding will allow the MSU Foundation to raise money for university projects, from our alumni and friends, along with others who are interested in a particular project,” said Brent Dunn, vice president for university advancement. “The announcement of such projects will be delivered via email, Twitter and Facebook, and proponents of the projects can also send them to their family and friends.”

The first crowdfunding project on the new Missouri State University Foundation portal, Back the Bear, helped raise money for the 2014 Senior Class gift of a bear statue to be located north of Plaster Stadium. The project raised 123 percent of its goal, which exceeded the $10,000 goal by $2,345. Since the initial site launch, additional student and faculty-led projects have been submitted and are receiving great support.

For more information about the Foundation’s current crowdfunding projects, visit www.missouristatecrowdfunding.org