SmartyPig announces PhilanthroPig, a custom fundraising site

At today’s Finovate conference in New York, SmartyPig co-founder and COO Michael Ferrari (left, photo by Finovate Conferences via Flickr) took the stage to announce the Des Moines-based startup’s newest product, PhilanthroPig, a custom fundraising site. According to a company press release, the product will launch in closed beta next month with a University of…

SmartyPig co-founder and CEO Michael Ferrari announces PhilanthroPig at Finovate Fall 2010. Photo by Finovate Conferences via Flickr.

At today’s Finovate conference in New York, SmartyPig co-founder and COO Michael Ferrari took the stage to announce the Des Moines-based startup’s newest product, PhilanthroPig, a custom fundraising site. According to a company press release, the product will launch in closed beta next month with a University of Texas alumni fundraising network, 1883 Council. A wide release is set for early 2011.

Later next year, SmartyPig plans to launch PhilanthroPig internationally and release a political fundraising site – using the same technology infrastructure – in time for the Iowa Caucases. SmartyPig’s press release describes the product as “the safest, easiest and most effective way for non-profits of any size to turn donors into advocates and dramatically expand their fundraising reach and results.”

Screenshots of the product have yet to be released, but today’s press release provides this information:

At 4% of each donation and no setup fees, monthly fees or custom build costs, PhilanthroPig will give non-profit organizations of any size:

  • Proven and audited technology infrastructure to accept both credit card and bank-to-bank donations.
  • The ability to brand the site exactly how they see fit, create multiple goals and use the latest and greatest Web 2.0 functionality.
  • A safe and simple way for advocate to fundraise at the goal level for these organizations, creating a very personal and grassroots experience that operates inside their own social networks.
  • Details real-time donor reporting and exploration of user data.

In short, SmartyPig sees the online social influence of individuals converting into real value for organizations raising funds. “With PhilanthroPig, the advocate not only donates but helps gather donations from either those who believe in the advocate him or herself, or those who share in the belief of the cause,” said SmartyPig CEO Bob Weinschenk in today’s press release.

Since SmartyPig’s original social savings product launched in April 2008, SmartyPig customers have opened savings accounts with more than $500 million in U.S. deposits and have reached more than $300 million in savings goals. In the coming years, it’ll be interesting to watch SmartyPig make an impact on the nonprofit and politcal space like it has for its costumers in the money savings space.

This story is part of the AIM Archive

This story is part of the AIM Institute Archive on Silicon Prairie News. AIM gifted SPN to the Nebraska Journalism Trust in January 2023. Learn more about SPN’s origin »

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