CFA: Crowdfunding explained

GoFundMePROVIDENCE, R.I. (WPRI) – Rising medical costs associated with life-threatening illnesses and unforeseen accidents have more people turning their computer and a little kindness from strangers.

It’s called crowdfunding.  The fundraising tool once popular to finance creative startup projects is gaining momentum in the nonprofit sector.

“Our medical, illness and healing category is the most popular area of usage,” said Brad Damphousse, co-founder and CEO of GoFundMe.

Mandy Sheridan turned to crowdfunding after her son Madden was born with a rare genetic disorder.


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