Boosted, New Zealand’s crowdfunding platform for the arts has funded 45 arts projects, granted $250,000 and has a success rate of 62%. It is being celebrated as an effective and exciting new way to fund arts projects.

Run by an experienced team of business leaders, who are themselves artists with an understanding of the commercial landscape in which artists work, these achievements give the Boosted team an opportunity to celebrate its position in the New Zealand market and confirms that Boosted’s unique method of crowdfunding is working very well.

There is a proliferation of crowdfunding websites internationally and a growing number of sites in New Zealand catering for different needs. The main measure for site performance is the percentage of projects that reach their funding goals. This is because most sites return donations to donors for projects that do not reach their goals.

With other international and national success rates averaging less than 50%, Boosted has achieved a success rate of 62%. The Boosted team’s approach to work closely with artists and arts professionals on their individual endeavors’ has helped drive this exceptional success rate. Boosted has now established its reputation as the go to crowdfunding environment for New Zealand artists.

Boosted Manager Mark Michel said the team will use this milestone as an opportunity to celebrate with the arts community, having established a trusted way for artists to raise the funding they need to bring their projects to life.

“We are looking forward to marking this significant milestone by toasting a successful eight months. While the New Zealand crowdfunding market is becoming more crowded, we believe we offer a proven environment that works hard for New Zealand artists, backed by a passionate team who are building an ecosystem that will deliver a long term funding solution,” said Michel.

A not for profit, where 100% of the proceeds are used to benefit the arts, Boosted as purpose built by the Arts Foundation of New Zealand to support the arts. It differentiates from other crowdfunding websites in a number of ways including providing high-level campaign advice to projects within the context of a deep understanding of the funding opportunities for artists. It also enables artists to reward their audiences in sophisticated ways that do not require costly items in return for pledges like CDs and T shirts as is required on other sites.

Donors win on Boosted as well as all donations qualify for a tax credit. Donors receive a 33% tax credit on any donation made to a project, while the artists receive 90% of donation, with 10% retained to help the Arts Foundation run Boosted and cover hard costs. “We have had a great response to the tax effective status of donations on Boosted”, said Michel. “There are a number of donors that make significant donations and many who make regular small donations. These donors tell us they are looking forward to receiving their tax credit at the end of the year”.

http://www.mch.govt.nz/news-events/news/boosted-works-arts