As part of a series comparing startups with similar models, today we compare two online fundraising sites: GiveMeaning and DreamBank. Both are based out of Vancouver; DreamBank launched this last Summer 2008, GiveMeaning was started in 2004.
Interface: DreamBank keeps things simple and paired down. GiveMeaning's site feels a tad dated, though is more rich with information, including a map view.
Costs: DreamBank takes a 2.5% fee "to cover transaction costs", but also "gives 10% of its net transaction revenue to the charities". GiveMeaning doesn't charge any fees, but accepts donations and has some advertising on the site.
Tax Receipts: GiveMeaning can issue tax receipts if the project is eligible. DreamBank does not deal with tax receipts.
Intention: Though the sites both perform essentially the same technical function, they have differing approaches in what they host. GiveMeaning hosts charities and personal projects that pass a proposal voting process. DreamBank describes itself as an "alternative gift giving service" that reduces materialism and also helps various causes. Though browsing through the "dreams", one sees that many users are using DreamBank for social change projects.
It's slightly ironic that DreamBank uses a .org TLD that would normally be associated with non-profit organizations, but is a private company, whereas GiveMeaning (.com) is a non-profit. Both are good platforms, which is most ideal depends on your particular project. Smaller, more personal projects will probably find a better home on DreamBank. Bigger ideas may be better suited to GiveMeaning. The only clear winning advantage goes to GiveMeaning: no fees.
GiveMeaning exists to reduce the barriers separating people’s generosity from the problems that need attention, close to home and far away. [more]
DreamBank is the new model for gift giving that makes giving & receiving the perfect gift easy, and helps create positive change for the planet and... [more]
I like the bringlight.com site for this type of charitable platform. Very clean with lots of potential. Although a somewhat different concept, I wasn't aware of the DreamBank site. Will need to dig into that one - interesting =)
"The only clear winning advantage goes to GiveMeaning: no fees."
... and perhaps more important: tax receipt
Thanks for taking time to write about us (and GiveMeaning, who we think is great and is doing fantastic work!). The posts are always appreciated.
This is a great opportunity for me to make a distinction. We definitely did not intend for DreamBank to play the same role a
GiveMeaning but there's been a bit of confusion about this. We think this is mostly because our own messaging wasn't explicit enough when we first launched (but we think is now).
We want to focus on changing the way people give and receive gifts amoungst family and friends. We provide a platform so people do not need to buy unwanted "stuff" as gifts and instead giving (and receiving) something that is very special. The key being that it's a public registry/exchange but with people you know at birthdays, Christmas, Graduation, Weddings, etc. DreamBank was not intended for projects soliciting random donations, though a few have turned up.
We are a .org because of our "all way win" business model with currently involves a percentage of revenue to charity and will be expanded out to other ways to raise funds for our charity partners as we grow. This is a foundational part of why we started the company.
We do have some altruistic users on the site who truly do not want anything.. Instead of getting gifts for birthdays, Christmas, etc, they have asked that friends and family contribute to a cause that's important to them. The distinction is, it's in lieu of a gift from friends and family and it's initiated by the gift receiver, no guess required. .
If someone is truly reaching out to do traditional fundraising for a project or cause then we really think they're better off using a site like GiveMeaning. In most cases more money goes to the charity and the contributor/donator can get a tax receipt. They are more optimized to help the fundraiser raise the most money for their project at the least cost. That's a better deal for the charities and the contributors.
Hope that clears it up a bit and makes sense.
Thanks,
Daw
