Despite the billions given to charities each year, nonprofit start-ups aren't nearly as successful as their private-sector counterparts.
Newly established charitable organizations often have difficulty attracting financing, and some observers say their failure rates are even higher than the large numbers of venture-capital-backed start-ups that falter yearly. However, one Texas-based organization is beating the odds while bringing smiles to cancer patients and their families.
CareBOX, a cancer charity, has an innovative approach that turns traditional nonprofit fundraising on its head. The organization touts a mission-driven business model that combines the power of crowdfunding with the simplicity of a gift registry.
Taken together, CareBOX provides donors with an easy and direct way to improve the quality of life of a cancer patient.
"Our website makes it easy to donate to patients in need. It's a 1-2-3 process that's quick and easy for the donor, but more importantly [it's] more efficient for the patient," said Lisa Keefauver, CareBOX's communications and program director.
By logging on to CareBOXProgram.org a donor can click on a patient's photo, read about their diagnosis and purchase items on the patient's specified "wish list," which will then be sent directly to their doorstep.
"Wish list" items include an array of essential-care supplies that are often not covered by insurance, such as hospital masks, medication cups, bed trays, shower seats, nutritional shakes and disinfecting wipes.