1025.000.00 Cash and Securities (OAA and PTD)

1025.015.20 Crowdfunding

IM-96 September 22, 2021

Crowdfunding is the practice of funding a project or venture by raising money from a number of people, typically via the internet. Crowdfunding is also known as Indiegogo, Fundly, Patreon, Smallknot, RocketHub, and GoFundMe. This list is inclusive, but not an exhaustive list of Crowdfunding third-party networks.

Cash received during a month is evaluated first under the income counting rules; if retained until the first moment of the following month, are subject to the rules for counting resources at that time.

Income given directly to the participant is considered as a non-recurring lump sum when the entire account value is available to the participant; and will be counted as a resource if retained into the following month.

When only a portion of the account is made available to the participant in recurring lump sum payments, staff will need to evaluate to determine the frequency and duration of the income.

Crowdfunding income received is counted as unearned income/contributions in the month received.

Funds that are placed into a restricted account for medical (see 1025.015.18 Restricted Accounts Established by the Courts) or a special needs trust (see 1025.015.04.01 Special Needs Trusts, Supplemental Needs Trusts, and Pooled Trusts) will be reviewed differently depending on whether the funds are given to the participant directly or the account is set up by a third party.