Sunday, January 13, 2019
Dear friends,
A vast majority of you reading this letter are part of the Crowdfunding community—whether you know this yet or not, your knowledge, initiative, collaboration...and pocketbook have made our industry touch more lives than you might imagine. We at the Crowdfunding Professional Association thank you for all your imagination, hard work and follow-through, and celebrate with you the continued growth enjoyed by communities everywhere. I want to preface this letter by making certain my fellow volunteers at the CfPA are aware just how fortunate we are to have their gift of time, knowledge and leadership—thank you, again.
At its simplest, Crowdfunding lives at the intersection of crowdsourcing and alternative finance, and even until recently was seen more as a funding method for ventures too risky for conventional capital or for entrepreneurs lacking loan-worthy collateral or relevant experience. But in just six+ years since passage of the JOBS Act, Crowdfunding has grown exponentially to touch every community in ways few saw coming so fast. Crowdfunding gives faith and support to the risk takers and dreamers that a diverse economy demands. And as a matter of global competitiveness, as a nation, creation of capital is a mantra. Fortunately, Crowdfunding serves both as lifeblood for an underserved demographic and a bridge to the conventional finance marketplace demanding more mature, validated enterprises
This rapid expansion happened for many reasons, not the least of which was a growing public erosion of faith not just in government, but also in numerous collapsed industries, most notably banking and real estate. Therefore it is not entirely unsurprising that these two industries have seen stratospheric growth from Crowdfunding, with Peer-to-Peer Lending quickly eclipsing annual Venture Capital investment, while Real Estate platforms provide lower-cost and equitable access to investments previously out of reach to everyday Americans (non-accredited investors). Other areas to attract fresh capital from the Crowd with great success include consumer electronics, community/social impact, and, in contrast to dwindling public sources, support for the arts through clever, competitive financial instruments crucial to the artists, musicians and filmmakers who factor fundamentally in a culture’s quality of life.
Professing love for small business has never been more popular in politics, and in an era of outsourcing and offshoring, never has supporting entrepreneurs been more important to our economy and culture. Leaving the business of helping small business to the same politicians who now spend over half of their working-hours seeking funds securing their own jobs, it should be no mystery why a non-profit trade group like ours is such an important member of such an important and growing community. From our contribution in working with legislators on accelerating the opportunities that Crowdfunding affords us all—whether innovator or investor—to our ongoing role as a watchdog ensuring the intent of that legislation is reflected in the rules and regulations implemented by our government, the CfPA loves small business.
Unlike students “getting back to school” each fall, the best work of our association’s many volunteers tends to commence at the start of each new calendar following a frenetic year- end rush both professionally and personally. At last count, there are 34 remarkably generous board members, advisors and committee members freely contributing considerable mindshare and expertise toward pursuing our noble mission. I emphasize “toward” because, as an organization, our ultimate fulfillment always remains just over the horizon—we never cease adding goals, and therefore welcome anyone interested in joining us in any capacity toward providing members and the larger community the best guidance and oversight possible. If you want to learn more, just email us anytime at Contact@CfPA.org.
Our map for the year ahead features many destinations, and I hope to report by 2020 that we have successfully:
- Challenged our diverse leadership to actively recruit more volunteers able to widen our reach and deepen our knowledge through service on committees, councils and boards.
- Earned our reputation on The Hill by providing relevant and insightful guidance to and oversight of legislators and regulators.
- Educated and informed entrepreneurs and investors through regional and virtual hosted live & interactive events, readily accessible experts in our branded ECO, and original content on our website and social media domains.
- Anchored the CfPA in service to the broader community by continuing to form meaningful alliances with institutions of higher learning, corporations, communities and foreign bodies in both government and trade.
These goals may seem ambitious, but I am more than confident that our collective is more than capable of delivering on the promise of a trade organization built by the people for the good of the people.
We remain committed and at your service. To a brilliant year ahead...
...our warmest regards,
Scott E. McIntyre
President/Chair
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Crowdfunding Professional Association – www.CfPA.org – contact@cfpa.org 7 Times Square c/o Brian Korn - 23rd Floor New York, NY 10036
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