As one of the volunteer organizers of Mortgage Revolution, I’m pleased that we put Mortgage Revolution, a leading edge mortgage industry conference, together with Spot.us, a nonprofit organization developing the new journalistic models to fund stories that need to be heard.
Mortgage Revolution is an industry conference that shares the proceeds from conference fees after expenses to nonprofits like Spot.us. With the proceeds, Spot.us is able to test a new method for funding stories. The sponsor, in this case, Mortgage Revolution, puts together a survey with Spot.us to initiate a discussion on a topic relevant to the sponsor. Spot.us’s community takes an online survey of three questions about how the mortgage industry is perceived in the wake of the housing foreclosure crisis. Each respondent then receives $5 worth of credit to apply to the funding of the Spot.us story of their choice.
The model accomplishes three goals:
- Spot.us involves its community of readers to discuss issues related to the sponsors’ mission.
- The journalistic community wins by getting more stories written through “credits” derived from sponsor funding.
- The people win by “voting up” the stories they want funded and written.
Mortgage Revolution’s mission is to show mortgage professionals how to make their business simple and transparent to the consumer, and to change the perception of an industry tainted by the foreclosure crisis. Spot.us steps up and illuminates that mission to their readers. It’s a good fit.