Purpose Crowdfunding (CF) is rapidly emerging as a burgeoning industry, revolutionizing the financing of entrepreneurial projects. In donation-based Crowdfunding (DCF), Donors provide financial support without expecting financial returns, driven solely by social or personal motivations. This study aims to assess the creation of social impact through donors' strategic decisions in DCF of Social entrepreneurship projects. Design/methodology/approach This research uses a case study approach to analyze a DCF campaign in Iran for a social entrepreneurship project. Finally, the results of a social return on investment (SROI) analysis were examined through game theory. Findings Social value was measured through an SROI assessment that compares food distribution and employment generation interventions. The values obtained from the social impact calculation were then incorporated into a game theory model to examine how trust and perceived SROI jointly influence donors' strategic decisions and the resulting equilibrium outcomes. Originality/value First, this study demonstrates that DCF can lead to widespread social impact and make a significant contribution to social entrepreneurship initiatives. Second, integrating trust and SROI within a game theory framework revealed that donors' preferences and strategic decisions determine the social impact generated in CF campaigns for social entrepreneurship projects. Third, trust, as a catalytic factor, can enhance the success of high-impact social entrepreneurship projects in DCF campaigns. This study contributes to the success of entrepreneurs and CF platforms by providing a comprehensive understanding of the factors that drive a DCF project's success.
Sadabadi et al. (Tue,) studied this question.