Small Budget Horror Film

We are a small group of uni students who love film and are very keen to start producing. We had a range of people with different skills at our finger tips and a fair amount of professional equipment. The last piece of the puzzle is some extra funds to buy props. We plan to release the feature film for free for anyone who donates any amount of money. Without wanting to reveal too much the plan is to make a Blair Witch type film. Thank you in advance