#Does go fund me take a percentage free#

In 2016, the company projected revenues of $100 million. Its business model is built on the number of donations it processes. The company asks donors to leave aВ tip after making a donation.

#Does go fund me take a percentage free#

That means if a campaign raised $1,000 through 10 donations of $100 each, GoFundMe would collect about $32.В GoFundMe no longer charges a platform fee, so it is free for people to start a campaign. It chargesВ a 2.9 percent payment-processing fee on each donation, along with 30 cents for every donation. In those cases, the campaign organizer can elect to continue receiving money. Sometimes donations willВ be released to campaign organizers who have a direct, personal connection to the beneficiary. They are typically released only to the named beneficiary. How are donations collected and distributed?Дonations are routed through GoFundMeВ payment processors. But they can quickly go viral.ДЄlso, in the event of national tragedies, donors can go directly to GoFundMe to look up campaigns and choose where to donate. The company says campaigns start by sharingВ links among friends through email and other social-networking sites. They setВ a goal, or how much they hope to raise, then describe why they need the moneyВ through stories and photographs. Users create campaigns to address a need. It is essentially a secure way to collect and distribute electronic payments or donations. The San Diego-based company describes itself as the world's largest 'social fundraising platform.' It has raised more than $4 billion in donations from 40 million donors since starting in 2010. Here are some facts about GoFundMe: What is GoFundMe? How does it work? Who gets the money? And howВ do you verify if the requestВ is legitimate?

ItВ has become a fixture in livingВ rooms and hospital rooms,В as aВ way to raise money for everything from a prom dress to life-saving operationsВ not covered by health insurance. There are many online donation sites, but GoFundMe is the biggest. Under its previous pay structure, the company madeВ more thanВ $124,000 in the eight days after the Sutherland Springs shooting. GoFundMe currently collects a 2.9 percent processing fee and 30 cents on each donation. A week after the shooting, nearly $1.5 million had been raised on 28 different GoFundMe accounts.Д«ut as much as GoFundMe helps people by raising money, it is also helping itself to a share of the money raised. Two daysВ later, more than $1.2 millionВ had been raised fromВ 17,000 donors. 5, 2017,В shooting that left 26 dead and 20 more injured at a rural church in Sutherland Springs, Texas, GoFundMe campaigns had been established in the names of victims. GoFundMe is America's answer to mass shootings and other national tragedies.