My trainer was telling me yesterday that he had contributed to a GoFundMe account for the police officer that was shot here in IL this week, and when I told him that they take a percentage off of the top, he was shocked. I think a lot of people don’t know that they take a cut of the donation. For that reason, I’d rather give directly, whether there are tax implications or not. I want to know all of my money is helping a cause.>>>>>>>>>
If you both have Paypal, you can send money directly. I honestly don’t know what the fees are.
I did not know that about GoFundMe but wouldn’t it make sense that there are administrative costs for them as well?
Sure they have administrative costs, but it seems excessive at 5%. I would have thought it would be a smaller cut - like paypal - given the volume. For the record, gofundme is a for profit online platform not a nonprofit.
We had a big scandal last week on the ebay message board for sellers. A frequent poster, who happened to have also been a customer of mine, posted about having everything stolen by his drug-addicted son. We were all so shocked and saddened that most people’s gut reaction was to immediately offer cash donations. Someone named walterwhitedbda claimed to have set up an account and the link spread quickly. I clicked on the link and saw that it had been created five days before the ebay post and alerted everyone. Later on, someone mentioned that Walter White is the bad-guy drug dealer in the show Breaking Bad. The whole thing was a scam and I still don’t know who is to blame. Everyone had to ask for their money back. Someone started a PayPal (2%, but may be a way around it if gift) account for him, with his e-mail address (I could verify because that’s what he used when he bought from me) but I learned my lesson and am going to pass on this one.
My interpretation of gofundme from their FAQs is they take 5% + 2-3% for credit cards off the top, so if you donate $100, the recipient gets $92-93. If you want them to get 100%, keep that in mind.
The dog rescue I foster for has used YouCaring to fundraise for specific dogs. They either don’t have fees or the fee is lower. You can also set it up so it is tax deductible if you are working through a 501C3. Just thought I’d mention that. I’ve never been involved in that part so I’m not sure how it all works but when I have donated it does show up as a donation to the rescue.
I’ve donated to gofundme a few times, when its people I know or I know the family, etc.
I have contributed to gofundme several times–it’s been for friends of my D, who are actors looking for funding for a show they are creating. A popular mom-and-pop business in the place where we have a vacation home solicited funds on gofund me or something similar in order to expmd the business. H thought. It was a dumb idea and couldnt believe
Youcaring has no overhead fee but does deduct the 2.90% plus $.30 per transaction which the credit card companies, PayPal, stripe and wefund assess. This means that if you donate $100, the recipient gets $100 - $3.20 for a net of $96.80, which is 5% more than if you donate to gofundme and they get their 5% cut. The recipient in that case would get $91.80 of the $100 donation.
Our local market has an annual drive. If you donate to 501c3 nonprofit charities that have registered with during the month of September and follow their rules, they absorb the processing fee for CCards AND will add a pro rata amount to all donations. It allows you to stretch your donation dollars a bit further. They do double check that charities registered in their program are IRS approved and donations qualify for tax deductions. Last year, we received donations of about $350 and the market added another $75 or so. This year, we are hoping for greater participation. It is free for charities to register and participate. The market with Western Union donates $300,000 to charity under this program. This will be the 2nd year we participate.
A friend of my sisters son went to South Africa for a study abroad and apparently was taken out to sea by a riptide. It was on the news. They set up a go fund me to pay for helicopter search team and to fly over there to search. They found his body.
I contribute to the collection basket every Sunday. I know where that money is going and trust the people disbursing it.
In the aftermath of Superstorm Sandy, when I hear of a disaster that particularly strikes me, I go online and find a church or synagogue-- the denomination doesn’t matter-- that’s doing disaster relief on the local level and send a check. People throughout the country were so very wonderful to LI (and NJ and the rest of the effected area) that I now get it, and will continue to pay it forward. So, for example, the Moore and Joplin tornados both warranted checks.
When someone I know is in need, I’m happy to help. So the Christmas after Sandy, my husband and I gave each other $300 each to distribute among the people we work with who had lost their homes. The $50 I was able to give each of 6 coworkers may not have solved their problems, but at least it let them know they were in our thoughts.
I used to donate blood regularly (until my oncologist told me he “didn’t think it would be a good idea.”).
But I’m very hesitant to send a check to someone who says they need it, with no further documentation. I would much, MUCH rather go straight to the source.
I’ve given a few times to funds for people facing a catastrophic health problems. I’m not sure what the organization was called.
I haven’t given to a friend’s sister who was raising money so she could pay the studio fees needed to record some of her music. No thanks, that’s your own project!
I contributed to S1’s best friend’s parents after they lost their youngest son to neuroblastoma. With 4 years of huge medical expenses, they just couldn’t afford the funeral. I appreciated the opportunity to make a large anonymous donation.
However, I refuse to donate to kids who request money for study abroad or college expenses.