I mention it because I think donors would like to know how much of their donations make it to where they want it to go. It has helped many people raise money since the website launched in 2010. I mention this not to throw water on GoFundMe’s role in raising money for individuals and organizations that need help. I’ve also contacted GoFundMe twice this week with questions but have not received a response from a member of its team. GoFundMe did not respond to my question asking for a total number of donations for Harvey related campaigns.
#Does go fund me take a percentage plus
In total of the $4.5 million dollars in total Harvey donations, GoFundMe has made $355,500 plus the 30-cent per donation. As of right now, GoFundMe has profited over $21,000 from this one campaign. On top of that is the 30-cent take on each donation. Using those numbers and even rounding down on the total amount of donations, GoFundMe has kept over $17,000 of the $224,000 raised. That money has been raised by 5,691 people in the past 5 days. As I write this, the “Harvey Disaster Animal Fund” has raised $224,435 dollars of a $25,000. That works out to an average monthly benefit of 1,430.73 or 17,168.76 a year. Generally, for of every dollar you pay in Social Security taxes: 85 cents goes to a trust fund that pays monthly benefits to retirees and their families. The campaign has been verified by GoFundMe and is a reputable agency that clearly needs donations. Many people wonder where their Social Security tax dollars go. I did some math on one of GoFundMe’s trending campaigns that benefits a non-profit organization, 4paws, which needs money to care for an influx of pets that have been displaced from their homes and owners. That’s a large profit for a company that’s completed $4.5 billion dollars in contributions. I found it hard to ask friends and family for money. Basically, my problem is not with Go Fund Me. Go Fund Me takes 5 of donations and they are not tax deductible. I think I may have bit off more than I can chew. Doing an effective Go Fund Me is a lot of work. On top of that, GoFundMe profits $0.30 from every donation. I wish I had done more investigating about the Go Fund Me. According to its website, it keeps 5 percent of every donated amount to campaigns plus 2.9 percent for processing fees.
GoFundMe is making a hefty profit on those donations.
(WKRN) – GoFundMe has been the source of donations by tens of thousands of people in the past week who are giving to relief efforts related to Hurricane Harvey.Īt this point, nearly a week for many GoFundMe campaigns, the company has helped raise some $4.5 billion dollars for people and organizations affected by the storm.
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