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Summary
- GoFundMe is a platform where people of all income can start an individual campaign for collecting money.
- Reasons for the fundraiser could be numerous, from personal travelling, honeymoon, wedding expenses, healthcare treatments, and so on.
- Users need to sign up for a GoFundMe account, set the financial goal, write a short description explaining for what reason the money is required.
Raising money for any occasion is possible on GoFundMe, an online platform where anyone can start a campaign to crowdsource money from strangers.
GoFundMe is famous for raising thousands of dollars for those experiencing difficulties in life, mostly related to fatal medical conditions. However, many individuals have raised money for different things as well, such as travelling, weddings, pets, sports, business, family, events, etc.
The network does not charge expensive fees for the raised charity money. Instead, it allows its users to have a feeling of reassurance after the foundation expires.
Who can use GoFundMe?
GoFundMe is a platform available to all people, no matter what their income threshold is. It is widely used by individuals, families, businesses, corporations, and so on.
For example, single-parent or low-income families can raise a campaign to pay for their children’s school trips. If business prodigies do not catch an eye from investors, GoFundMe might be a good place to ask for the financial push.
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When was the site launched and how much money did it distribute?
The crowdfunding network started its operations in 2010. Within a decade, GoFundMe managed to allocate more than US$5 billion, contributing more than 50 million donors across the globe.
According to the official web page, there have been two million individual campaigns started on GoFundMe. An approximated number of 10,000 campaigns were reported to be created on a daily basis.
How does GoFundMe work?
Unlike some other fundraising websites, individuals that started the campaign can still get the money even if the goal was not met. For example, if a newlywed couple begin a fundraiser for their honeymoon and set the goal at A$10,000, they could still receive the money even if they managed to raise only A$2,000.
The mentioned system had made GoFundMe widely popular, but especially in the US where health costs are costly, so any financial help is more than welcome.
However, before setting a goal, GoFundMe users need to sign up for an account – either using their Facebook account or via an email address.
Once the account is created, users need to inform how much money they want to raise, choose the fundraiser occasion, and write a short description about why they need money.
GoFundMe provides tips for the caption, as donors value honesty and transparency. The more information there is, the more likely it is to raise a higher sum.
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How much does GoFundMe charge per donation?
Compared to some other crowd raising platforms, GoFundMe does not charge the user for joining the forum. It is also the cheapest online fundraising provider in the market.
Individual campaigns need to pay US$0.3 per donation, as well as a 2.9 per cent processor fee.
When it comes to charitable events, they need to pay the same amount per donation, but a 7.9 per cent transaction processor fee.
