About GoFundMe & How It Works:

GoFundMe is a popular online platform that allows people and organizations to raise money for various purposes, including personal needs, business investment, charitable initiatives, and more.

Whether it’s medical expenses, education, disaster relief, or community projects, GoFundMe provides an easy way for anyone to create a fundraising campaign.

How it works:

1. Create a Campaign: Users can start by creating a campaign page, and sharing their story, goal amount, and reason for fundraising.
2. Share the Campaign: Once the campaign is live, users can share it via social media, email, or other social media accounts to reach a wide audience.
3. Receive Donations: Supporters donate to the campaign using secure payment methods like Visa cards, Master cards, credit cards, or PayPal.
4. Withdraw Funds: Campaign organizers can withdraw the funds directly to their bank accounts at any time.

GoFundMe applies a small transaction fee for each donation to cover processing costs.

This fee varies depending on the type of campaign and the country in which the fundraiser is held.

GoFundMe Fee Calculator:

The GoFundMe Fee Calculator is designed to help campaign organizers estimate the transaction fees they will be charged when they receive donations.

This calculator considers factors like the fundraising type (certified charity or individual/business), country-specific flat fees, and the total amount raised to give an accurate calculation.

How it works:

• Fundraising Type: If you’re raising funds for a certified charity, the transaction fee is 2.2% of the total donation plus a $0.30 fixed fee per donor.
  • For individual or business campaigns, the fee is 2.9% of the donation plus the same $0.30 per donor.
• Country-Specific Flat Fees: Each country has a set flat fee. For example, in the US, it’s 2.9% + $0.30 per donation.
  • The calculator adjusts for countries like the UK, where the flat fee is 2.9% + £0.25.

Example: Let’s say you are running a personal fundraiser in the United States and have raised $1,000 from 50 donors:

• Percentage Fee (2.9%): $1,000 × 2.9% = $29.00
• Flat Fee ($0.30 per donor): 50 donors × $0.30 = $15.00
• Total Fees: $29.00 + $15.00 = $44.00
• Amount You Receive: $1,000 – $44.00 = $956.00

The calculator breaks down the transaction fee and shows the total amount you will receive after fees.

This will help you to plan and set fundraising goals more accurately.

How Much Does GoFundMe take on a $100 Donation?

The amount GoFundMe takes on a $100 donation depends on the fundraising type and location. Here’s a breakdown:

For Individual/Business Campaigns:

• Fee: 2.9% + $0.30 per donation
• Example for a $100 donation:
  • Percentage fee: 2.9% of $100 = $2.90
  • Fixed fee: $0.30
  • Total fee: $2.90 + $0.30 = $3.20
  • The amount you receive: $100 – $3.20 = $96.80

For Certified Charity Campaigns:

• Fee: 2.2% + $0.30 per donation
• Example for a $100 donation:
  • Percentage fee: 2.2% of $100 = $2.20
  • Fixed fee: $0.30
  • Total fee: $2.20 + $0.30 = $2.50
  • The amount the charity receives: $100 – $2.50 = $97.50

So, for a $100 donation, GoFundMe takes either $3.20 (for individual/business campaigns) or $2.50 (for charity campaigns).

Which countries qualify for GoFundMe?

GoFundMe supports campaigns in several countries where organizers can create fundraisers and receive donations.

Here’s a list of countries that qualify for GoFundMe (as of recent updates September 2024):

Do you get GoFundMe money if you don’t reach your goal?

Yes, with GoFundMe, you receive the money even if you don’t reach your fundraising goal.

You can edit your goal at any time. This means that regardless of whether you reach your goal or not, you can still withdraw the funds raised at any time.

Key points:

• No fundraising deadline: You can keep your campaign active for as long as needed.
• No penalties: You won’t be penalized for not reaching your goal.
• Funds available: The money donated to your GoFundMe campaign is available to you as soon as the donations are processed, even if your campaign is still ongoing.

Similar Calculators:

• Venmo Fee Calculator
• Reverb Fee Calculator
• Whatnot Fee Calculator

FAQs:

How much does GoFundMe charge?

For individual campaigns, GoFundMe charges a 2.9% processing fee plus $0.30 per donation. Certified charity campaigns have a 2.2% fee plus $0.30 per donation.

How quickly can I access the funds?

Funds are typically available within 2-5 business days after a donation is processed.

Can people from other countries donate to my campaign?

Yes, anyone from around the world can donate, as long as they use a supported payment method.

Is there a deadline to complete a GoFundMe campaign?

No, GoFundMe has no deadlines, and your campaign can stay active as long as you need.

What payment methods does GoFundMe accept?

GoFundMe accepts the following payment methods for donations:

1. Credit and Debit Cards: Most major credit and debit cards, including Visa, MasterCard, American Express, and Discover.
2. Apple Pay: Available on supported devices for quick and secure payments.
3. Google Pay: Used by donors with Android devices for fast and easy transactions.
4. PayPal: In some regions, GoFundMe accepts PayPal for donations.