The bottom line - GoFundMe is plugging a hole, and that $650 million a year people are giving to support those with healthcare needs could go to so many other worthwhile causes. This study adopts a computational approach to better understanding this consequence. Our platform is affordable to use and sell on. How to Create a Successful GoFundMe Campaign Example (US): If a donor makes a $50 donation and also chooses to leave a $5 voluntary tip to GoFundMe. How Does GoFundMe Work? (+ GoFundMe Fees & Alternatives) 1. GoFundMe helps those who need it, but don't forget about the IRS The underlying interpretations and rules regarding any Go Fund Me account can create significant tax questions and raise significant tax issues to the recipients. $48.25 is sent to the beneficiary of the fundraiser after processing and appropriate verification $1.75 is deducted by our payment partner as a transaction fee, which includes debit and credit charges (i.e., 2.9% + $0.30 per donation) GoFundMe to pay off Meghan Markle and Harry's mortgage goes bust For fundraisers on behalf of individuals or businesses in the U.S., GoFundMe charges a transaction fee of 2.9%, plus 30 cents per donation. The couple raised $50,000 through GoFundMe but at the end of the year the IRS wanted their cut. The Law Society does not set fees. Surcharges in Percentages Calculator You might not raise enough money. 6:47 AM. You can also use this before you even start the fund to estimate how much you need to aim for. Transfer amount is less than expected - GoFundMe Help Center The 5% platform fee has recently been waived in several countries such as Australia, Canada, and the United States. GoFundMe waives processing fees for charities. If a project does not reach its funding goal, no fees are collected. Dealing charges. surcharge in percentage. However, there may be particular case-specific instances where the . Pricing and Fees - GoFundMe GoFundMe states on its site: "Sites claiming to be '100% Free' will charge your donors up to 15% and you'll still need to pay 3% for processing. Help us https://www.gofundme.com/f/saveasianboss (This is our only official GoFundMe campaign link as organized by our co-founder Kei Ibaraki)#SaveAsianBoss