How Much Does GoFundMe Take From Your Fundraising Campaign

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GoFundMe takes a significant portion of the funds raised through their platform, but just how much is it? According to GoFundMe's own terms, they charge a 2.9% payment processing fee on all donations.

This fee is in addition to a payment processing fee of 0.30% on donations, which is waived for campaigns with less than $5,000. For example, if you raise $10,000 through GoFundMe, you'll be left with $9,700 after fees.

GoFundMe also takes a payment processing fee on all donations, which can add up quickly.

Check this out: How Does a Gofundme Work

What is a Transaction Fee?

A transaction fee is automatically deducted from each donation on GoFundMe.

This fee helps GoFundMe provide more ways to donate, including through credit, debit, PayPal, Apple Pay, or Google Pay.

The transaction fee covers the costs of credit and debit charges, which is a necessary expense for GoFundMe to operate.

It also helps safely deliver donations, ensuring that the funds reach the intended recipient.

GoFundMe only charges one transaction fee, which is automatically subtracted from each donation.

This fee is essential to cover all of your fundraising requirements, making it a necessary part of the donation process.

The transaction fee is not optional, it's automatically deducted from each donation.

Worth a look: Gofundme News

GoFundMe Fees and Pricing

Credit: youtube.com, How Much Does GOFUNDME Take?

GoFundMe only charges one transaction fee, which is a percentage of the donation amount plus a small fixed fee. This fee is approximately 2.9% + $0.30 per donation, and it's automatically deducted from each donation.

For single donations, donors can leave an optional contribution to help GoFundMe remain free for people who start a fundraiser. However, if donors choose to make a recurring donation, they pay a fee of 5% per donation to help make this feature possible for the community.

It's free to start and manage your fundraiser on GoFundMe, but the transaction fee is still applicable. The fee is the same for donations made in different countries, with the numbers varying slightly depending on the country.

Fees and Pricing

GoFundMe only charges one transaction fee, which is automatically deducted from each donation.

This fee is approximately 2.9% + $0.30, although the exact amount may vary depending on the country.

There's no need to worry about paying a separate bill, as the transaction fee is taken care of for you.

Credit: youtube.com, GoFundMe Charity - Pricing deep dive

You can find more information about GoFundMe's charges on their Pricing Page.

Here are the specific fees you can expect to pay:

It's worth noting that if donors choose to make a recurring donation, they pay a fee of 5% per donation, to help make this feature possible for the GoFundMe community.

Setup Cost

Setting up a GoFundMe fundraiser is free in the US. There's no fee to start or manage your fundraiser.

To create a donation page on GoFundMe, you'll need a phone number, an email address, and a compelling story and/or photos explaining why you're fundraising. This will help attract donors and make your fundraiser more successful.

In the US, GoFundMe doesn't charge a fee to start or manage your fundraiser.

How Much Does GoFundMe Take?

GoFundMe takes a small transaction fee per donation, which covers all your fundraising needs. Everything else goes directly to your cause.

The transaction fee is approximately 2.9% of the donation amount, plus a flat fee of $0.30. This fee is automatically deducted from each donation.

Credit: youtube.com, How Much Does GofundMe Charge Per Donation

For example, if a campaign raised $1,000 through 10 donations of $100 each, GoFundMe would collect about $32 in fees. You can calculate GoFundMe fees using their online calculator.

GoFundMe charges a lower fee of 2.9% + $0.30 for single donations, but a higher fee of 5% for recurring donations. This is to help make the recurring donation feature possible for their community.

It's worth noting that GoFundMe no longer charges a platform fee, so it's free for people to start a campaign. However, they do ask donors to leave a tip after making a donation.

Transaction Fee Details

GoFundMe's transaction fee is automatically deducted from each donation, covering the costs of credit and debit charges and safely delivering donations.

The transaction fee is a one-time charge, not a recurring fee, which helps GoFundMe offer more ways to donate, such as through credit, debit, PayPal, Apple Pay, or Google Pay.

You never have to worry about paying a bill because the transaction fee of approximately 2.9% + $0.30 is automatically deducted from each donation.

Credit: youtube.com, How much does GoFundMe charge for $100 donation?

This fee structure is the same across all GoFundMe campaigns, so you can rely on it to understand your fundraising costs.

To give you a better idea, GoFundMe's transaction fee is the only fee deducted for someone starting a fundraiser on the platform, helping power all your fundraising needs.

The transaction fee is calculated based on the country where the donation is made, with the 2.9% + $0.30 fee being the standard rate.

Payment and Withdrawal

GoFundMe works with leading payment processors like PayPal to ensure secure and safe fundraising.

They automatically deduct a transaction fee from each donation, which covers the costs of credit and debit charges, safely delivering donations, and helps offer more ways to donate.

This fee is the only one deducted on GoFundMe to cover all your fundraising needs.

GoFundMe accepts and delivers donations through various payment methods, including credit, debit, PayPal, Apple Pay, and Google Pay.

The transaction fee is deducted from each donation, so you won't need to worry about paying it separately.

To accept donations, GoFundMe collaborates with reputable payment processors, ensuring a safe and secure experience for both you and your donors.

The transaction fee covers the costs of processing credit and debit charges, which is an added benefit of using GoFundMe.

Is This Cool? Are There Alternatives?

Credit: youtube.com, GoFundMe Alternatives: Top 10 Platforms To Raise Money

Gofundme's fee structure has been a topic of discussion, but it's not the only game in town. In fact, there are alternative crowdfunding and crowdsourcing platforms that use a similar model with lower fees.

Kickstarter, for example, has an optional tip feature during checkout, allowing backers to add a tip to their pledge to support the platform.

Indiegogo also offers an optional "tip" feature, where backers can choose to contribute to cover the platform's operational expenses.

Patreon, known for supporting content creators, has a similar optional tip feature, allowing patrons to tip the platform in addition to their regular support.

Buy Me a Coffee and Ko-fi, both platforms for supporting creators, also offer optional tips for the platform.

If you're looking for alternatives to GoFundMe, here are a few options to consider:

Fees and Recipient

GoFundMe only charges one transaction fee, which is automatically deducted from each donation. This fee is approximately 2.9% of the donation amount, plus $0.30.

The transaction fee is deducted from each donation, so the amount your recipient receives will be lower than the original donation. For example, if someone donates $100, GoFundMe would keep around $2.90 plus $0.30, leaving your recipient with $96.80.

Frequently Asked Questions

Do you get taxed on GoFundMe?

Donations to personal GoFundMe fundraisers are generally not considered taxable income in the US. However, tax implications may vary depending on the specific circumstances of the donation.

What percent of GoFundMe goes to recipients?

GoFundMe takes 7.9% from each donation, leaving 92.1% for recipients. The actual amount received by recipients may vary slightly due to the additional 30-cent processing fee per donation.

What happens to the money from GoFundMe?

After bank verification, funds are sent automatically, with individual donations taking 1-14 business days to process. Your transfer will include all available donations, sent in a single payment

How much does GoFundMe charge to withdraw?

GoFundMe charges a 2.9% + $0.30 transaction fee on donations, leaving the recipient with 97.1% of the original amount. This fee is deducted when withdrawing funds, so you'll receive 97.1% of your donation.

Do you keep all money raised on GoFundMe?

No, GoFundMe deducts a 5% fee from each donation, so you won't receive the full amount raised. You'll still get to keep 95% of the funds, but you'll need to review our fees and terms for more details.

Krystal Bogisich

Lead Writer

Krystal Bogisich is a seasoned writer with a passion for crafting informative and engaging content. With a keen eye for detail and a knack for storytelling, she has established herself as a versatile writer capable of tackling a wide range of topics. Her expertise spans multiple industries, including finance, where she has developed a particular interest in actuarial careers.

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