GoFundMe one of the most popular crowdfunding platforms in the UK has announced they will be expanding their platform to allow crowdfunding for non-profit organisations.
Last week GoFundMe released their charity fundraising page, which specifically details how people can start a campaign without penalties for missing goals. The company has slightly changed the rules for in favour of charities, they will receive 100% of Gift Aid and they’ve dropped it’s 5% platform fee so there are no subscription fees.
John Coventry, Head of UK Communications at GoFundMe, was quoted: “We were shocked to discover that some platforms take a slice from Gift Aid they claim on behalf of charities, and the research we’re releasing today shows that we’re not the only ones shocked. Generous British donors can be absolutely sure that 100% of the Gift Aid generated through campaigns they run on GoFundMe will go to charity, end of story. With GoFundMe charity fundraisers there is a 1.9% processing fee and donors are asked if they want to leave GoFundMe a voluntary tip, and that’s it. If you raise £500 for your favourite charity on GoFundMe that charity will get £615.30 including 100% of the Gift Aid.”
This is promising news for the charity sector, they now have more ways to raise money and awareness with modern technologies. In recent research conducted by YouGov, 72% of people thought it was unfair for platforms to take a cut of Gift Aid claimed for charities on eligible donations. 34% of people asked were more likely to donate online if the campaign was more clear about how much of the money actually goes to charity. With GoFundMe you keep every donation you receive, and there are no deadlines or goal requirements which makes it stress-free for many charities that join the platform.