By Vania Raebel | October 9, 2019
GoFundMe
So, what exactly is GoFundMe and how does it work? In simple terms, it is a for-profit online tool used to raise funds. The “for-profit” part means 5 percent of the donations raised on the platform go to the company directly. This is on top of a 2.9 percent payment-processing fee that is collected on every donation. 30 additional cents are deducted from each donation to remain with GoFundMe, and then the rest goes to whoever the account was created for.
The platform can be used by organizations and individuals. If you need to raise money for a particular cause, this website could be very helpful to you (just be mindful of the charges). Thanks to this platform, Chauncy and Barbara Black, along with thousands of other individuals, have been given a second chance at life.
