Crowdfunding: What to Know Before you Donate

By: Chelsea Beimfohr April 14, 2016

Crowdfunding is a quick and easy way to raise money for any cause. Here are three things that you need to consider before you make a donation.

  1. Pick An Organization:

Crowdfunding websites exist for just about anything–education, medical bills, school tuition. Browse the      internet and decide where you want to donate your money. Here is a list of popular crowdfunding websites:

Go Fund Me

Kick Starter

Donor’s Choose

Adopt A Classroom

Indiegogo

Crowdfunder

     2. Do Your Research:

Do you know the person or organization that you are donating to? If not, find out how your donation will be cashed out. Some crowdfunding websites like GoFundMe.com send checks directly to those who have made requests. Other sites like DonorsChoose.com vet the requests and send materials directly to teachers.

     3. Fees:

Once you’ve figured out where your money will end up, look out for hidden administration or payment fees. Donor’s Choose covers its administrative costs through an optional 15 percent donation from donors. Whereas Kickstarter and Go Fund Me both automatically deduct a 5 percent fee from each donation made.

 

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