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To: fatnotlazy

Wiki says:

“GoFundMe generates revenue by automatically deducting an 8% fee from each donation users receive. If the user receives no donations, then no charge is made.”

Couldn’t find any reference to an audit process. How does one know that all processed donations are included in the published tally?

So it appears that one’s donation goes directly to gofundme who then takes 8% and then passes the rest at some future unspecified time to donation receipient.

Nice racket they got 8% plus the float.


49 posted on 05/03/2015 12:03:57 PM PDT by Covenantor ("Men are ruled...by liars who refuse them news, and by fools wnho cannot govern." Chesterton)
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To: Covenantor
Thanks for the correction. 8% instead ofv5%.

Allegedly, the net amount after GoFundMe deducts its fee goes to whoever started the page. In this case I understand the page was created by the FOP. It would be up to the FOP to dispense the money properly.

I can understand that the site wants to make some money on its site. That's the essence of capitalism — provide goods and services and make a profit. One would hope that some part of the profit goes back into maintaining the website.

But in a charitable endeavor, I prefer that all of my donation will go to the person or entity that needs it. Which is why I mail a check directly.

66 posted on 05/03/2015 3:37:40 PM PDT by fatnotlazy
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