How Does Crowdfunding Work?

how does crowdfunding work

There are a lot of pros and equally as many cons to living in the digital age. Cons are things like online trolls, bad reviews on your business, or anonymous messages that make you feel bad. But pros outweigh the cons by a long shot. There is fun videos that make you feel nice, entertaining memes that you can share with your friends. And if you are trying to put together a project, or if you need a little help finishing one, there’s Crowdfunding.

If you are not sure what Crowdfunding is, don’t worry. I am going to teach you all about it in this article. Stick around until the end and you’ll know everything you need to know about this fantastic way of connecting people and making projects together.

How Crowdfunding Works in a Nutshell:

To start things off, crowdfunding is a way for people or companies to complete projects by involving the public. Imagine you are putting together a big time movie, but you only have enough money to rent the cameras. You still need a set, actors, and people who are going to be a part of the crew. You can use this method of funding to bring everyone else into it. It’s like a donation of sorts, but for big projects.

You get to support the cause and get your name in the credits, and someone else gets to have their goal reached so whatever they were trying to save up for can be finished, made, or bought.

A lot of different online influencers use this method to fund their big projects, giving out small rewards to those who choose to give money to the cause. You could get a hat, a t shirt, or you could get a copy of the movie they are making.

Know Which Type of Funding You Want.

There are a couple of different types of funding you can choose from. You have to be specific about what you are raising this money for, so that people know exactly where this cash is going and they can decide for themselves if it’s worth giving money to.

1. Investment Funding

The first is investment funding. This means that when people decide to give money to your cause, they become part owner of whatever you are making or selling. They will get a percentage back from whatever profit you make off of this project.

2. Loan-Based Funding

The next is a loan based funding. This is something that you give back once your project is done and you are starting to make money off of it. This is a safe way to handle things if you are sure that what you are making is going to be successful.

3. Donating-Based Funding

Then you have strictly donation based. This means that people put money into it, and they expect nothing in return. They are simply putting their money in because they believe in you and what you are making. You do not have to give them anything in return, you just take the donation and add it to the funds of your project.

4. Reward Funding

Finally, you have reward funding. This is when you have perks that people can get when they fund your project. You can go to a bulk seller and have hats or shirts made, posters or signed postcards, or you can give them the product you are making once it’s finished and ready for the public.

Once you figure out which kind of funding you want to do, you start going through the settings. Select how much you need to raise for this dream to become a reality, put in how much you have saved up so far so people know that you are working towards the final goal as well, type in what the money will be used for exactly (actors, cameras, set prices, etc), and anything else that is relevant like the story behind this idea and why people should consider investing their money into this.

Beware Crowdfunding’s Downfalls:

crowdfunding downfalls

There are some downfalls and risks that you should also be aware of before you start up your campaign.

It might be hard to get backers, try introducing the project to a few people to see how they react and find out if they would be willing to help you start it up. You need to know how the public is going to react to this idea before you invest money into it.

If you have invested money into a project like this, it might be hard to get your money back, especially if you are an investor. You are talking a big risk putting money into something that doesn’t have a solid foundation yet. Most of the time, projects don’t reach their end goal. That doesn’t mean the project was abandoned, it just means that you have to put more money into it and it will take longer to pick up off the ground.

Even if your project does lift off the ground, you still aren’t in the clear. You still have to make money off of the project beyond the funding. The funding is just there to pay for the expenses of creating the product, you are in charge of pushing it out to people for them to buy and consume.

As long as you are prepared for these risks, you are prepared for anything. Find a team of supporters, and a group of people who are willing to help you on this project, and get to work on your campaign. There are millions of people out there who are willing to help people make their dreams come true, you just have to give them something to believe in.

Best Kickstarter Videos

most successful kickstarter campaigns

Kickstarter Videos That Stood Out.

On May 22nd, 2019, Kickstarter made a YouTube video of their best crowdfunded successful campaigns. In the video was a list of ten projects which grossed from $ 6.4 million and up in their bidding campaign for money to proceed. Here are some of the campaigns that were outstandingly successful:

1. Reading Rainbow

reading rainbow successful kickstarters

This is a subscription based online library of interactive children’s literature. The materials were made from the Levar Burton’s show – Reading Rainbow, a children’s educational show – that were made digital. He bid for $ 1 million in his first month in 2016 of the campaign where he got $ 6.4 million. The money was used to make Skybrary. After its launch, Burton offered subscriptions of the interactive literature at $ 179 for a class holding 35 students, or $ 1450 per school for up to 450 students. The same money raise from the campaign was used to gift up to 10 000 classrooms in need. Mr. Burtons foresight of gifting classes in need helped propel the campaign to his favor.

View Their Page Here: Kickstarter.com

https://www.youtube.com/watch?v=v_x6QCWfCTw

2. The Pebble Watch

This is a smart watch project which attracted $ 10 million of crowdfunding in 2012 with the help of 69,000 backers with a bid of $ 100,000 in its first Kickstarter campaign. The generous funding proved its need by customers. In 2015, Pebble launched its second campaign and collected $1 million in the first 49 minutes of its launch. A week later, it collected $13.3 million making it the most funded campaign in Kickstarters history. Between both its campaigns, it racked more than $ 43 million. After a few years, Pebble Watch was not making its sales goal. Searching desperately for a bailout, it closed its stores and the company Fit Bid bought them at $ 23 million in 2016. The Success of Pebble Watch lied on people’s need of a device more unique than a cell phone but equally versatile.

https://www.youtube.com/watch?v=adJZmPYa9hQ

3. Kingdom Death

This is a board game started by Adam Poots. The idea sparked in his mind seating for jury duty to create Kingdom Death. After a trial in making an App for I-tunes failed in 2010, his idea kept nudging. He simplified the game play for Bits of Board in the making of Kingdom Death. He used $ 10,000 of his money with an addition of $1700 from Kickstarter to make the game. When His first iteration of Kingdom Death earned him $2 million, through word of mouth and announcement of the sequel in 2016, the game earned $12.4 from 19,264 backers. Poots spurned off different games making his board game franchise to be one of the most profitable. The success of this game was propelled through word of mouth.

https://www.youtube.com/watch?v=x86rAwv0H1A

4. Baubax

This is a travel utility jacket by Hiral Sanghavi and his wife. After their Kickstarter campaign, they managed to collect $9.2 million on Kickstarter and $2.3 in Idiegogo, making it a crowdfunding successful campaign in history. Even amidst copycat designs, Baubax holds itself as an outstanding brand of clothing line and remains to be a multi-million-dollar clothing company. The success of this clothing line lies in its uniqueness and design.

https://www.youtube.com/watch?v=S6SmUGiOb2M

5. Exploding Kittens

This is a card game modeled after the success of the game ‘Cards Against Humanity.’ Online comic artist Elan lee and Matthew Inman used their fun base to score one of the biggest crowdfunding projects in history. Their goal of $ 10,000 was reached in 10 minutes and in the next week gained 103,382 backers, and easily the most in Kickstarter history. After one month, they had twice as many backers at $8.78 million. The project fulfilled its orders and created a series extension packs. Exploding kittens remains the bestselling game. Both comedians successful campaigns to their fun base who remained loyal favored its success and flourishing.

https://www.youtube.com/watch?v=OtREUajBwIQ

6. Ouya

This is a game console that reached its Kickstarter goal in eight hours. They were able to support their pre-orders at selling the console at $99 by raising $8.5 million through Kickstarter and released the console. This console was inexpensive and compatible with android devices unlike other major gaming console. Being outcompeted by other major gaming consoles, they sold their intellectual idea and hardware assets to hardware gaming company Razor. Ouya accessories are still available but the technology has been phased out completely. The success of this device was favored by the price which was competitive to other major gaming consoles like X-box.


7. Peak Design

This is a simple sleek monochrome backpack that was featured in Kickstarter in 2011. In a few months, 26,000 backers pledged $6.56 million for this peak design backpack. Even though each unit runs at $200, the back pack was preferred for its comfort, durability, and protection of stored items.

Crowdfunding for Non-Profits: Everything You Need To Know

non-profits crowdfunding

A non-profit is defined as an organization that exists to take donations, providing a service for their constituents, or people who use that nonprofit. You have to file to start a nonprofit at a state and federal level, while at the same time defining and implementing policies and procedures that your nonprofit needs to design in order to make success happen. Nonprofits hold a tax-exempt status in the eyes of the IRS. It is necessary to consult a local attorney or an accountant who understands what a nonprofit does in your state. You need to know about how charitable organizations are formed within your state’s legal structure.

Each state has a specific method of incubating your nonprofit idea in a way that is practical for fundraising and less expensive. There are at least five steps that require making a decision for your nonprofit idea. The very first step in starting a nonprofit using crowdfunding is to research what your community needs in a nonprofit. There are 1 million nonprofits in operation in the United States that are considered charitable organizations that struggle to attract funding.

Council of NonProfits.org

Nonprofits are bound by specific rules that they cannot make a profit off of their services, which is why it is called a not-for-profit organization. There are potential risks with different ways of making money if you do not know the rules surrounding how to raise money. Indiegogo and GoFundMe help raise money by allowing a non-profit to broaden their support system since an organization can operate in one city and receive their funds from another city in another state precisely because of their fundraising objective.

Thirty-nine states and the District of Columbia have various laws governing charitable solicitation, which is technical jargon for a gift a nonprofit receives that is going to be used by that nonprofit for charitable purposes, such as getting the homeless toiletries. Some states do require a nonprofit to register their intent to get charitable solicitations in that state. As an example, California does not require registration until the funds or property are received, while thereby the nonprofit must register within 30 days of receiving charitable assets that will be used to further the goals of the nonprofit.

Failure to register a nonprofit could lead to civil and criminal punishments that vary across states, with potential penalties including state fines. The nonprofit has to then return all solicited funds. Crowdfunding platforms such as Donately offer a solution for a nonprofit to launch specifically tailored-to-their-needs campaigns. Donately offers a stress-free way to start a campaign. Donately has created a simple way to launch a crowdfunding campaign. Donately offers fundraising tools to accept gifts online, letting your team process donations from any location you see fit. Donately takes a 3% fee from the first $100,000 and they also have a credit card processing fee of 2.9% + $0.30 for each donation made. The ACH processing fee is 0.8% with a cap of $5.00. ACH refers to an electronic payment from an originating institution.

The rules for using online fundraising platforms for non-profits are determined by the solicitation requirements present in each state. The Charleston Principles mean that a nonprofit has to be registered for online charitable solicitations while the nonprofit solicits donations through what is called an “interactive website” such as GoFundMe. Nonprofits have to follow up with their donors through email or a paper letter that verifies the tax-deductible donation because of targeting a resident of that state, which would make the registration requirement fall into place.

GoFundMe For NonProfits

GoFundMe for nonprofits gives nonprofits the option to raise money for specific campaigns, while also given that they sell tickets and also collect registration for events. Nonprofits want fundraising tools that match the branding they have put together, Paypal also has a donate button option. A nonprofit called March for Our Lives raised $3,531, 110 on April 12th, 2018, after the Stoneman Douglas High School Shooting by Cameron Kasky for a march, the funds going to the victims of the shooting. Nonprofits are governed by many rules that a founder of a nonprofit has to learn in order to make sure that the nonprofit is being adequately funded. However, GoFundMe may take a large chunk of fundraising profits from organizations it is raising money for. GoFundMe is effective as a fundraising tool however because it defines the very idea of fundraising being able to raise more money online than through other, snail mail derived methods of fundraising. Raising the money necessary for a nonprofit has become easier these days with the Internet but nonprofits need to be aware of the rules in each state that governs having a nonprofit status acknowledged by the State the nonprofit is started in. Fundraising for a nonprofit is governed by many rules as it is a tax deduction.

How Much Does Go Fund Me Charge in Fees?

gofundme fees

What is GoFundMe?


GoFundMe is an online source that makes it incredibly easy for people to raise money for various situations. This is one of the most worldwide crowdfunding sites. These accounts are usually made to help with costs of emergency situations, web accounts that collect donations and simple fundraisers. As opposed to creating your own fundraiser, with advertising and website hosting costs eating into the money you raise (even with a working voucher), GoFundMe offers a free platform that handles payments for you. But is it completely free?

It is a short process to set up the entire account. And, the website also allows for a great number of aspects personalization to be changed for your own personalization. This fundraising tool is very popular and it has been around for quite a while, the success rates are very high.

What to know before starting a Go Fund Me account?


You should know that GoFundMe has helped users raise over 5 billion dollars throughout the lifespan of this platform. So before you start your campaign, understand that there are millions of success stories associated with this company and you too can be one of them.
The website also has an app for iPhones that can be downloaded and it offers 24/7 customer service and support for both users and donors. There is a 0% platform fee, which means that everything is completely free to start your GoFundMe account and your actual campaign.
The website is practically simple enough to start your campaign, personalize it and share it with your audience all within a few short minutes.

GoFundMe’s Fees Are As Follows:

GoFundMe has a 0% platform fee, which means that it’s completely free to start a page. However, there is a credit card processing fee of $0.30 that is charged for every donation. This fee is accompanied by another deduction of 2.9%, a standard transaction with the sole purpose to ensure the safe transfer of the donors’ of funds.


As stated before, if you are starting your campaign and you are accepting any of the following: US Dollars, British pounds, or Canadian dollars then that 0% platform fee still applies to you. There are certain European countries that are free as well as others that have fees. There is a list that can be found on the website for other countries of the world, so you should definitely check into that if you plan on using any other forms of currency.

What payment methods are accepted?


GoFundMe accepts a wide variety of payment methods for donations. It basically depends on your location in the world, whether or not the company accepts certain processors. Here are a few of the most commonly used payment processors. GoFundMe accepts Visa, Mastercard, Discover, American Express, Sofort (which is for German donors), GiroPay (which is for German donors) and, iDeal ( which is popular with Dutch donors.)
PayPal Accounts are also accepted but it is wise to do research if you are located outside of the United States.

How to receive your funds?


GoFundMe sends the money directly to you, which is one of the features people love the most. The platform does not restrict any donors, any amount of donation is accepted. This is absolutely one of the best sites to partner with and utilize for your fundraising needs.

Is GofundMe right for me?


GoFundMe happens to be the perfect platform for collection donations thorough online transactions for both personal reasons and crowdfunding. Because the platform does not charge excessive fees to users, the majority of them collected funds from various donors that are completely 100% profitable for the actual charitable cause. This makes it much easier for goals to be reached by reducing the amount that would otherwise be deducted for fees on other platforms.
So Gofundme me is definitely the perfect website to utilize in the event that you would like to start a campaign. The most beautiful factor is that people are really able to get the help that they are seeking. It doesn’t matter whether the cause is a memorial service, raising money for pets or even college funds, there are no limitations.
GoFundMe is strictly donation-based so the platform makes it simple and easy to be able to ask for whatever it is that you are requiring help. Your only job is to fill out the forms and complete your campaign and then you are able to share it with your audience, your friends and your family. Social media networks are very useful in these cases, that allows people everywhere to donate to you. It is completely fine if you have ever experienced hardship, just remember that tough times don’t last. You may absolutely be surprised by the number of people who are willing to help out in the time of need.
GoFundMe offers a guarantee that proves that they are trustworthy and safe and that the team is working to meet all of your needs while ensuring both donors and receivers are properly protected.

Does Kickstarter Charge Any Fees?

does kickstarter charge any fees

All The Hidden Fees Associated with Starting a Kickstarter Campaign Explained.

You may be thinking of starting a KickStarter campaign. But before you start, it’s important to look at all the fine print associated with raising money. If you hit your target fundraising goal, do you get to keep all of it? You may want to make your target higher if there are fees involved. We try to go over all the hidden costs associated with a crowdfunding campaign.

Are There any Fees?

Kickstarter does charge a 5% fee after you successfully start your Kickstarter account and campaign. Once funds start flowing in, Kickstarter will apply a 5% fee which will then be applicable to all of the donations that are collected. There is also an additional processing fee for the company’s payment processor–which is Stripe. That can range from 3 to 5%. However, if a project does not reach is complete goal amount, there will be no fees deducted from anyone.

What is Kickstarter?


Kickstarter is the platform that is frequently used for crowdfunding. It funds creative projects ranging from gaming systems to filing, art, dance, music, design, and technology. Imaginative ideas and creators that are supported by others, this platform where a clear intended goal is published and it is made clear that a project will eventually be completed by the creator’s pledge.

What Should I Expect?


Kickstarter promotes an all-or-nothing funding policy which basically means that that absolutely no one will be charged any amount for any pledges unless that specific project reaches is actual funding goal. This makes it easier for creators to depend on the budget they already had set out, also adding a sense of urgency to motivate and persuade your community to help spread the word and rally behind that project. This all-or-nothing funding is very beneficial surpassed their crowdfunding goals with Kickstarter.

The platform currently supports and provides assistance to users ranging in languages from English to German, Japanese, French and even Spanish. The platform is currently aiming to expand to have a wider reach so it is able to help different users but they are currently opting out for the use of Google Translate to assist with any language barriers. This goes to show how flexible and caring the platform really. The company is very upfront about everything and they even have a thorough selection of frequently asked questions to assist with anything that you cannot find in writing and other areas of the website.

Tips For A Successful Kickstarter Campaign:

Offering great incentives on many different levels can make or break your campaign. The types of rewards of course will vary depend on what you’re fundraising for. It include a free copy of your product, or even collector’s edition versions.

Give Out Coupon Codes To Your Customers:

If you’re pulling your hair out trying to find freebies to give to your customers, maybe you can give them coupons. They cost nothing, and it saves them money.

And it doesn’t have to be coupons for your own products and services. If there’s something related, you could partner with them. If it’s a movie, for example, you could give a coupon code for Atom Tickets, for example. Or if your product is entrepreneurial in nature, you could give out a 0.99 linux plan coupon for a web hosting plan (web hosting is a huge expense for entrepreneurs!).

Embed Your Campaign on Your Blog:

If you have a website with any kind of audience, then you can expose them to your Kickstarter quite easily by embedding your campaign on the sidebar of your website. Copy the iframe code on your campaign’s page and add it to a widget on your WordPress website.

Are There any Refunds?

Kickstarter does not issue refunds because the company clearly states that transactions are only between the backers and the creators. Kickstarter never really has control of the funds at all in fact, the moment when the project is successfully funded, is the same exact time that the money is transferred from the donors’ card to the creator’s payment account. So it is up to the creator to issue a refund which is allowed through their payment of accounts whether its Amazon payments or like PayPal payment.

Is Kickstarter For Me?


Kickstarter does not guarantee projects because it is a very open platform dedicated to providing a wider range of opportunities for creators. Because, they are lenient on their projects that are allowed they are also more strict on pledges and creators that do not complete their work. Incomplete work, or breaking a pledge’s the promise is one of the reasons that the platform actually does not deduct any amount of money from your account until that creator has absolutely reached their goal. The company does actually do a quick review to ensure that the creator and project are in alignment with company policies. However, Kickstarter does not fully complete any investigations to figure out whether or not that specific creator able is personally able to complete the projects or not. It is completely up to the backers to decide what projects they do decide on what creations they would like to fund.
Creators are basically legally obligated to fulfill their promises of completion of their project. It states this in Kickstarter’s terms of use that creator is absolutely required to fulfill all of the rewards of their project or they must refund any backer whose reward they did not fulfill. This term and condition is displayed and shown to the creators before they launch their projects. This term was created to create legality for creators to be able to fund a project on this platform. This makes it easier for creators and backers in various ways. It is more so a motivational standpoint but it’s also providing elements of ambition, pushing creators harder towards their goals.
So this is one of the reasons that Kickstarter does not absolutely guarantee any projects. But, it does offer the guaranteed refund of money based on the kids have the conditions that are provided to creators when they start their projects Kickstarter has been working to increase results in approval accountability and fulfillment. They are starting to require all creators to provide an estimated delivery date for their creations. Which has really been beneficial towards reaching higher completion rates. This helps creators to develop a sense of time management, promoting consistency and accountability as well.

How Much Does IndieGoGo Charge?

Indiegogo fees and charges

An Overview of Indiegogo’s Fees and Charges.

Indiegogo is an amazing platform that is used to promote fundraising campaigns. This is a great option for anyone that is looking to raise money for personal, community, business and for many other reasons. Indiegogo helps to get information out to investors so they are aware of your fundraiser and they even help you to collect the money that you raise. Indiegogo is available to use through most countries around the world. Funds can even be sent from one country to another however, the fees carry from location to location. This article will help you to access any and all charges that may be included.

IndieGoGo’s Standard Fees:

If you started your fundraising campaign at Indiegogo they will charge you a five percent platform charge on any funds that are received for your fundraising campaign. Since there is a set percentage that is charged, it is impossible to say exactly what the cost will be in the end. The charge is calculated and deducted from all of the money that you raise, not from the goal that you set when you set up your campaign.

If You’re Switching Your Fundraiser To IndieGoGo From Another Platform:

On the other hand, if you began your campaign on a different fundraising platform like GoFundMe before you switch over to Indiegogo, then you will be charged an eight percent fee on any money that you raise during your designated time frame. There is also a possibility for other percentage costs if you and Indiegogo have made other arrangements prior to starting your crowdfunding campaign. The payment processors will also charge you a processing fee that is set according to your location and your home country’s currency.

Fees That Your Campaign’s Supporters Should Know About:

It important for each of your campaign’s donators to read the fine print and to be aware that they will also be charged a transaction fee every time they make a donation towards your campaign. Transaction fees are dependent on the location of their bank account and also dependent on the currency in which the funds are raised. They might also be charged a processing fee by their credit card company if their credit card is not from a local area. All transfer and bank charges will be applied every time funds are withdrawn or added to your bank account.

Additional Fees For International Transactions, Currencies, Etc.

The personal banks of both the campaign manager and the donators, will most likely charge additional funds for currency conversions, wire transfers and possibly other items as well. It is best to contact your personal bank in order to ask the questions about what will happen on their end. The reason for this is that every bank is different and has different policies. Differences also occur according to your location of town, city, state, country. You may also find that the charges vary depending on what type of bank account you have, whether it is a personal, business or other accounts.

If you begin a campaign that is a Fixed Funding campaign and you do not meet your designated goal, everyone that donated will receive their donations back in their bank accounts within five days after the campaign ends.

In the event that your goal is to raise money entirely from United States currency, the raised funds will arrive to you from Stripe. Stripe is the credit card processor that is utilized by Indiegogo, for all of their crowdfunding accounts. Stripe creates and account for your campaign and that is where all of your funds will sit until your campaign ends. After the campaigns end date, your funds will arrive in your bank account with in fifteen days after the end. If your campaign is not completely run thru the United States, then there are other rules that will apply. In order to receive your funds from Stripe, you will need to be verified on Stripe before they will release your funds to you. This was a rule that was set in place in order to make sure that the money that has been raised is being sent to the correct person and bank account. This is just in order to protect your money that you have raised through your fundraising campaign. Once the funds have been dispersed by Stripe they will arrive into your designated bank account within two to five business days. After that time frame, you should see the funds arrive in your account as being sent by Stripe rather that Indiegogo. These funds will be sent to your checking account not your savings account, as savings accounts do not support receiving funds from outside sources..

In the case you are creating this fundraising campaign for a nonprofit you will be charged the same amounts that you would be charged for every other type of campaign. You will be charged the normal 5 percent platform fee, plus the three percent for the Stripe credit card processing fee in addition to any fees that your bank is going to charge to your account.

How To Set Up a Go Fund Me Page: Our Ultimate Guide

gofundme fees

Our Step-By-Step Guide For Setting up a Go Fund Me Page.

Many people have put their inventive ideas on hold due to the lack of financial resources. Thanks to crowdfunding platforms such as GoFundMe, your creativity doesn’t have to be placed on hold. Crowdfunding allows many people over the net to fund your projects whether big or small. You can think of it more like sourcing a crowd of people in request for a financial donation to support your cause but via the internet.

Unlike many crowdfunding platforms, GoFundMe does not necessarily reward its donators. Some platforms offer a reward in exchange for generous donations. GoFundMe does not. Users of the platform can choose to offer a reward to donators, however, that is not common. Generous people that often give to GoFundMe campaigns typically do so based on wanting to support a great cause. Why start a GoFundMe campaign anyway?

Reasons To Start A GoFundMe Campaign

GoFundMe isn’t just for those who have the entrepreneurial spirit. In fact, you don’t have to be business-minded at all to start a campaign. You don’t even have to want or need donations for yourself personally. You can start a campaign to help support a need of a friend. Below is a list of reasons people have started GoFundMe campaigns. The list doesn’t stop here.

Reasons

  • Transportation For The Employed – Years ago someone started a GoFundMe for an older gentleman that got up at five in the morning to ride his bike to work. He had been following his routine for many years before someone started him a GoFundMe.
  • Raise Money To Feed The Homeless
  • Help With Surgery Expense
  • Help A City Or Town Recover From A Natural Disaster
  • Memorial Funding
  • Start A Local Business

GoFundMe Tutorial

So you’ve heard enough about GoFundMe and now your ready to sign up and start your first campaign. Follow the simple tutorial outlined here. When you get to the official website you should see a green button that says Start a GoFundMe.

Account Sign Up:

how to start a GoFundMe fundraiser

The First Steps To Setting Up Your GoFundMe Page:

  • Click Start a GoFundMe button
  • Sign up using Facebook account or Email address
  • Enter Full Name, Email Twice and a Password
  • Enter Campaign Title, Fundraising For Who?, Your Zip Code, Campaign Category and Fundraising Amount
  • Select Individual if you plan to promote alone
  • Add Cover Photo and YouTube Video
  • On the next page you will explain why your fundraising
  • Click Start Sharing green button to get your GoFundMe link
  • Click Next
  • Click Manage Fundraiser – You will be taken to your campaign. From there you can click view to see what donors would view on your campaign.

Withdrawal Process

Withdrawing to your bank account is simple. After creating your campaign you need to click withdraw. You will see the withdraw link in the Manage GoFundMe section. Click the green button that says Set Up Withdrawals. You will receive a verification link to your email. After verifying through the email you will need to verify through text also. You want to set up Withdrawals within the first thirty days to avoid confusion.

You will need to enter the last four digits of your social security number into GoFundMe for verification. You also need to input your bank name, account number and routing number to receive your funds. You can sign up for a free account with American Express Blue Bird or MyVanilla to receive direct deposit if you don’t already have a bank account. Both card types are reloadable in stores that participate. Withdrawals from your campaign normally take between 2 to 5 days to complete.

Fees

It’s important for you to check for GoFundMe updates. GoFundMe rarely but does update their terms and fees. To start a campaign is free. The fees would include a 2.9% transaction fee and a 0.30% per donation fee.

Fundraising Approach

Starting a campaign does not guarantee you donations. You can start sharing your link on social media sites like Facebook, YouTube and Instagram. You can also promote your campaign on your blog or pay to promote it on a blog source that receives a lot of daily traffic. Always encourage people to share your link whether they plan to donate or not.

Start Your First Campaign

I know by now you should see the value in starting a GoFundMe campaign. It’s a powerful way to bring thousands of people together to support a common cause. Always play fair when signing up to start your campaign. Never seek to take advantage of good people that work for their hard-earned money. If you think someone can benefit from this information be sure to share this post on your social media accounts.