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How Much Does GoFundMe Take for Funeral?

Losing a loved one is emotionally burdening and it is more so when it comes to funerals. Recently, crowdfunding platforms such as GoFundMe have been providing hope to families who are in need of support with burial expenses. Understanding the costs involved in using these platforms is imperative for effective fundraising. Then how much does GoFundMe take for a funeral? Let’s go into details.

When creating your GoFundMe campaign for funeral expenses, it is important that you remember two types of charges: platform fees and payment processing fees.

Platform fees include payments charged by GoFundMe for utilizing their site on which you will set up your funding drive. The current platform fee charged by GoFundMe is 2.9% plus $0.30 per donation made at this point in time. These costs cater to all the necessary functions concerned with the running of the platform like customer support services, web maintenance practices and security measures too.

For instance, if an individual donates $1000 towards your campaign on GoFundMe aimed at covering funeral costs, GoFundMe takes away $29.30 as a platform fee ($1,000 * 2.9% + $0.30). This implies that out of the total $1,000 given as donation; you receive only $970.70 after deducting the cost incurred by hosting through this website on behalf of someone else in terms of platform fee.

Apart from the platform fee, GoFundMe makes use of external payment processors in order to carry out secure transactions. For its payment processor in the US, GoFundMe usually employs Stripe. With a per transaction charge of 2.2% of the donation sum and $0.30, Stripe charges some sum.

To illustrate, if one had given $1,000 through GoFundMe, Stripe would have charged him/her $22.30 ($1,000 * 2.2% + $0.30) as a processing fee on that amount. This means when combined with the initial payment system fee, a total levy worth deducting from this particular contribution comes to $51.60 ($29.30 platform fee + $22.30 payment processing fee).

After subtracting all these charges, you will be left with only$948.40 out of your initial donation of $1,000 thus making it important to consider these fees when setting up your fundraising goal or contacting potential contributors In view of this information quantifying how much will go to fees and not towards their cause can assist donors’ confidence levels.

There are several things you’ll want to do when trying to maximize your funeral expenses for your loved ones through using Go Fund Me:

  • Set realist fundraising goals: The entire cost incurred in connection with the burial should be factored in while coming up with an amount that is both achievable and transparent; including costs associated with cremation services and transport among others which necessitate setting a clear attainable target and will encourage more people to make donations towards it.
  • Share your experience: Tell in detail about life of the person you loved, how he/she passed away and what makes you need financial help. When a campaign is backed up by personalization and heartrending expressions, it evokes emotions among donors and they may consider parting with their money.
  • Use social media and personal contacts: Advertise your GoFundMe campaign on social networks such as Facebook, Twitter, Instagram, Snapchat, using your email address book and talking to people. These can include family members or friends who might want to offer their support for the cause.
  • Express Appreciation: You could show appreciation to them by sending personally written thank you messages or thanking them right at the page of your GoFundMe account. Saying thanks can be used to connect with others so that they would continue assisting.

Despite the complexity of dealing with GoFundMe fees remember that this platform remains a valuable resource for needy families. Understanding costs and being able to fundraising effectively can take some burden off from funeral expenses thus allowing more attention towards commemoration of dear ones lost.

Therefore, GoFundMe charges platform fees and payment processing fees for hosting fundraising campaigns for funeral costs.