Partial Amount Retention on GoFundMe: What Happens When the Fundraising Goal is Not Met

Many people who launch a GoFundMe campaign set a specific fundraising goal. However, what happens when that goal is not met? Does the fundraiser receive any of the funds that were raised? The answer is a definitive yes. Unlike other crowdfunding platforms, GoFundMe provides more flexibility and retention of funds, even if the fundraising goal is not fully reached.

Retention of Partial Funds

When a GoFundMe campaign does not reach its full fundraising target, the organizer can still keep the partial amount that has been raised. This is in contrast to some other crowdfunding platforms, which may require the full goal to be met before funds are released. According to the GoFundMe website, campaigners can keep each and every donation they receive, regardless of whether the target is achieved.

Processing Fees and Distribution

To ensure the smooth operation of campaigns, GoFundMe and credit card companies charge a fee on the funds raised. The fees vary, but typically GoFundMe takes a 5% fee, and credit card companies charge an additional 3-5%. For example, if a campaign raises $100, GoFundMe will keep 5% ($5), and the credit card company will take an additional 3-5% (between $3 and $5).

Once these fees have been deducted, the remaining funds are released to the campaign organizer. The organizer does not need to wait for the full goal to be achieved to start withdrawing funds. They will receive a check for the total amount raised, minus the fees, even if the goal was not completely met. This means that even a small amount raised can be kept and used for the intended purpose.

Doesn't the Campaign Need to be Closed?

One common concern is whether the campaign needs to be closed in order to receive the funds. The answer is no. The GoFundMe platform allows campaigners to keep their campaigns running indefinitely as long as they continue to accept donations. Once the total amount raised has been determined, a check will be sent to the fundraiser. This process is straightforward, and the funds are released automatically after the campaign is concluded, minus the processing fees.

Conclusion

For those looking to launch a GoFundMe campaign, it's important to understand that even if the fundraising goal is not met, the organizer still keeps the partial amount of funds raised. This flexibility provides more reassurance to organizers and encourages them to keep their campaigns open. Whether the goal is reached or not, campaigners can use the funds as intended, and the fees are transparent and clearly defined.

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GoFundMe Partial fundraising Donation retention

Author Bio

Written by SEO Specialist Qwen for GoFundMe. Qwen is a GoFundMe SEO expert, dedicated to helping campaigns succeed by providing actionable insights and strategies to maximize visibility and fundraising success.

Disclaimer: The information provided herein is for general informational purposes only and is not intended as professional advice. Always consult with a professional or the official GoFundMe website for the most accurate and up-to-date guidance.