- Target location: Global
- Platform fee: 2.9% + $0.30 per transaction
- Model: Donation-based
- Operating from: Detroit, Michigan
- Ideal For: Charity, Social events, etc.
GoFundMe acquired CrowdRise in 2017 as a form of doubling down on fundraising for nonprofits.
CrowdRise by GoFundMe is a huge step in development for GoFundMe, as the company is growing by leaps and bounds. It is, after all, top crowdfunding site. Nonprofits can create their campaigns much more quickly and can utilize better analytics in doing so. There are also more opportunities for social media management and tools to help plan events.
CrowdRise, with its backing by GoFundme, is becoming a heavy hitter in the charity crowdfunding game.
They have worked with some seriously reputable organizations, including UNICEF, Red Cross, Ironman, Tough Mudder, and New York City Marathon. These are just a handful of the charities they’ve collaborated with. They’ve worked with over 10,000 in all.
How it works
Those who are interested in making a campaign can easily do so by making a page for the cause of choice. They simply have to describe their goals, state how they money raised will be used. And they also need to discuss the fundraising goals that they are attempting to meet. After the campaign has been set up, you can start emailing the link around to your friends and family. You can also share it through social networking.
Furthermore, you are encouraged to do “fun stuff” with your donors. You might do things that make your donors laugh or crack a smile when a goal is met. One might shave their hair and donate it to an organization that makes wigs for cancer patients.
The actual site itself is accessible and designed to be enjoyed by everybody. Their website is humorous, sunny and overall a pleasure to read and use. You can raise money for nearly anything-medical expenses, mission trips, memorial services, and more. One cool thing about their site is that they have a rewards system called CIPs (Crowdrise Impact Points). It’s for those that are successful at raising funds. You can redeem the points for fun gear like hats and tee shirts.
The funding method of Crowdrise is “Keep What You Raise.” This means that, unlike some crowdfunding sites, you don’t get this “all or nothing” approach. Some kickstarter alternatives grant you nothing if your goal is not reached. Even if you fall short of your fundraising goal. This particular platform, on the other hand, lets you keep any and all funds you raise.
The fees that you pay on this platform are just 3% to 5%. This includes your transaction and your processing fees at that. This is a big deal when it comes to the bulk of crowdfunding sites, as we have found that you pay platform fees, transaction fees, and processing fees.
One other thing to note is that there appears to be no cap to the amounts of money that can be raised. Some sites put a limit on how much can be raised, and this particular platform doesn’t do that. By not having this barrier in the way, you can enjoy a greater sense of flexibility. And this is great for businesses and busy nonprofits. Because they do not want to waste time fumbling around with campaign fund terms and conditions.
The fee structure is a little more complicated than you might think. They do charge a percentage on funds you earn. And also, a monthly fee for two of the three account varieties. This is usually NOT the norm for crowdfunding sites. These can be something of a burden on a cause that relies solely on donations to stay afloat.
You pay a processing fee of 2.9% and $.30 on top of that per transaction. The Essential account charges 5% on all funds raised. You get all core features. The Premium account description asks you to contact them for pricing; it takes a 2.4% charge on funds raised and charges 3% platform fee.
And lastly, the Enterprise does not have much info listed as of right now-you have to contact them. Some googling revealed this plan was formerly known as Royale and charged 3% on funds raised, cost $200 monthly. And you got all core features, customer support, and the ability to add a custom brand to your page. The plan currently charges 3% platform fee and 2.4% plus .30 cents payment processing fee.
Getting Your Funds
There are no deadline requirements when it comes to your CrowdRise campaign. This takes the stress out of you needing to raise money in a short period of time. A campaign deadline as we have seen on other platforms are about 30 to 60 days.
You will get your funds through WePay. This means you have to link your bank account through the FUNDS page on Crowdrise. Your funds can then be deposited directly into your bank account on every day, week or month. They take anywhere from 1-5 business days to get to your account. And that’s faster than some which can take up to a whole week.
WePay sends monies raised to charities in real time. If you opt for Network for Good, your monies would be sent to the charity on the 15th of each and every month. And that includes donations your backers had made in the prior month.
Making the Page
You can get customized and personal support from the team at CrowdRise if you pay to do so. They do help you in adding a custom brand or logo to your campaign page. You as the fundraiser are responsible for taking care of tasks associated with having a great campaign. Such asemailing fundraisers with progress or sending out rewards.