Comparing Crowdfunding Fees

Comparing Crowdfunding Fees

Before selecting the crowdfunding website for your nonprofit it’s important to compare processing fees, transaction fees, tips, gifting of transaction fees, and even operating costs. Here’s a break down of the three basic fees all crowdfunding sites charge you or your nonprofit.

Site Fee–This is the fee that the crowdfunding site collects to cover it’s operating costs.  This is a fee is what stays with the crowdfunding website to cover writers, designers and others that keep the site operating.

Processing Fee (Transaction fee)–This is a fee charged by the payment processing site that the fundraising website is using. Many times this will be WePay, PayPal, or Swipe. These charges are what you pay to be able to use your credit card. (all merchants that accept credit cards pay a processing fee for each transaction.

Per Donation Fee–This is usually associated with the processing fee. WePay, for instance, charges 2.9% processing fee PLUS 30¢ per donation made.  That means, if you donated $100 to a campaign, WePay would get $2.90 + 30¢ for a total of $3.20.

Calculating Crowdfunding Fees

Site Fee + Processing Fee + Per Donation Fee = TOTAL FEES CHARGED

Comparing fees can be confusing. The chart below was created by Move Your Mountain.
(not surprising since they have the lowest fees)

Crowdfunding Comparison

Move Your Mountain

We like Move Your Mountain not only because they are the most competitively priced online, but also because they share all the fees associated with your campaign upfront and offer support to help you reach your fundraising goals. MYM is a great choice for nonprofits that would benefit from extra support and fundraising help. Teespring is another good choice for those seeking an easy fundraising program.
[View Top 5 Crowdfunding Websites for Nonprofits]

Additional Crowdfunding Services

Mentors–Move Your Mountain assigns you a designated mentor when you start a campaign. This mentor  shares fundraising tips and coaches you through the entire fundraising process.

Contact Email Generating–They offer you the ability to export all your email contacts in one click. Those contacts are sent an email announcing your fundraising campaign and where how to donate online.

Social Media Sharing–Move Your Mountain also provides tools to share your campaign on all your social media channels. They also help you come up with a strategy to ensure your campaign is exposed to the highest amount of family, friends and new donors.

Press Releases–Press releases work. Move Your Mountain provides you with a free template to generate a press release. Your MYM Mentor will help you write it and distribute it to thousands of outlets.

Tips–Move Your Mountain uses their collective knowledge to provide you the latest and greatest techniques to fund raise online.

Each crowdfunding site has it’s own area of specialty (remember the two types of fundraising). Move Your Mountain is great for raising money online for for something you’re passionate about and nonprofits seeking to raise funds to accomplish their stated mission and for that reason is on of our top choices along with GoFfundMe and Teespring.

See our report below listing the top 5 crowdfunding websites for nonprofits.

fundraising-nonproift-crowdfunding

 

View Our 2015 Review
Top 5 Crowdfunding Websites for Nonprofits

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