You may remember that Facebook launched a fundraising tool back in 2016 that allowed users to create personal fundraisers for 501c3 nonprofits verified by the company. The feature allowed users and their friends to donate money to these organizations from within Facebook itself so they didn’t need to visit an external site. Facebook has since expanded the feature and has now announced that it has been used to raise over $1 billion in funds.
Facebook later allowed users to raise funds for personal needs as well. It has also removed the transaction fees for nonprofit fundraisers and also removed the platform fee for personal fundraisers. Over 20 million people have either donated or started a fundraiser on Facebook. There are now over one million nonprofits in 19 countries that can receive donations directly through Facebook. It has been very successful.
The social network has announced that over a billion dollars have been raised on Facebook for both nonprofit and personal causes. It’s now expanding the nonprofit fundraising tools to Australia and Canada.
It also announced that for Giving Tuesday on November 27th, 2018, it will be matching donations up to a total of $7 million for all U.S.-backed nonprofit fundraisers on Facebook that day with PayPal.
Source Ubergizmo
Filed Under: Technology News