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Choosing your fundraising target

We know that it can be tricky to decide what your fundraiser target should be, but the good news is that you can change it at any time. Also, you don't have to reach your target and you will still be able to withdraw all funds raised.

The following is an example of a fundraiser in the US. For pricing in your location, check here.

One important thing to bear in mind is that there will be transaction fees (2.9% + $0.30 per donation) applied to the funds. These fees include debit and credit charges and help to ensure your funds are processed securely. To account for these fees, we suggest making your fundraising target slightly higher than the actual amount that you need. 

Example:

Kelly needs exactly $500 to pay for her dog’s vet bill. If Kelly’s fundraiser receives 20 verified donations of $25 each, then Kelly will be able to withdraw $479.50, i.e. $500 minus transaction fees.

But if the fundraiser receives one additional donation of $25, Kelly will be able to withdraw $503, i.e. $525 minus transaction fees. Kelly should consider setting the fundraising target at $525 to account for the applicable transaction fees.

 

Raised $500,

20 donations

Raised $525,

21 donations

Total amount raised x 2.9%

$14.50

$15.23

Total number of donations x $0.30

$6.00

$6.30

Total transaction fees

$20.50

$21.53

Total funds received 

$479.50

$503.47

Please bear in mind that this is just one hypothetical example of a US fundraiser. Transaction fees will vary  based on the number of donors and average donation amount and geographical location of the fundraiser.

How to edit your target amount

You can increase or decrease your target amount at any point. Simply follow these steps from within your GoFundMe account:

  1. Click "Your fundraisers" at the top of the page 
  2. Find the fundraiser you want to view and click "Manage"
  3. Choose the "Edit and Settings" button under your fundraiser title. (On your mobile device, simply select "Edit" at the bottom of your screen)
  4. Change your target amount in the "overview" tab, then click "save" at the bottom
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