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Company or partnership withdrawals

This article is for those who intend to withdraw the funds directly to a company’s bank account. If you intend to withdraw the funds to a personal bank account, please check out this article for more information. These directions will also not apply to you if you created a certified charity fundraiser.

Agent

Hi, I'm Matt. Just a heads up, the person who sets up withdrawals for an organization must be a financial administrator for the business.

This would be someone who is authorized to handle funds on behalf of the organization, such as a treasurer, vice president, or owner. You can add this person as the beneficiary by selecting “someone else” for “who will withdraw the funds?” in the withdrawal flow.

If you’re raising funds for a business, but you aren’t associated with them, you’ll need to withdraw the funds to your personal bank account, then send them to the business outside of GoFundMe.

 

 

How to set up withdrawals for your organization

Step 1:  Select “Withdraw” on your fundraiser dashboard

If you don’t see the option to withdraw (shown below), you are likely a team member, or have a certified charity fundraiser and are not in charge of the withdrawals. 

CompPartWD_en-us.png

 

Step 2: Confirm your email

If you haven’t already done so, you will need to confirm your email. Click here if you are not receiving the verification email. 

Step 3: Verify your phone number

If you haven’t already done so,  you’ll be prompted to verify your phone number. This is an important security feature called Multi-Factor Authentication and it’s just one of the ways we are protecting your information. 

In some circumstances, it may also allow us to send you important reminders about your account, such as a reminder that your withdrawals have not been successfully set up so donations may be returned to donors.

Note: Enter the 5-digit code contained within the message, and not the 6-digit number the code is sent from. 

If you are having trouble verifying your phone number, please check out this article. 

Step 4: Select withdrawal type

This section asks whose bank account will receive the funds.  Let’s take a look at those options below:

If withdrawals are going to:

Then select: 

Then select:

Who will withdraw the funds?

What type of entity withdrawal is right for you?”

An organization’s bank account that you manage

Note: You must be a financial administrator of the organization’s banking information 

Myself 

Company or Partnership (you can select either)

An organization’s bank account that someone else you know manages

Someone Else**

Company or Partnership

 

**When someone other than the organizer is going to be responsible for withdrawing, we call them a beneficiary. They will be responsible for the withdrawal steps 5 - 7. Before you select this option, consider if this person: 

  • Meets the requirements to withdraw on behalf of the company (they are a beneficial owner or financial administrator)
  • Is ready to take this on. While changing the beneficiary is an option, it requires consent from both you and  the original beneficiary. 

You can learn more about the beneficiary process here.

Step 5 - 7  will be completed by the beneficial owner or financial administrator of the account the money is going into.  If you have added a beneficiary, they will complete these steps.

Once you select “company or partnership” you will be brought to our payment partner’s portal, where you can complete the remaining steps. It might look a bit different than the GoFundMe page you were on before, but don’t worry, you’re in the right spot. Please review this article if you are withdrawing to a club, trust account, or unincorporated organization.

Step 5. Add your company information

You will be required to enter the following information:

  • Legal name of the business as it appears on government forms
    • Please make sure to double check this information, because the system automatically adds your campaign link as your business name
  • DBA (Doing Business As) name of the business, if applicable
  • Tax ID or applicable company number connected to the business (see below for details)
  • Business phone number and email address
  • Business address

Step 6. Add your organization's bank information

You will be required to enter the following information:

  • Account number or IBAN (European accounts)
  • Routing number (US) or Branch code (European accounts)

Step 7. Add your personal information

Add the personal information for two people (an owner/controller and a signatory).
The following titles are considered an "owner/controller:"
  • Chief Executive Officer
  • Chief Financial Officer
  • Chief Operating Officer
  • Chief Information Officer
  • Chief Strategy Officer
  • President
  • Vice President
  • Executive President
  • Managing Member
  • General Partner
  • Managing Partner
  • Partner
  • Treasurer
  • Director
Signatories are any natural persons that are authorized to act on behalf of or represent the organization.
*If you are an owner/controller within your organization, you can also enter your own information separately as a 'signatory.' However, if you are solely a signatory, you will need to provide the information for an owner/controller at your organization in order for our payment partner to verify your organizational withdrawals.

Even though the funds are going to an organization’s bank account, you will be required to enter the following information to verify that you are authorized to withdraw on the organization’s behalf:

  • Full first and last name (ensure that this name matches your identification)
  • Home address
  • Phone number
  • Birth date
  • The last four digits of your SSN (US only)

Once these sections are complete and verified, they will show up in green as "finished". If one does not show as "finished" but you have submitted the information, additional documents may need to be uploaded. Please check in on sections that say "incomplete", and review the next steps.

Potential Step 8. Upload documents for verification

Occasionally, our payment processor will need extra information to verify your organization after you’ve set up your withdrawals. When this happens you will receive an email titled "Important Message from GoFundMe", and withdrawals will be paused until the necessary documents are uploaded and verified. 

You can submit the requested information via this form.

Documents that may be required include, but are not limited to:

  • Government-issued ID for the beneficial owner
  • Copy of the organization’s governmental registration, showing:
    • US - EIN or SSN for a sole proprietorship
    • UK/IE - Company number or roll number for a school
    • AU - Australian business number (AU)
    • IT - Codice fiscale
    • FR - SIRET number
    • ES - Número de Identificación Fiscal
    • DE - Handelsregisternummer
    • NL - Kamer van Koophandel (KvK)
    • Articles of incorporation, articles of association, certificate of incorporation; must show the organization’s registration number:
    • IRS 501(c) (3) determination letter (only applicable to US non-profit organizations) 
  • Bank statement for the organization, showing:
    • Bank logo or bank letterhead (must be issued by the bank)
    • Organization's name as the account holder
    • Bank account number entered in your GoFundMe account
    • Date shows it is less than 3 months old
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