We know that it might be tricky to decide what your goal amount should be for your fundraiser, but the good news is that you can change it at any time. Also, there is not a requirement to reach your goal, 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 keep in mind is that there will be a transaction fee (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 goal 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 less transaction fees.
But, if the fundraiser receives one additional donation of $25, Kelly will be able to withdraw $503, i.e., $525 less transaction fees. Kelly should consider setting the fundraising goal 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 keep 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 geographic location of the fundraiser.
How to edit your goal amount
You will be able to increase or decrease your goal amount at any point. Simply follow these steps from within your GoFundMe account:
- On your fundraiser dashboard, select "Edit goal" beside the amount raised, or select the "Edit" button below your fundraiser title
- Edit your goal amount, and then click "Publish changes"