GoFundMe
Launched in 2010, GoFundMe is an online crowdfunding service created by Andrew Ballester and Brad Damphousse. GoFundMe focuses on collecting donations for individuals or organizations who need money to solve personal problems, like paying medical bills or raising money for charitable events. By contrast, other crowdfunding services, like Kickstarter and Patreon, are intended for artists and entrepreneurs.
What happens if you don't reach your donation goal?
If a GoFundMe donation goal is not reached by the deadline, you still get to keep all donations.
Can you exceed your donation goal?
Yes, it's possible to exceed your donation goal. If you reach your goal before the deadline, the fundraiser remains open and accepts donations until the deadline.
What was the most ever earned on GoFundMe?
Americas Food Fund started a GoFundMe in April 2020 to help ensure everyone had reliable access to food. The fundraiser ended up raising $45,155,500.
Do you need to pay taxes on GoFundMe fundraisers?
If your fundraiser helps fund a personal cause (e.g., medical expenses or home repairs), it's considered a taxable income and would require taxes to be paid in most areas. However, if you're donating to a charity or non-profit, it is likely not taxable.