who gets the money from go fund me
GoFundMe GoFundMe allows users to create their own website to describe what they are raising money for.[2] During this process, members can describe their fundraising cause, the amount they hope to raise, and upload photos or video.[14] Once the website is created, GoFundMe allows users to share their project with people through integrated social network links (Facebook, Twitter, etc.) and email. People can then donate to a userâ€™s cause through the website using a debit card or credit card [15] and track the progress of their funding. Those who donate can also leave comments on the website in support of the project. GoFundMe generates revenue by automatically deducting a 5% fee from each donation users receive. If the user receives no donations, then no charge is made.[16] This 5% fee allowed Damphousse and Ballester to run the company without outside capital.[17] In addition to the 5% that GoFundMe deducts from each transaction, WePay collects 2.9% and $0.30 from each GoFundMe transaction.