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If you can’t find them online, or the details you find don’t match what they’re saying on the campaign page, be suspicious. The crowdfunding platform should tell you who the organizer is. Do they know the person or group who’ll get the money? If not, try finding out who the campaign organizer is and look them up online.
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If a friend posted, shared, or “liked” the request on social media, contact your friend offline. Find out who’s behind the crowdfunding request.It’s important to do your own research before you give because later it might be impossible to know whether a crowdfunding cause was real and if the money actually got to the intended recipient. Look up the organization in the IRS’s Tax Exempt Organization Search tool. If it’s important to you that the donation is tax deductible, confirm that the organization is registered with the IRS as a charity. Sometimes charities will set up crowdfunding campaigns. Only donations to a charity are tax deductible.Scammers and dishonest businessperson can set up crowdfunding campaigns to raise money for themselves. The organizer is expected to tell you the truth about what the money raised is for and how it will be used, but it’s up to them to deliver on that promise. In a crowdfunding campaign, the money goes to the campaign organizer, not directly to the people or the cause it’s set up to help. The money raised goes to the campaign organizer.
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Platforms have different rules on how to set up the fundraising campaign, how much the platform will keep in fees, and how and when it will disburse the money to the campaign organizer.
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There are many crowdfunding platforms, and each has its own set of rules.The campaign organizers often ask for donations in social media posts or on crowdfunding sites. Sometimes, crowdfunding campaigns have a business purpose, like raising money for a new invention or business project. Or they can set it up to help a larger group or cause, like people who’ve been through a natural disaster in a particular area. The organizer can set up the crowdfunding campaign to help specific people, like a family that lost everything in a house fire, or a veteran who needs help paying for medical bills. The campaign organizer sets the goal of the crowdfunding campaign.They’re easy to set up, and the organizers get the funds quickly. Online platforms like GoFundMe, Kickstarter, and Indiegogo let people create crowdfunding campaigns. Donating Through Other Online Fundraising PlatformsĬrowdfunding is a way to raise funds online, person-to-person.