You may be aware of the crowdfunding concept and probably have donated to a fundraiser or cause through various apps and websites aimed at helping someone to achieve a financial goal. But have you examined these platforms more closely, to determine which you should consider using when it comes to fundraising for your next class trip?
Here are some platforms—and details—to keep in mind.
Founded in 2000 by a high school teacher in the Bronx, DonorsChoose.org empowers schoolteachers from across the country to request much-needed materials and experiences for their students.
Details: Sign-up is free. Projects can remain on the site for up to four months and over 70 percent of projects reach their fundraising goal during that time—but if a project doesn’t, donors can redirect their contributions to support your next project. When donors contribute, an optional 15 percent allocation toward DonorsChoose.org’s overhead, teacher outreach, maintenance and build-out of the website is presented.
Fundly’s free app makes it easy to start a campaign, thank new donors, send emails and post blog-like updates for those who are following your classroom’s fundraising journey.
Details: Once your fundraising campaign is live, Fundly will send emails to help direct you through the first few weeks of your project. You’ll also get emails and push notifications when something new happens. There is no minimum amount to raise to keep your funds. Payments are processed quickly and usually may be withdrawn 24 to 48 hours of when the donation was made. Fundly charges users a 4.9 percent fee in addition to the 3 percent charged by their payment processor.
The definitive name in online crowdfunding platforms, GoFundMe is the most commonly known and shared site for fundraising campaigns.
Details: Sign-up is free. GoFundMe charges a standard 2.9 percent processing fee plus $0.30 per donation for credit card processing. Once your GoFundMe campaign starts receiving online donations, you can request a withdrawal at any time. There are no time limits or deadlines for how long your campaign may remain active—and reaching your goal amount is not required for fund collection.
FundMyTravel makes it easy to budget for your trip, incentivize donors to contribute and even request offline support.
Details: Donations are automatically sent to your account, so there’s no waiting to hit your full projected campaign goal. You can use your FundMyTravel page to track your offline support. Creating an account is free. FundMyTravel takes 5 percent of all donations to keep the site running and to be able to provide technical and customer support. Payment processors may charge their own fees.
Written by Sarah Suydam, Staff Writer for Teach & Travel.
This article originally appeared in Teach & Travel.