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A portion of these funds will also go to the Estate of George Floyd for the benefit and care of his children and their educational fund." One week after the tragedy and only four days after the start of the fund, it had already raised $7 million, putting it in ranking as one of the most highly funded GoFundMe campaigns to date. [34]
One notable component of the expense ratio of U.S. funds is the "12b-1 fee", which represents expenses used for advertising and promotion of the fund. 12b-1 fees are paid by the fund out of mutual fund assets and are generally limited to a maximum of 1.00% per year (.75% distribution and .25% shareholder servicing) under FINRA Rules. [7]
Their default "Starter" pricing is to charge the non-profit a 5% platform fee from each donation, plus a payment processing fee (credit card fee) of 2.9% + $0.30 per donation. [11] Donors may choose whether to pay the fee in addition to the amount of their donation or to have the fee subtracted from their donation amount before being delivered.
Campaigns that reach certain donation levels receive discounts on the fee percentage that Fundly charges. Campaign donations raised from $50,001 to $500,000 are charged 4.4%, donations raised from $500,001 to $1,000,000 are charged 3.9% and every donation raised over $1,000,000 is charged 2.9% [ 5 ]
That could help replenish a fund that has spent more than $55 million on legal bills since the start of 2023 but risks running dry as a lifeline from another fundraising group comes to an end.
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A January 2023 report by the Anti-Defamation League (ADL) stated that GiveSendGo had hosted 230 fundraising campaigns tied to extremist groups and causes. The ADL described GiveSendGo as "a singularly important part of the extremist fundraising ecosystem" that enabled extremist groups to raise $5.4 million since 2016. [23] [24] [25]
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