Givetaxfree.org is a non-profit crowdfunding site. How does crowd fundraising work?
Well, all your queries are answered here!
The recipient’s campaign is directly connected with a secure third party credit card processing company (Stripe) that processes the donations received. Givetaxfree.org does not have access to the credit card information of people who make donations. We then send the donations to the recipient’s bank account using Wells Fargo’s DirectPay service. Both are incredibly easy to set up. Stripe can also send you a check through Online BillPay. Furthermore, the design of our platform creates an incredibly secure environment.
Do I pay taxes on the money I get?
Always check with your CPA but almost always the answer is no.
Is this a loan?
No, this is your money that is being given to you as a gift.
Does my campaign expire?
No, your campaign does not expire but if your campaign stops receiving funds for a prolonged period of time then we reserve the right to remove it from display. If this becomes necessary then we will send you an email to let you know.
What happens when I raise all of the funds I have requested?
If you have another need then you can increase the amount of money. If you are done then you can close the account but leave the comments available to be seen, or you may close the account entirely.
What can I raise money for?
There are lots of reasons but basically anything that is a need. Good examples are medical bills, housing, purchasing a car, funeral expenses, clothes, food, living expenses; the list goes on and on.
What happens if someone sets up a campaign and lies about the purpose?
We will not return the money; instead it will be given to a person in need such as a child with serious medical conditions. Don’t test us on this, we are serious. Just follow our guidelines, be honest and we will not have any problems. Capiche?
How much money can I raise?
You can raise as much money as you need.
Can I raise money for terrorists, drugs, prostitutes, gambling?
No and we will give the money to a child in need if we catch you.
How do I know when I receive a donation?
You will be notified by email and also on your campaign page.
Can I make a donation anonymously?
Who can see my campaign?
Anyone that logs onto the site. They will not know any private information about you unless you mention it in your campaign.
Can I use Givetaxfree.org to give to another 501(c)(3) Charity?
Yes, but in most cases it doesn’t make sense to do this because any 501(c)(3) can give you a tax receipt and so you should give the money directly to the other 501(c)(3). This way, they will receive all of the funds you intended to give to them and you will still receive the tax deduction.
How long does it take to withdraw money from a campaign?
Funds are available as soon as they have cleared. This could take 3 to 7 days depending on the bank.
How do I receive the money?
We have three options to send the money to you. You choose. We can send donations to your bank account using the secure services of PayPal or Wells Fargo DirectPay which is incredibly easy to set up. Or, we can send a check through Online BillPay delivered by US Mail. All available funds will be sent to you each week.
Do donors pay anything to make donations?
No. The small amount of money we keep comes out of the money they donate, but nothing extra is charged.
Does it cost anything for me to set up a campaign?
No, there are no fees or expenses for setting up a campaign. The total cost is 5.9% of every donation we receive plus .30 from each donation.
Where does the money go Givetaxfree.org keeps?
We use the money that we keep to advertise, cover expenses, pay salaries and support causes that we think are important such as Veterans, spinal cord injury, children, poor people…
What if I later change my mind and I want a refund, can I have one?
No, once you make a donation we are unable to give a refund.
Where are you located?
Our office is located at 1135 Heatherstone Dr. Suite 102, Fredericksburg, VA 22407.
Can I just send my friend a check and get a tax deduction from my friend?
You can send your friend a check but you will not get a tax deduction as tax deductions can only be provided by certain approved non-profit organizations and we are one of the approved organizations.
What if I have already set up an account with Gofundme or another crowdfunding site. Can I also set one up with you?
Yes, by all means, help yourself. You will probably want to promote our site as opposed to the others because of the low cost and tax benefits to the donor.
How much money does it save me to donate through your site as opposed to another crowdfunding site that does not have non-profit status?
That depends on your tax bracket, the higher the tax bracket, the more you are saving. By way of example, if you pay 25% federal tax rate and 10% state tax rate and you donate $100 then you will save about $35. So in reality, you could donate $135 to your friend and still be in the exact same financial position, had you donated $100 through another site like Gofundme.
Can I set up a campaign for someone else?
Yes, you sure can but they must be the one to receive the funds from the donations. In other words, you can set up the account for them, promote it for them and help them raise money but they must withdraw the money themselves or their parent or guardian.
Are you going to tell the IRS how much money I receive from donors?
Although the donations you receive are not taxable under normal circumstances, we are still required to file a statement with the IRS. This will tell them everyone who received donations over $20,000 or 200 donations. The statement is not a tax bill, it is an informational form.
Who owns Givetaxfree.org?
No individual or group owns Givetaxfree.org; it is a nonprofit entity with its own tax ID number. It is managed by a board of directors who determine how it is run.
Who is on the board of directors for Givetaxfree.org and how much do they earn?
John Berardino is the Executive Director and founder of the concept. He is paid nothing for his work.
Chris Skinner is a Board Member and he is paid $400 per month currently which equals about $1 per hour.
Elizabeth Kujawa is a Board Member and she is paid nothing for her work.
Mike Brewer is a Board Member and he is paid nothing for his work.
Don’t worry, we won’t starve, we have other jobs.
If I am in a country other than the USA and I make a donation to a campaign, do I still get a tax deduction?
We have no idea, the tax deductions we are referring to are for the USA. You can make contributions to a campaign but we do not know whether you will receive a tax benefit.
Do you have plans to offer a global service?
We do not currently have plans to expand outside of the USA.
Please confirm the payment process
Donations are processed through a secure credit card processor called Stripe. Stripe is used by thousands of businesses around the world to process their credit cards such as Adidas, Target, Kickstarter, Facebook and many others.
We do not have access to any credit card information; when someone makes a donation they are making it through Stripe and we do not have access to the data for security reasons.
We send donations to your bank account using the secure services of PayPal or Wells Fargo DirectPay which is incredibly easy to set up. We can also send you a check through Online BillPay.
Security is a top concern for us so we have partnered with the best in the business to make sure that your information is not stored on our servers and that the companies we use to accept funds and make donations are secure.