On Giving Tuesday 2016, we waived our platform fees to give back to the nonprofits using the GiveGab platform.

The only fees incurred for organizations raising funds on that day were the standard credit card processing fees of 2.2% + $0.30 for Visa, Master Card and Discover, and 3.5% + $.30 for American Express.

Because donors are able to opt-in to cover fees (on both GivingTuesday or any day of the year), we wanted to explore the actual cost for nonprofits fundraising on that day.

You can also expect a similar cost year-round if you subscribe to GiveGab’s Advance Enterprise plan.

Campaign Example #1: Hunter College

[ Hunter College – Online Gifts Only]

Amount Realized:

Intended donations: $27,229.85

Plus: Fees covered by donors: $605.70

Total Charged to donors: $27,484.91

GiveGab fees: $0

Credit Card fees: $860.76

Realized by Nonprofit: $26,369.09 | 99.04%

Effective Rate:

GiveGab fees: $0 | 0%

Credit Card fees: $860.76 | 3.16%

Total Fees: $860.76 | 3.16%

Less: Paid by donors: $605.70 | 2.22%

Cost to Nonprofit: $255.06 | 0.94%

This means it cost Hunter College less than $1 ($0.94) for every $100 they raised!

Campaign Example #2: Math Circles of Chicago

[ Math Circles of Chicago – Online Gifts Only]

Amount Realized:

Intended donations: $7,131.74

Plus: Fees covered by donors: $86.99

Total Charged to donors: $7,233.28

GiveGab fees: $0

Credit Card fees: $188.53

Realized by Nonprofit: $7,044.75 | 98.78%

Effective Rate:

GiveGab fees: $0 | 0%

Credit Card fees: $188.53 | 2.64%

Total Fees: $188.53 | 2.64%

Less: Paid by donors: $86.99 | 1.22%

Cost to Nonprofit: $101.54 | 1.42%

That means it cost Math Circles of Chicago $1.42 for every $100 they raised!

Campaign Example #3: B’nai B’rith Camp

[ B’nai B’rith Camp –  Online Gifts Only]

Amount Realized:

Intended donations: $8,126.00

Plus: Fees covered by donors: $75.94

Total Charged to donors: $8,253.47

GiveGab fees: $0

Credit Card fees: $203.41

Realized by Nonprofit: $8,050.06 | 97.50%

Effective Rate:

GiveGab fees: $0 | 0%

Credit Card fees: $203.41 | 2.50%

Total Fees: $203.41 | 2.50%

Less: Paid by donors: $75.94 | 0.93%

Cost to Nonprofit: $127.47 | 1.57%

This means it cost B’nai B’rith Camp $1.57 for every $100 they raised!

Campaign Example #4: Imerman Angels

[ Imerman Angels –  Online Gifts Only]

Amount Realized:

Intended donations: $11,231.00

Plus: Fees covered by donors: $157.09

Total Charged to donors: $11,372.91

GiveGab fees: $0

Credit Card fees: $299.00

Realized by Nonprofit: $11,073.91 | 98.60%

Effective Rate:

GiveGab fees: $0 | 0%

Credit Card fees: $299.00 | 2.66%

Total Fees: $299.00 | 2.66%

Less: Paid by donors: $157.09 | 1.40%

Cost to Nonprofit: $141.91 | 1.26%

This means it cost Imerman Angels $1.26 for every $100 they raised!

Where else can you raise funds and only pay a little over $1 to raise $100?!