GoFundMe: Crowdfunding for Personal Events
Crowdfunding to raise small amounts of money from a large number of contributors to launch a new product or business, to fund micro loans to people in developing nations and to fund large public events has been around awhile. Now there is a crowdfunding website devoted to personal events - GoFundMe.
People post their event or activity in the hope of receiving numerous small contributions. Unlike other crowdfunding sites, the person listing the event receives whatever she/he earns, even if it falls short of their goal.
The most popular and easily funded events are missions trips and requests for funds to help a person, especially a child, suffering from a life-threatening illness to take a trip, modify their home, or help with expenses. The least popular events, and therefore least likely to meet their funding goal, are self-serving personal events, such as weddings or a personal birthday bash.
One of the major drawbacks of the site is the inability to determine whether a request is for a legitimate need or has been posted by someone simply trying to gain money. Therefore, should you decide to help fund an event, do your homework. Google the name of the person seeking the funds; check newspaper articles in the city where the person lives and otherwise be certain you really are funding a need and not lining someone's pockets. And if you aren't sure, don't pledge more than you can afford to lose. And be aware that a portion of your contribution will go towards GoFundMe's administrative costs.
People post their event or activity in the hope of receiving numerous small contributions. Unlike other crowdfunding sites, the person listing the event receives whatever she/he earns, even if it falls short of their goal.
The most popular and easily funded events are missions trips and requests for funds to help a person, especially a child, suffering from a life-threatening illness to take a trip, modify their home, or help with expenses. The least popular events, and therefore least likely to meet their funding goal, are self-serving personal events, such as weddings or a personal birthday bash.
One of the major drawbacks of the site is the inability to determine whether a request is for a legitimate need or has been posted by someone simply trying to gain money. Therefore, should you decide to help fund an event, do your homework. Google the name of the person seeking the funds; check newspaper articles in the city where the person lives and otherwise be certain you really are funding a need and not lining someone's pockets. And if you aren't sure, don't pledge more than you can afford to lose. And be aware that a portion of your contribution will go towards GoFundMe's administrative costs.
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