How Does Go Fund Me Work?

[fmdog44]

I can't find a definitive answer on line. I saw recently a man whose business was looted one day then the next day the building was burned to the ground. He lost everything. Recently I read go fund me has raised over one million dollars in his name. Here is my question, when funds are raised for a cause does 100 % of the amount go to the person minus go fund me % charge? That seems like a huge waste of money, meaning if I need $100,000 and go fund me raises one million is that not a waste of effort?

 

[Warrigal]

It works something like that.

During the recent bushfires the small town of Cobargo was virtually destroyed. A Go Fund Me appeal was set up to help the residents and businesses of that town to re-establish themselves. It was so oversubscribed that there was a problem. The money raised is held in trust and can only be used for the express purpose given when it is set up. The courts now have to determine whether surplus money can be redirected to other rebuilding projects.

 

[Don M.]

GoFundMe has helped a lot of people, AND been the source of several lucrative Scams. Before donating, it is wise to do some careful research. Here are some tips.

https://www.digitaltrends.com/social-media/how-to-spot-gofundme-scams/

 

[MarciKS]

there are people abusing those just to get money to buy a car for cryin out loud.

 

[RadishRose]

Sometimes, it's just another form of e-begging.

 

[MarciKS]

i need a new car but i sure as hell ain't gonna get a go fund me going for it. that's just rude. lol!

 

[fuzzybuddy]

Wait a minute. A new car for a little e-begging? But you have to admit, this has got SCAM all over it. Supposedly: You live in North Nowherestan, and your cow died ,and you need money to get a new cow, so the 18 orphan kids, which you take care of, may have milk. Just send the cash to this Malibu, CA address. I guess you could ask all your close friends in Nowhwerestan, if that's true.
I love the concept for small loans and grants. I did visit the web site a few years ago, and it was quite obvious some of the "needy" weren't so needy. Also GoFundME offers a service. PERIOD. They are not responsible for the content on its "platform". To me, that's kind of a cop out for not policing questionable accounts. GoFundME is a multimillion dollar profitable business, and not a charity.

 

[C'est Moi]

P.T. Barnum said it best; "there's one born every minute."

 

[Ken N Tx]

P.T. Barnum said it best; "there's one born every minute."

 

[C'est Moi]

And you know what they say about a fool and his money.

 

[Ken N Tx]

And you know what they say about a fool and his money.

 

[Devi]

Here's a different experience. A person in a group I belong to was having a very hard time -- among other things, financially. He had contributed knowledge and help to others in the group over a long period of time ... maybe a decade, or more.

Someone set up a GoFundMe account for him, and we (people in the group) contributed to it, so he was not only incredibly surprised but able to get back on his feet.