Curious how fees are collected and calculated?
Supporters Choose How Much They Give:
When making a purchase and/or donation on Givsum, a checkbox will appear to notify you that you are currently opted-in to pay an extra amount so that the charity receives the full amount you have designated (the value of any tickets and/or donations) after transaction fees. You may uncheck this box if you do not wish to make an additional donation, and the transaction fee will be deducted from the amount you have designated. Either way, your contribution makes the Givsum platform free to use for the organization you are supporting.
How are Fees Calculated?
All transactions are subject to a 5% + $0.30 transaction fee. Here are two examples:
- If a supporter wants to make a $100 donation and remains opted-in to pay an extra amount, that nets the charity the full $100 after transaction fees. Then, the amount which will be charged to supporter will be $105.58, so that $100 will be delivered to the organization of supporter's choice ($105.58 - 5% = $100.30 - $0.30 = $100). The total potential deduction for supporter is $105.58.
- If supporter decides to opt-out of paying the extra amount, then the transaction fee will be deducted from supporter's donation of $100 and the organization will receive $94.70 ($100 - 5% = $95 - $0.30 = $94.70). The total potential deduction for supporter is $100.
Organizations May Require Fees:
In certain circumstances, organizations may need supporters to pay fees on top of a donation and/or purchase price. If an organization were to sell something at their cost, they may need their supporters to pay the required fee to ensure that they do not lose money on their efforts. In those cases, supporters will be notified at checkout that they are required by the organization to pay the transaction fee on top of the donation and/or purchase price.