As of July 1st two important changes have been made to GiveMN that will impact your online fundraising efforts.
First, donors now have the opportunity to pay the processing fees associated with their gift. In the past, donors have asked, “I want to make sure $100 goes to my organization of choice. How much do I have to donate to make that happen?” Now, when donors make an online contribution to your SWIF-held fund through GiveMN.org, they will see an option that looks like this:
The second change is regarding the fee itself. GiveMN has increased its processing fee from 4.9 percent to 6.9 percent. In the past, processing fees have been used to cover credit card, technology and administration fees for the online giving platform. The additional 2 percent will be used to help to cover GiveMN’s general operations (up until now, these costs have largely been covered by grants from foundations across Minnesota).
SWIF will continue to cover the processing fees associated with online gifts to your fund. And, we will also continue to seek ways to make online giving as convenient, efficient and affordable as possible.
So why is online giving so important? While traditional giving through major gifts, fundraising events and mail campaigns continue to make up the lion’s share of gifts to non-profits, online giving continues to grow. In fact, online giving to non-profits increased by 9.2 percent from 2014-2015, with an associated 13 percent increase in the number of gifts. This means that not only is more money coming in online…but more people are going online to give!
