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Facebook's new tool will help you raise funds for charity orgs

Engadget Engadget 1/07/2016 Mariella Moon
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It's now much easier to raise funds for your favorite causes and charity organizations on Facebook. The social network has begun rolling out a tool that'll enable you to create personal fundraisers for 501c3 nonprofits verified by the company, including The Nature Conservancy, Alzheimer's Association and Oxfam. Best thing about these campaigns is that they'll allow your friends to donate money within Facebook itself -- it won't send them to an external website.

The company's "Social Good" team, which was also behind Safety Check, designed it that way, because people are more inclined to give money directly through Facebook. They also found that people tend to be more generous if someone they know asks for help using their personal stories or photos. The company already launched a fundraising tool that organizations can use last year, but this one could compel more folks to open their wallets.

If you're wondering if Facebook gets a cut, well, it does get a tiny percentage of the total funds raised -- five percent, to be exact. Two percent goes towards the costs associated with vetting nonprofits and fraud protection, while the remaining three will go towards payment processing. Recipients will get 95 percent of whatever you raise.

At the moment, only one percent of users in US has access to the tool, and there are only 100 verified organizations. Facebook plans to make it available nationwide in the coming weeks, though, so keep an eye out if you want to help a nonprofit close to your heart.

USA Today, The Mercury News

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