You may have noticed that the funds raised during the I Ride For Windell project are not going to Windell. They are going into the I Do It For Foundation. Let me explain why.
Simply put, it costs money to raise money. The I Do It For Foundation is committed to providing this platform free of charge to our Doers and making sure that 100% of the money raised goes to the Inspiration. This is important to us.
Consider GoFundMe.com, the popular fund raising site. They do a great job! They also are upfront with you that when money is processed through their site that up to 8% will be taken from the money you gave. So, let’s say you gave $1000 through the system.
($1000 x 5%) + ($1000 x 2.9%) + $.30 = $79.30
Total given to need: $920.70
$29.30 goes directly to process the transaction. Then $50 goes to GoFundMe.com to help improve their tools, pay their employees, and maintain their infrastructure. From my point of view, they do a good job.
However, there is one thing with which I take exception. The following image is a screen capture from their site.
There are no hidden fees at I Do It For. It is 100% free for our Doers and no transaction fees are charged to the donors when they give. 100% of the donations go to the Inspiration. So, let’s say you give $1000 through I Do It For
$1000 = $1000
Total given to need: $1000
While there are no hidden fees, there are real costs associated with processing the money. I Do It For Foundation covers the processing fees for every transaction. That $29.30 has to come from somewhere so the bank can be paid! We also want to continue to improve our online and promotion tools, but we don’t get that $50 from the donation coming in. By the way, there are no employees to pay as all involved in day-to-day operations are volunteers.
So, each year I find myself begging for funding to help get us through another year. To be honest, too much success could kill us. If we started having hundreds of projects running, we would struggle to cover expenses. That is why we have hesitated to promote the foundation. We need to get an “endowment” started that will allow us to move forward with confidence that we can maintain our objective of providing 100% of the donations to our Inspirations at no cost (in money at least) to our Doers.
Funny that I ended up doing this because I HATE asking for money. However, I am asking now. Please support the I Do It For Foundation. Help us move forward with confidence providing a better platform for more and more Doers to show their support for someone they love.