GoFundMe reaches $30bn raised on crowdfunding & nonprofit giving platforms
Melanie May | 7 February 2024 | News
Since its 2010 launch, GoFundMe has generated $30 billion (£23.8 billion) through crowdfunding on its platform and through the Classy giving platform.
GoFundMe announced the news this week. The money has been raised through 150 million people around the globe giving to help others, donating an average of $68 a second since 2010. In the US alone, over a third of adults have donated via GoFundMe or Classy.
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The $30bn is broken down by GoFundMe as follows:
Commenting on the news, GoFundMe said:
“Together, we’ve reached an extraordinary milestone: $30 billion (£23.8 billion) donated by our community, for our community. Anyone who says one person cannot make a difference needs only to look at this number to see that each individual donation whether it was £5 or £50,000 adds up to incredible impact for people and charities who need us most. Looking ahead, we will continue to expand the future of fundraising.”
GoFundMe acquired Classy in 2022, with the giving platform becoming a subsidiary of GoFundMe and continuing to operate as a separate entity.
In the UK, last year saw GoFundMe become RunThrough’s official fundraising platform to help it reach its 10-year fundraising goal of a further £100 million raised for charity by participants in RunThrough events by 2033. Fundraising firm Social Sync also announced that it was integrating GoFundMe into its dashboards, with the two then running a virtual challenge – Run 25 Miles – last December with the aim of raising more than £100,000 for the Motor Neurone Disease Association in 25 days from 4,000 donors.
GoFundMe also gives back: since its founding it says it has invested more than $25 million into its community through programmes including GivesBack and Pledge 1%. In addition, GoFundMe supports its independent nonprofit partner, GoFundMe.org, which has raised and distributed more than $160 million in grants to charities and individual families facing critical needs. This has included delivering cash grants to families in and around Hawaii’s Lahaina following the fire last August within 30 hours, with over 4,200 grants sent to date.
About Melanie May
Melanie May is a journalist and copywriter specialising in writing both for and about the charity and marketing services sectors since 2001. She can be reached via thepurplepim.com.