Cats_small
Reputation: 891
Follow 0
Follow 1

Payment processing for non-profits

I remember hearing that there is a cost in processing donations so the larger the donation the better bang-for-buck. Is this still true?

I'd like to set up a monthly donation and have it be all automated as to finally stick my money where my mouth is, but I can't afford a huge monthly donation.

Should I just put the cash into a jar every month and wait till it's a big amount to donate?

internet_jen asked in Other - Finance & Legal about 1 year ago | Report

Answer this question or share it with a smart friend:

Avatar_default
Type your answer here…
Latest Greatest

2 Answers

  • Min-wage_small
    Reputation: 1421
    Follow 0

    If you're referring to credit card donations, most processors charge a monthly flat rate and take a percentage of each donation - Network for Good keeps 3% of each donation, for example.

    Another option is checking on your credit card company's website to see if they have their own nonprofit donation site - Capital One has one that supposedly covers all transaction fees, if you have a Capital One card. I think Amex also has their own site for donations, but I don't know if they do automatic monthly donations.

    If you want to avoid the fees altogether, you could set up a monthly billpay through your bank. Whatever you choose to do, donate an amount you are comfortable with and can afford. Every little bit helps!

    asteria answered in Other - Finance & Legal about 1 year ago | Report
    Comment on this answer
    Share this answer with a friend:
  • Icon_small
    Reputation: 1627
    Follow 2

    I'm sure the processing fees do favor big donations over small (that's certainly how it works for private business) but, there's a huge benefit to non-profits to be able to count on donations month after month. They can adjust their budgets accordingly and offer more services throughout the year, hopefully without running into a shortfall. If you want to give a larger amount of money each time, you might be able to set up payments on a quarterly basis. If that isn't available, I recommend just going with the monthly option.

    keshmeshi answered in Other - Finance & Legal about 1 year ago | Report
    Comment on this answer
    Share this answer with a friend: