The smart way for Minnesotans to discover, support and engage with charities.
Posted on 8/16/10 by Dana Nelson, Executive Director of GiveMN
I want to get a bumper sticker that says, “I HEART US BANK!”
I couldn’t be more excited about our new partnership with US Bank - they are donating their portion of the merchant processing fees to help us secure a lower credit card transaction on GiveMN. What that means for all of us is that when you donate to a Minnesota nonprofit on GiveMN, more of your money will go towards their much needed services and less on credit card fees.
When we first approached US Bank, they were eager to partner and be able to leverage their core business expertise for the benefit of the nonprofit sector both nationally through the Razoo platform and in their home state of Minnesota on GiveMN. All of us at GiveMN and Razoo are deeply grateful for the commitment and the incredible team at US Bank who are launching this unique strategic partnership.
As you know, GiveMN has been subsidizing the credit card transaction and processing fees since our launch last November. In my blog post back in January, I shared that one of our New Year’s resolutions was to secure a low credit card rate, helping to build a sustainable business model for GiveMN which would benefit the nonprofit sector in Minnesota.
We are extremely grateful to our funders who have paid over $850,000 in fees so that 100% of donations (over $18M to date!) have gone to the nonprofit sector in Minnesota. We will continue to subsidize credit card transaction and processing fees until September 30, 2010. Beginning October 1, nonprofits will receive their donations less the low, flat fee of 2.9%.
Not only am I crazy about this incredible low rate, I am over the moon about what GiveMN has to offer - fundraising pages, project pages, the ability to connect to social media, the incredible new DonateAnywhere widget that allows people to collect donations through Razoo without leaving their website - not to mention that it is easy to use and gorgeous to look at!
I know there are a lot of ways to donate to and fundraise for charities online. I find new websites and tools every week! But I am confident that GiveMN is an amazing resource for all nonprofits in Minnesota.
How does 2.9% compare to other giving sites?
We are pleased to offer a low, simple rate on GiveMN. GiveMN’s transaction fee is now 2.9% - whether donors are giving on your site with our widget, whether they are finding you on GiveMN, or whether they are giving through other fundraising tools like personal fundraising pages. There are no monthly fees, no per transaction fees, and no one - not GiveMN, not Razoo, not USBank - makes a cent on your transaction.
To find out more about what some of the comparable online fundraising service providers offer, click on the links below.
I hope that you are as excited about this as I am - as always, we welcome questions, comments and your ideas about GiveMN.