Advertisement

Facebook drops fee on donations, will match $50M/year, adds Mentor feature

Facebook drops fee on donations, will match $50M/year, adds Mentor feature
From TechCrunch - November 29, 2017

Facebook has always been about friends, but now its seeking a broader purpose. So today, Facebook is lending a hand with what it does best: social connections, APIs, and money. At its first Facebook Social Good Forum conference in New York City, the social network just unveiled a slew of new philanthropy-minded features and initiatives.

Mark Zuckerberg started the event with a keynote saying For all the things that might try to pull people apart, if we can focus more on what brings our communities together, we can build common ground.

Facebook is eliminating its 5% fee on donations so 100% of money sent through its Donate buttons go to the desired non-profit. Previously it took 5% to pay for credit card processing and verifying the 750,000 charities on its platform, but will now nobly eat that cost. However, personal fundraisers can still incur fees from 6.9% to 8.8%.

Its setting up a $50 million per year Facebook Donations Fund to match giving on its app to causes like natural disaster relief. Facebook is expanding charitable giving tools to 13 countries in Europe plus Canada, New Zealand, and Australia.

Its launching a Fundraiser API to sync Facebook fundraisers to offsite campaigns, starting with Susan G. Komen, JDRF, National Multiple Sclerosis Society and Movember, with plans to connect to 500 non-profits by end of Spring 2018. Its new Community Help API delivers data from Facebooks crisis volunteering feature to disaster response organizations to assist them with routing resources. After signing up 4 million blood donors in India, Facebook will expand the program to Bangladesh in 2018.

Finally, its launching a new Mentorship feature through partnered non-profits starting with iMentor for education and The International Rescue Committee for crisis recovery. People over 18 in need of addiction recovery, career advancement or other personal help will be matched with vetted mentors who will guide them through an on-Facebook curriculum of education materials.

Together, the features could make Facebook a more popular way to donate money, and facilitate delivering support to everyone from disaster victims to at-risk youth.

Advertisement

Continue reading at TechCrunch »