GoFundMe Launches Zero-Fee Donor-Advised Fund Service With Tax-Free Investment Growth
Summary
GoFundMe launches Giving Funds, a revolutionary zero-fee donor-advised fund service that lets users invest charitable money tax-free through Goldman Sachs partnerships while sending 100% of donations directly to nonprofits with no minimum balance requirements.
Key Points
- GoFundMe launches Giving Funds, a new donor-advised fund service that allows users to set aside money for charitable giving, invest it to grow tax-free, and donate to nonprofits whenever they choose
- The service offers zero administrative fees, no minimum balance requirements, and provides a single tax receipt for all donations made throughout the year
- Funds are securely managed through partnerships with Goldman Sachs for banking services and investment options from BlackRock and Vanguard, with 100% of donations going directly to chosen nonprofits