Posting a project and running your fundraising campaign on ioby is a great way to support your idea for neighborhood projects and initiatives. For this, we charge $35 that goes to cover the materials and labor that goes into supporting your project on our platform. For projects with budgets under $1,000, we waive this fee.
ioby makes it easy to collect tax-deductible donations on and off line. Individuals, businesses and grantmaking grantors (institutions) can make a charitable contributions donation to your campaign and receive an IRS recognized receipt of your tax-deductible donation acknowledgement receipt.
To power donation processing, there is a 3% fee. When we process credit card donations, this fee is passed along to our third party credit card processor. When we accept donations made by check, this fee covers our internal processing. This fee can not be waived, is 3% of your budget's subtotal, and is retained at disbursement.
Finally, all projects fundraising on ioby need to have a fiscal sponsor or have 501(c)3 status. Projects that would like to use ioby as a fiscal sponsor may elect to do so. The fee for this service is 5% of your budget's subtotal.
We strive to keep our fees as low as possible, but they are an essential part of how we are able to offer our services to individuals and groups around the country. And, ioby is currently one of the lowest-cost options around.
Did you find this article helpful?