Making Donations Easier: GoFundMe's New Tool for Givers

GoFundMe is introducing a new way to make donations. It's called a Giving Fund. This is not a new idea, but GoFundMe is trying to make it easier for regular people to use. Donor-advised funds, or DAFs, have been around for a while. They are like a savings account for charity. You can put money in and get a tax break right away. But you don't have to give the money to charity right away. This can be good for people who want to plan their donations. But it can also be bad because some people never give the money to charity. GoFundMe's Giving Fund is different. It has no minimum balance. There are no fees to manage it. You can start donating with just $5. You can also invest your donations in different funds. This way, your money can grow before you give it to charity. GoFundMe wants to make donating easier. They want people to think about giving more often. They want to help people manage their donations like a portfolio. This means they can track their donations and see how much they have given. But there are already many DAFs out there. Some people think DAFs are not good because they let people keep their money too long. Others think they are good because they make donating easier. GoFundMe's Giving Fund is trying to make donating even easier. But it will be hard to stand out in a crowded market. GoFundMe is hoping that their new tool will help more people give to charity. They want to make it easier for people to donate to causes they care about. But only time will tell if their new tool will make a difference.