We’ve seen the GoFundMe campaigns shared thousands of times on social media. Some accounts have collected thousands of dollars within hours.
But does all of the money collected through the fundraising site go directly to the person or cause of your choice?
We set out to verify some of your questions:
While there's not an initial fee to create a GoFundMe campaign, there are fees that come later and are deducted from each donation received. GoFundMe takes out a 5 percent fee from each donation and a 3 percent processing fee. In total, about 8 percent of fees are taken out of each donation through the fundraising site.
The IRS could also take a cut from the funds raised depending on whether the donation is considered income or a gift. So for that you may have to check with a tax expert.