By now it's clear that Facebook users have wholeheartedly embraced birthday fundraisers. There were early concerns that users would get burned out on peer-to-peer giving, but that's not what's happening. People like being able to give a little bit, easily, on a consistent basis. It creates goodwill between friends when they support each other, and it can inject a little bit of meaning into an otherwise normal day. Facebook fundraisers are not going away.
Still, the social media platform is battling rumors and bad press and is working hard to ingratiate itself with users as it reinvents. Recently they announced they'll be kicking in $5 to every new birthday fundraiser. There is a catch and, for nonprofits, it's an important one:
You Must Sign Up for Facebook Payments
To qualify for the $5 boost, the fundraiser must be for a vetted US nonprofit approved to raise money on Facebook. That means you must have registered your organization with Facebook payments.
It's For a Limited Time
The $5 comes from Facebook Donations Fund, created to help nonprofits raise more money. They won't be kicking in money forever, though they haven't said when the program will end.
The Bottom Line
The bottom line for nonprofits is that the extra $5 will inspire more people to create fundraisers than ever before. The extra $5 will add up for nonprofits, which is important considering how much it costs organizations to earn each dollar.
If you haven't signed up for Facebook fundraisers by registering for Facebook payments, you're likely leaving money on the table. You don't need to register to receive funds, but any donations raised for you will take months to reach you - and when they do they'll be missing a percentage held back for administrative fees.
To qualify for the $5 boost, the fundraiser must be for a vetted US nonprofit approved to raise money on Facebook. That means you must have registered your organization with Facebook payments.
Read: Don't Fight Facebook Fundraisers
Read: How do we get paid for Facebook Fundraisers?
Read: The benefits of using Facebook Payments vs. Network for Good