Facebook Fundraisers have become welcome new sources of revenue and donors for nonprofits. Since their inception in 2015, some organizations have suddenly seen donations skyrocket by thousands, or tens of thousands, of dollars a month.
Part of the reason is their tools enable giving through a 2-tap process that uses the donor’s saved credit card linked to their Facebook Account. This is a new era for fundraisers, and you absolutely should take part.
Nonprofits don’t have to sign up for Facebook fundraisers to receive money. If you meet the requirements, and someone starts a fundraiser for you, you may get a check from Network for Good out of the blue. However, Network for Good charges a fee, so it’s better to get aligned with Facebook’s program.
Here's how nonprofits get approved:
- You must be based in the U.S., Puerto Rico (or certain countries in Europe).
- You must be a 501(c)(3), have a tax ID number, have a bank account registered with a licensed bank, and be registered with the IRS.
- Your organization’s Facebook page category must be Nonprofit Organization or Charity Organization.
- The organization’s address must be listed in the About section
- You must sign up for Facebook Payments (from your admin account)
- To sign up for Facebook Payments you’ll need to provide the date of birth and address of your CEO or ED
- You’ll need to provide your bank account details including an official bank letter dated within the last three months, a SWIFT Code, and a bank IBAN number
Once you get approved, your social community can start fundraisers on your behalf, and you’ll have a Donate button your page. Let your followers know you’re taking part, and encourage them to engage by starting fundraisers. Facebook’s process prompts people two weeks before their birthday, so it’s a good idea to tell people you’re now eligible.
After a fundraiser ends, it takes about two weeks for funds to get direct deposited into your account.
Read: How do we get paid for Facebook Fundraisers?
You’ll also have access to Facebook’s transaction reports, which provides a lot of information, some of it helpful.
Read: What information do I get from Facebook transaction reports?
There are pros and cons to Facebook Fundraisers. The pro is increased donations and visibility. The cons are it can be difficult or impossible to find and thank fundraisers and donors, and it’s hard to make use of any of the data on the reports.
Managed Services for Facebook Fundraisers takes the confusion and manual labor out of making the most of social giving. We can help you engage with donors and fundraisers, increase the amount given, and gather more email addresses - sometimes even thousands more!
Want to learn more? Read or download The Ultimate Guide to Facebook Fundraisers.