The company previously known as Facebook has rebranded to Meta. Meta encompasses a number of technologies, including the Facebook, Messenger, Instagram, and WhatsApp applications. How your nonprofit experiences the Facebook app will not change; the rebrand to Meta positions the company and its new parent brand to encompass all of its operations and offerings beyond social media alone.
The Facebook app still exists in the format that you're familiar with. Your nonprofit can accept donations from birthday fundraisers, one-off fundraisers, and the Donate button. And, you can host Challenges on Facebook using the platform's Groups functionality. All without charging a single transaction fee on donations -- Facebook will continue to cover the transaction cost so nonprofits don't incur that cost as they raise money on the platform. Your nonprofit shouldn't anticipate any major changes to your fundraising capabilities on the platform. In fact, GoodUnited has developed new features and functionality in 2021 to improve the Challenge Fundraiser experience on Facebook, for both the nonprofit and the supporter.
While it is understandable to have questions during a rebrand, it's helpful to remember that many companies that you and your organization know and love have undergone similar rebranding processes. For example, the Foundation Center and GuideStar became Candid, Apple Computer Company rebranded to Apple, and Google has rebranded to Alphabet. While the rebrand allows Facebook (Meta) to enter an exciting period of new possibilities, it shouldn't impact your nonprofit's experience with the platform.
Here's a good article explaining it and where you may have seen Metaverse examples.
We believe that Meta's commitment to the Metaverse will have multiple benefits for both nonprofits and supporters. The concept of Web 3.0, upon which it will be built, is decentralized, meaning it won't be hosted on a single company's server. Instead, it will be shared by all of its users so that no one person or company will own the data, making it available to nonprofits should supporters give their consent. Second, the advent of VR (Virtual Reality) and AR (Augmented Reality) will make it much easier for nonprofits to engage 1x1 existing and prospective supporters through even more compelling virtual experiences and fundraisers - think realistic, moving events featuring avatars.
The additional revenue stream Facebook fundraisers deliver has helped countless nonprofits further their mission so while, it is understandable to be concerned about uncertainties introduced by change, the question we should ask is: Are nonprofit supporters and potential supporters leaving the Facebook application? The answer is no. Facebook still boasts nearly 2 billion daily active users (DAU). As long as adoption of the platform remains high, nonprofits should continue to engage where supporters spend time - on social media. That's why none of the nonprofits GoodUnited works with have decided to opt out of the platform.
Although we believe that nonprofits should always be on the lookout for new, innovative, and reliable revenue streams, we do not currently recommend seeking a replacement for the Facebook application. Our nonprofit clients have raised tens of millions of dollars through the platform, and we anticipate helping them raise even more in the coming years. We continue to explore other social media platforms where we can deliver the same in-platform experience that supporters love. (Want to join an upcoming beta for GoodUnited x Instagram? Tell your Customer Success manager!)
According to Facebook's latest quarter result for 2020, the number of US-based monthly users declined from 256 million to 255 million. That's less than 0.4%. In February, 2021, they reported nearly 2 billion users worldwide.
More than $5 billion have been raised for both nonprofits and personal causes through fundraisers on Meta's Facebook and Instagram applications. That money has equipped nonprofits to alleviate poverty, save animals, feed families, prevent suicide, develop treatments for terminal diseases, and countless other philanthropic causes. Although some of its practices have come under scrutiny, Meta's dedication to nonprofit philanthropy is not.
Yes, GoodUnited has a 1x1 relationship with Meta and we meet regularly with the Social Good team. We continue to invest in our partnership on behalf of our nonprofit partners, advocating for their requests and surfacing concerns. When changes arise, we're able to connect with the Facebook team to understand what, if any, impact the changes will have on nonprofits fundraising with GoodUnited. With this insight, we can provide detailed updates to our nonprofit partners.
The Facebook application has an anti-money laundering policy that requires nonprofits to resubmit their nonprofit info to continue using the Facebook Giving Tools. Many nonprofits missed the five notifications that Facebook sent about this policy and as a result Facebook cut off their payments and/or giving tools. There’s now a backlog of nonprofits who have submitted their info and are awaiting Facebook to review it to regain access.