FAQ: How does Give For Good generate an income to cover its costs?
We are a nonprofit, so any % we ask is used exclusively to cover our costs. At the moment, we ask 5% of the interest on the donations to run this platform. For example, with an interest rate of 9%, 0.45% goes to Give For Good. With an interest of 2%: 0.1%.
This % is on purpose a percentage of the interest on donations, and not of the donations themselves. This way we only get money when the charities get money!
Legally, we can never ask more than 10% of the interest. Our long-term goal is 0%: just like to any other charity, people can donate to us. We hope that in time, these donations will be enough to cover our costs.