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can i set up an account on paypal for fundraising?
i am looking to raise money for a new charity. can i set up a personal paypal account for people to donate into the at the end transfere it into the charitys account. so that way i would no how much i have raised?????
4 Answers
- 8 years agoFavorite Answer
Yes, you can. However, you need to give at least 10% to the charity and will need to specify that when people are actually donating money to your PayPal account.
- 8 years ago
Yes you can, but just remember that if you want to keep those funds raised, tax free you will need a letter from the Charity allowing you to fundraise for them to prove that the funds you've raised have gone to a registered Nonprofit. If not you will likely have to pay tax on the funds raised.
This is not legal advice though and you should consult someone who is a legal authority to get clarity on the subject.
What I would instead suggest is to run the fundraiser through a Crowdfunding platform that the Charity is registered with or could register with. That way you can see exactly how much you have raised, who it has come from, etc. but the funds will still go directly to the Charity.
Check out the reference in the source to find out more about Crowdfunding and where you could set up a campaign page.
Hope that is of help!
Cheers,
Rob
- Anonymous8 years ago
Using a Paypal account does not make it any more or less legitimate. It really is all on you.
- Anonymous8 years ago
idk