Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

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

Relevance
  • 8 years ago
    Favorite 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.

  • 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

  • Anonymous
    8 years ago

    Using a Paypal account does not make it any more or less legitimate. It really is all on you.

  • Anonymous
    8 years ago

    idk

Still have questions? Get your answers by asking now.