With the all-important year-end fundraising season now upon us, Facebook has a Christmas gift for nonprofits.
The social media giant announced last week that it has eliminated transaction fees on donations made to nonprofit organizations through its platform. The company will continue to impose fees on campaigns established by individuals, however, including a processing fee of 6.9 percent, plus 30 cents per donation.
Facebook will no longer be charging nonprofits a 5-percent transaction fee on donations made through its website or mobile app.
This change will immediately help ministries improve their net income on social media campaigns and raise even more money for their good work.
Many Masterworks clients are already experiencing strong ROI and engagement on their social campaigns — both acquisition and cultivation. We’re excited to expand our testing of Facebook’s inherent fundraising tools in our efforts.
Facebook CEO Mark Zuckerberg also said the company is launching a software program, called Fundraisers API, that will allow users to sync their Facebook campaigns with other fundraising pages.
We’ll definitely keep you posted on how that works.
If you’re thinking about expanding your fundraising strategy on social media channels, these announcements will only improve your chances of success.
And that’s a nice Christmas gift!