Venice, CA, Oct. 19, 2022 (GLOBE NEWSWIRE) — Pledge, the all-in-one fundraising platform, today announced a first-of-its-kind “Free the Fee” initiative that will unlock billions of dollars in funding for nonprofits organizations by eliminating credit card fees charged to charities. Pledge will pay for credit card fees, typically charged to either donors or nonprofits, for all donations made through the platform, up to donations of $1,000.
Every year, charities lose millions in vital funding that comes from a donor’s pocket and goes straight to credit card and processing fees. In 2021 alone, individual giving in the US was estimated at $326 billion – yet an average of 3% of these donations never reached nonprofits, resulting in an estimated $10 billion lost annually. The “Free the Fee” initiative addresses this nationwide problem by putting needed funding back into the hands of those who need it most.
The initiative will be open to everyone and is immediately available through the following Pledge fundraising products: online fundraisers, donation forms embedded on websites, as well as Zoom Fundraisers powered by the Donations by Pledge app. Pledge has the largest nonprofit database in the industry, which includes over 2+ million registered nonprofits and 501(c)(3) charities operating in over 120 countries around the world. With $10 billion in new funding for nonprofits, Pledge’s industry-first can help fight climate change by planting 10 billion trees, make a serious dent in global hunger by providing tens of millions of meals to the 10% of people who experience hunger globally , and other world-changing outcomes that would significantly improve our communities and our planet.
“There has never been a more urgent time in our planet’s history than now to provide additional funding to nonprofits creating solutions to society’s greatest challenges,” said James Citron, CEO of Pledge. “As a company that puts purpose over profit and whose mission is to drive generosity, we felt it was imperative to do everything we could to free up potentially billions of dollars in funding for nonprofits. We believe this is critical to moving the philanthropic industry forward.”
Over 35,000 nonprofits have received funding to date from Pledge, and this initiative will enable hundreds of thousands more nonprofits to benefit from funding with less administrative costs coming out of their, or their donors’, pockets. Some of the industry’s leading modern non-profits have committed to using the Pledge and ensuring that more of their donors’ gifts go towards achieving their mission, including the Boris Lawrence Henson Foundation, Goodie Nation, Worthy of Love, DIY Girls and StreetCode. To make this possible, the Pledge relies on an optional tip from donors. These tips enable Pledge to offer its platform for free to fundraisers, nonprofits, and mission-driven companies everywhere.
“This latest commitment by the Pledge to support nonprofits in this way is immeasurable,” said Tracie Jade, executive director of the Boris L. Henson Foundation. “The work we do in the area of mental health, covering the cost of therapy and alternative healing methods for African-Americans, is an expensive undertaking. The additional funds we will be able to raise to serve the millions in need could not be more timely . Pledge has been an invaluable partner over the years. They are truly invested in helping to make a difference.”
Since creating the industry’s first public charity API, Pledge has continued to lead with innovation to achieve its mission to drive the world’s generosity. The company recently launched the Donations by Pledge app in Zoom, which allows any Zoom Meeting or Zoom Webinar to become a free virtual fundraiser. Now millions of Zoom Video Communications, Inc. users and their guests can seamlessly donate in seconds in any Zoom Meeting or Zoom Webinar to causes in their communities and around the world.
“When Pledge introduced the Donations by Pledge app for Zoom, it addressed a customer need – how to donate seamlessly in Zoom,” explained Ross Mayfield, Group Product Manager, Zoom Apps. “We are excited about this latest innovation from Pledge to cover credit card fees, as it will significantly increase funding for nonprofits and communities around the world, which aligns well with our core value of caring and delivering happiness to our customers.” You can access the Donations by Pledge app on the Zoom App Marketplace.
To fundraise through Pledge and ensure 100% of donations go to nonprofits, please visit Pledge.to/free-the-fee.
Pledge’s mission is to drive generosity by making it easy for anyone to raise money for a cause they’re passionate about. Integrated with an incredible network of 2+ million verified nonprofits, Pledge empowers individuals, charities and brands to create innovative campaigns that drive funding for positive impact. Through fundraising pages, cryptocurrency, text-to-donate, Zoom virtual events and more, Pledge makes doing good a sharable experience—now with no credit card fees for donations up to $1,000. Interested in making a difference? Visit make your #PledgeToDoGood.
Media contact: Transform Group: [email protected]