GoFundMe Giving Funds: Frequently Asked Questions
About donor-advised funds (DAFs)
What is a donor-advised fund (DAF)?
A donor-advised fund is a charitable giving account that allows you to contribute funds, receive an immediate tax deduction, and then recommend grants to charities over time. DAFs are managed by sponsoring organizations (like the GoFundMe Giving Fund ), which handle the administration, tax receipting, and grant distribution.
How does a DAF work in simple terms?
Think of a DAF as a giving wallet. You deposit money (or, coming soon, assets like stocks), get a tax deduction upfront, and decide later where that money goes. In the meantime, the funds can be invested to grow tax-free – helping you potentially give even more in the future.
Why do people use DAFs?
DAFs provide:
- Immediate tax deductions
- Centralized donation records
- Investment options for tax-free growth
- Flexibility to support multiple charities over time
- Privacy and control over your giving
How GoFundMe Giving Funds work
What is a Giving Fund on GoFundMe?
A Giving Fund is your personal donor-advised fund, managed through the GoFundMe Giving Fund in partnership with GoFundMe. It’s a simple, powerful way to plan and manage your charitable giving—whether you want to support nonprofits, schools, or crisis relief efforts. You can give to causes that matter to you, all while keeping your giving organized and growing over time.
Is GoFundMe Giving Fund a DAF sponsor?
Yes, GoFundMe Giving Fund is the name of the nonprofit that acts as the DAF sponsor. It holds and manages your Giving Fund on your behalf and ensures that all grants go to eligible organizations.
How do I open a Giving Fund?
It only takes a few minutes:
- Create your account or sign in
- Add funds (as little as $5)
- Start recommending grants to causes or individuals
Find out more about how to create a GoFundMe Giving Fund.
Do I need a minimum balance to open a Giving Fund?
You don’t need a minimum balance to open an account. With as little as $5, you can make your first contribution, making this one of the most accessible DAF options on the market.
What types of contributions can I make?
You can contribute via credit card, debit, or ACH transfer. You will also be able to donate non-cash assets like stocks and cryptocurrency in the months ahead.
Can I name my Giving Fund?
Yes, you can personalize your Giving Fund with a name that reflects your values, your family, or a cause you support.
Can I automate contributions?
In a few months, you will be able to schedule recurring contributions to help grow your fund gradually and take full advantage of tax benefits throughout the year.
Tax Benefits and Reporting
Do I get a tax deduction when I contribute?
Yes, you get an immediate federal income tax deduction in the year you contribute.
Contribution limits (IRS guidelines):
| Contribution Type | Deductibility Limit |
| Cash | Up to 60% of AGI |
| Appreciated Assets | Up to 30% of AGI |
Note: Always consult a tax advisor for your specific situation.
Will I get a tax receipt?
Yes, the GoFundMe Giving Fund provides you with one simple, consolidated tax receipt each year—covering all your contributions, no matter how many causes you support.
What happens if I contribute near the end of the year?
As long as your cash contribution is made before midnight EST on December 31, it counts for that tax year. Giving late in the year is a common way to maximize tax deductions while deciding where to grant later.
Granting from Your Fund
How do I choose where to give?
GoFundMe’s platform makes it easy to search, discover, and follow causes you care about—whether it’s disaster relief, mental health, animal rescue, or local schools. You can browse recommendations or save your favorites to return later.
Can I grant anonymously?
Yes, you can choose to make your grants public or anonymous, depending on your comfort and preferences.
Are there any restrictions on who I can support?
All grant recommendations are reviewed to ensure compliance with IRS rules and GoFundMe Giving Funds’ guidelines. You cannot use the funds to support yourself, fulfill personal obligations or for any peer to peer fundraisers on GoFundMe.
Investment Options
Can my funds grow while they sit in the Giving Fund?
Yes. Giving Funds can be invested in low-cost portfolios, which may help your charitable dollars go further over time. Any growth is tax-free since the funds are already considered a charitable donation.
Do I have to invest my funds?
No. You can keep your funds in a non-invested balance and use them for giving right away.
Security, Fees, and Support
Is my Giving Fund secure?
Absolutely. GoFundMe Giving Funds are backed by industry-standard security protocols, ensuring peace of mind for donors and recipients alike.
Are there any fees?
GoFundMe Giving Fund doesn’t charge any administrative fees, but users can add a voluntary contribution when making a donation, to help the GoFundMe Giving Fund support platform operations and compliance requirements.
Can I talk to someone if I have questions?
Yes. Friendly support is available to walk you through setting up your fund, understanding tax receipts, or navigating grants. Visit the Help Center for more.
Legacy Giving and Estate Planning
Can I include my Giving Fund in my estate plan?
Yes. You can name GoFundMe Giving Fund as a charitable beneficiary in your will or trust, allowing your Giving Fund to continue supporting causes you care about after your lifetime.
How do I make a bequest to a Giving Fund?
You can work with your estate planner to include language in your will or living trust that designates a portion of your estate to your GoFundMe Giving Fund. Reach out to our support team for sample language.
Can I name successors for my Giving Fund?
Yes, you can name individuals to take over grantmaking from your Giving Fund, ensuring your giving legacy lives on.
Are legacy gifts to a Giving Fund tax-deductible?
Yes. Bequests to GoFundMe Giving Fund may be eligible for an estate tax deduction, depending on the size and structure of your estate. Consult your estate attorney or tax advisor for guidance.
Other questions
I’m new to charitable giving—why would I need a Giving Fund?
If you give even a few times a year – or want to start giving more intentionally – a Giving Fund helps you stay organized, plan your donations, and take full advantage of tax benefits. It’s like having your own charitable foundation, but without the complexity or high minimums.
I already donate on GoFundMe—should I use a Giving Fund?
Yes! A Giving Fund allows you to plan ahead, contribute once, and make thoughtful, strategic grants throughout the year. You’ll also receive a single tax receipt, simplifying your taxes.
Please keep in mind that Giving Funds can only make donations to charities, schools, religious organizations and causes you care about so you won’t be able to support any peer to peer fundraisers with this charitable giving account.