Pledge Launches World’s First Initiative to Eliminate Credit Card Fees
Pledge, the all-in-one fundraising platform, today announced a first-of-its-kind “Free the Fees” initiative that will unlock billions of dollars in funding to nonprofits 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 its platform, up to donations of $1,000.
Every year, charitable organizations lose millions in important funding that comes from a donor's pocket and goes directly to credit card and processing fees. In 2021 alone, individual giving in the United States was estimated at $326 billion– yet an average of 3% of those donations never reached the nonprofits, resulting in an estimated $10 billion dollars lost annually. The “Free the Fees” initiative addresses this nationwide problem by putting necessary funding back into the hands of those that need it most.
The initiative will be accessible to everyone and is immediately available via 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) charitable organizations operating in over 120 countries around the world. With $10 billion dollars of new funding to nonprofits, Pledge’s industry first could help to 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 humans who experience hunger globally, and other world-changing outcomes that would significantly better our communities and our planet.
“There’s 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 power generosity, we felt it critical to do all that we can to unlock potentially billions of dollars of funding to nonprofits. We believe that 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 of nonprofits to benefit from funding with less administrative costs coming out of theirs, or their donor’s pockets. Some of the industry-leading and modern nonprofits committed to using Pledge and ensuring that more of their donors’ gifts go to achieving their mission, including: Boris Lawrence Henson Foundation, Goodie Nation, Worthy of Love, DIY Girls, and StreetCode. To make this possible, Pledge relies on an optional tip from donors. These tips enable Pledge to offer its platform free to fundraisers, nonprofits, and mission-driven companies everywhere.
“This latest commitment by Pledge to support nonprofits in this way is immeasurable,” says Tracie Jade, Executive Director of the Boris L. Henson Foundation. “The work we do in the mental health space, covering costs of therapy and alternative healing modalities for African-Americans, is an expensive undertaking. The additional funds we’ll be able to raise in service to the millions in need, could not be more timely. Pledge has been an invaluable partner over the years. They truly invest in helping to make a difference.”
Since creating the first public charity API in the industry, Pledge has continued to lead with innovation in order to achieve its mission to power 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 live virtual fundraiser for free. 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 local communities, and around the world.
“When Pledge introduced its Donations by Pledge app for Zoom, it solved a customer need - how to donate seamlessly within Zoom,” explained Ross Mayfield, Group Product Manager, Zoom Apps. “We’re excited about this latest innovation from Pledge to cover credit card fees as it will significantly increase funding to nonprofits and communities around the world, which aligns strongly with our core value of care and delivering happiness to our customers.” You can access Donations by Pledge app on the Zoom App Marketplace.
To fundraise through Pledge and ensure that 100% of donations go to nonprofits, please visit Pledge.to/free-the-fee.
The preceding press release was provided by a company unaffiliated with NonProfit PRO. The views expressed within do not directly reflect the thoughts or opinions of the staff of NonProfit PRO.