Reddit Just Got More Charitable Thanks To These New Fundraising OptionsBy: Chris Crum - August 27, 2012
Reddit announced a pair of new tools for reddit-related fundraising today. One of the tools has already seen a bit of action, and the other is totally new.
“For a while now, we’ve been trying to help encourage some additional tools for redditors to be able to collectively raise funds,” says erik [hueypriest] on the reddit blog. “For nonprofit projects in particular we wanted to find some low or no fee options so that as much of redditors’ money goes to the cause and not to payment processing and other fees. We also wanted to see more built in accountability and fraud checks, so that redditors can be more confident that their money is going where they think it is.”
The first one, reddit.Crowdtilt.com, has already been applied to a reddit-based fundraiser picked by actor Luis Moncada (Marco Salamanca from Breaking Bad) to help educate kids about gang violence and drug abuse, but now others you can use it as well.
According to reddit, with this tool, people all over the world can contribute, it provides tax-deductible receipts, it verifies beneficiaries of campaigns, and there is only a 2.5% secure credit card processing fee (other fees waived).
The second tool is at redditdonate.com, and is powered by Dwolla and Stripe. Users can paw with Dwolla or with credit cards through Stripe. It lets subreddit moderators place a donate button into the sidebar, where users can directly donate. It’s limited to verified 501(c)(3) non-profits who have to confirm accounts.
You can see what the button looks like here.
Dwolla has more about its offering on its own blog.