GiveMN is an online resource that is working to change the way Minnesotans give to nonprofits. When we last reported on them, GiveMN offered nonprofits free online fundraising tools, zero setup fees, no monthly subscription costs, and subsidized credit card transactions. They are still doing this today. The subsidy, however, which is provided by GiveMN’s philanthropic partners, ends October 1.
As that subsidy comes to an end, GiveMN’s technology platform provider Razoo has announced a partnership with Minneapolis-based U.S. Bank, enabling GiveMN to offer a 2.9 percent processing fee to all nonprofits. This rate is substantially lower than most existing online donation sites and is the result of a deal with U.S. Bank whereby some fees are waived for this cause.
“We are thrilled that our partnership with Razoo will allow our Minnesota nonprofits and donors to benefit from this great rate,” said Dana Nelson, Executive Director of GiveMN, in a press release yesterday.
The new structure will be in place in time for this year’s Give to the Max Day 2010 to be held on November 16. During last year’s Give to the Max Day, over $14 million was raised on behalf of 3,400 charitable causes.