Two Million Dollars Raised Through Crowdfunding as Critics Beg Donors to Exercise Caution

Crowdfunding websites have received pledges amounting to around two million dollars for the benefit of the victims of the recent Boston Marathon bombings. People from all over who want to help but are too far away find solace and a sense of fulfillment by donating via online crowdfunding sites. Crowdfunding sites such as GiveForward and GoFundMe facilitates a quick means of sending money directly to a person in need.

One generous donor said that she could not sleep well and decided to start an online fundraiser the next morning. She said that being able to do something got rid of the feeling of helplessness that she felt after the tragic events at Boston. GoFundMe has already raised funds amounting to 1.3 million dollars for its campaign called “Believe in Boston.” Brad Damphouss, the chief executive of GoFundMe said that crowdfunding empowers donor and supports, making them part of the solution.

How crowdfunding works

Fundraisers can be anyone in the intended beneficiary’s circle of family or friends. Even the victim can set up the fundraiser. Organizers act as the approving body and once the account has been reviewed then it can go live and donations can start coming in.

Donors who want to provide financial assistance to victims to cover their medical bills as well as personal expenses can donate online via crowdfunding sites. The most popular crowdfunding efforts are found at GiveForward, FundRazr, YouCaring, GoFundMe, and Fundly. Anyone from around the world can be a donor. Typically, the site receives a 5-12% fee but there are crowdfunding sites that do not ask for any fee at all. Beneficiaries may claim the donations as soon as 3-5 days of the target completion of the fundraising event.

Exercise caution

However, as more pledges are adding up to the generous list of donors, critics are reminding everyone to exercise caution. Charitable fraud experts say that crowdfunding is a very risky way to help others. Critics insinuate that donors who want to help out ought to give to institutions that are already established instead. And if they want to give direct monetary help to individuals they can always ask the person’s address and send a cheque.

Those who are critical of crowdfunding as a means of donating to charitable causes often point out that it is important that the donors make sure their money is received by the intended party. Crowdfunding sites argue that they are vigilant in ensuring the security of online transactions and that they are also keen on monitoring what happens in their sites in order to immediately identify anything suspicious.

Help delivered

Help has arrived for many of the injured in the recent Boston Marathon bombings. Celeste and Sydney are a mother and daughter pair who were injured as they stood welcoming the marathoners at the finish line. Crowdfunding has raised $500,000 to cover their medical needs. Jessica and Patrick are newlyweds who lost limbs due to the attack. Donations from people who want to help them in this trying time amount to $560,000.