Facebook live streaming feature will allow users to donate to non-profit organizations rather than just liking and sharing the video.
This Thursday Facebook has just announced their new feature for non-profit organizations that can live stream their events and raise funds during these sessions. Facebook has already registered more than 750,000 organizations that can actually receive funds from viewers while watching live streams. There will be a donate button displayed to viewers when the stream is on air.
Users from around the world can use this feature as part of their social and charity work but they need to link all the donations to a non-profit organization which can be from a local small organization to a large global organization.
WHICH ORGANIZATIONS ARE ELIGIBLE
Majority of registered 501 (c)(3) organizations are eligible for the program. John Cantarella director of Facebook social Good partnerships said in an interview “These tools will make it easier for fundraisers to tell their story and collect donations in real-time”
As an example of this feature Best Friends Animal Society BFAS raised around $600 from Facebook’s Social Good forum in New York City after the announcement.
APPLE ALREADY LAUNCHED THIS FEATURE
Before this development by Facebook, Apple started this feature earlier this month, in which Apple partnered with many non-profits allowing people to donate using Apple pay.
Facebook has witnessed the success of these tools for fundraising in the past where more than $34 million was raised in two different occasions. One was the Ice Bucket Challenge in 2014 which was able to raise $17 million in funding through videos posted on Facebook. The other one was after the earthquake in Nepal in April, 2015 which was able to pour more than $17 million into the charity box.
Although, Facebook is going to charge 3% of the fee from donors on all credit card transactions and they said it’s not for profit just for breakeven. They gave a comparison of a website GoFundMe who charges 5% fee.
BIG QUESTION FOR FACEBOOK:
Does Facebook still require breakeven from the charitable money? They are able to make it free of course but why there is 3% cut on all credit card transactions still needs to be answered.