A Gates Foundation campaign will match up to $500,000 in donations made on Giving Tuesday using one of Facebook’s newest charitable-fundraising tools, the grant maker and the internet company said Thursday.
The Gates Foundation is putting up $500,000 to match donations up to $1,000 per individual fundraising page, and Facebook will cover up to $500,000 in fees associated with the donations. The company charges 5 percent per transaction but says it makes no profit from the tool.
Facebook said Thursday that there are currently 750,000 charities registered to receive money raised on the social network. Organizations can still sign up with Facebook to be the beneficiary of individual users’ fundraising pages. The company also said that its users will be prompted on Giving Tuesday with a message encouraging them to set up such pages.
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