News & Analysis as of

Crowdfunding GoFundMe

Crowdfunding is a method for raising capital whereby many individuals network and pool their funds, usually via the internet or social media. Crowdfunding methods are used in a variety of circumstances including,... more +
Crowdfunding is a method for raising capital whereby many individuals network and pool their funds, usually via the internet or social media. Crowdfunding methods are used in a variety of circumstances including, but not limited to, supporting charitable organizations, disaster relief, product development, artistic projects, and financing start-up companies. The passage of the JOBS Act of 2012 sought to broaden the use of crowdfunding in developing private capital for start-up companies by relaxing certain SEC investor registration requirements. less -
Stark & Stark

GoFundMe & Divorce: Risks You Need to Know Before Crowdfunding Your Legal Fees

Stark & Stark on

Going through a divorce is expensive both emotionally and financially. Between attorney fees, court costs, and the financial upheaval of separating one household into two, the temptation to seek crowdfunded financial support...more

Chambliss, Bahner & Stophel, P.C.

The Risks of Crowdfunding for People With Special Needs

Crowdfunding can provide financial support for people with special needs but may jeopardize their ability to qualify for means-tested government benefits such as Supplemental Security Income and Medicaid. Common reasons...more

Cozen O'Connor

28 AGs Call on GoFundMe for Changes in Terms of Service

Cozen O'Connor on

New Mexico AG Hector Balderas, Mississippi AG Lynn Fitch, and Louisiana AG Jeff Landry led a coalition of 28 AGs that sent a letter calling on the online crowdfunding platform GoFundMe to make improvements in the clarity and...more

Cozen O'Connor

Texas Attorney General Launches Probe of GoFundMe over Suspension of Fundraiser for Canadian Truckers Protesting Vaccine Mandates

Cozen O'Connor on

Texas AG Ken Paxton issued a Civil Investigative Demand (“CID”) under the Texas Deceptive Trade Practices Act to crowdsourcing platform GoFundMe Inc. over GoFundMe’s removal of a fundraising campaign for the Canadian truckers...more

Bowditch & Dewey

Tax Tips for GoFundMe Donors and Organizers

Bowditch & Dewey on

Since January of 2020, over 175,000 COVID-19 related GoFundMe campaigns were created, raising more than $416 million. While donors may be feeling charitable, they should know that their contributions are likely not...more

K&L Gates LLP

Using a GoFundMe Campaign to Donate Money? More Complicated Than You Think.

K&L Gates LLP on

Crowdfunding – a mechanism which connects people in need directly to those who are able to provide support – has completely revolutionised the traditional fundraising landscape. But it can come at a cost if the fundraising is...more

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