GiveMN likely to increase transaction fees

GiveMN, the website which provides a central fundraising terminal for Minnesota non-profits and schools, will likely have to increase the fee it charges for online donations.

Currently the transaction fee is 2.9%; the fee goes to Razoo.com, the platform provider for GiveMN’s website.

Beginning April 1, 2013 Razoo.com is almost doubling its transaction fee for its clients to 4.9%.

GiveMN Executive Director Dana Nelson says Razoo.com has given GiveMN an extension; they are currently negotiating when that extension will expire. Once that happens, Nelson admits GiveMN rates are ‘likely to increase.’

“We are fighting for Minnesota nonprofits and schools,” said Nelson. “As a not-for-profit ourselves, our goal is to continue to offer low cost, high value online giving resources to Minnesota nonprofits, schools and donors.”

Nelson says her organization is negotiating with Razoo to get the best possible rate.