It depends on how you want to engage your donors with your fundraiser. If you are a non-profit looking to keep 100% profits, choose our DONATION TIPS pricing model that only deducts your Stripe fees of 2.9% + .30 per online transaction made to your fundraiser. This solution provides you a way to keep all the profits while asking your donors to "chip in" and tip for the expenses of supporting your campaign through the Read for My School platform.

If you are an organization that already has a set budget that takes into consideration platform costs to support your fundraiser, you will want to choose our SERVICE FEE pricing model. This model provides a flat rate fee (currently 15%) that is taken out automatically per transaction that covers all platform costs (including Stripe's 2.9% + .30 per credit card processing fees per transaction) so you don't have to burden your donors to support the costs of your fundraiser.

Yes! Our donation tips pricing model only deducts your Stripe credit card processing fees of 2.9% + .30 per online transaction. After the Stripe fee deduction, all of the profits from the online transaction are 100% going to support your fundraiser!

We received a lot of customer feedback from organizations who don't want to burden donors with additional costs beyond the generosity of the pledge donation itself. Organizations who have a set budget - either through sponsorships or budget allocation - prefer a flat fee pricing model to create a deeper connection with their donors and their cause-marketing message.

As a result, we provide organizations like yours with choices to find the right pricing option that works for your budget!

Stripe is a 3rd party credit card processing company that handles all of the online pledge donation transactions for your fundraiser through the Read for My School app. Read for My School has partnered with Stripe due to its safe and secure handling of processing donations as well as services provided to our customers.

Stripe is FREE to setup and all online transaction fees associated with your RFMS fundraiser is taken care of through RFMS Service Fee pricing model so there are no costs you or your donors. If you choose our donation tips model, Stripe's credit card processing fee per transaction is deducted from your Stripe account.

To verify your business, Stripe requires the following for review:

• Business ownership verification: We will confirm the identification information you provide when you set up your Stripe account.
• Bank account ownership verification: We will confirm that the information on your account application matches the account owner of the bank account added to Stripe.
• Physical location of business: We will confirm the physical address of your business.
  

IMPORTANT TIP: Please make sure that your business name matches your business tax ID (EIN) so that Stripe can process and approve your Stripe business account.

Below are guidelines of what business information commonly matches with the IRS, sorted by business type.

These are general guidelines; each business case is unique and this list is not a guarantee of a Tax ID match. See Using IRS documentation as reference when entering business name and tax ID number (TIN) for US-based businesses for instructions and additional information on how to find and enter your name and EIN.

Common identification guidelines by business type

• Individual: Individual Name and Social Security Number (SSN)
• Sole Proprietorship: Individual Name and SSN (or EIN, if your Sole Prop has one)
• Single Member LLC that is disregarded for federal tax purposes:
• If owned by an individual: the owner’s individual name and SSN or EIN. The LLC’s name or EIN should not be used.
• If owned by a corporation or partnership: the owner’s name and EIN. The LLC’s name or EIN should not be used
• LLC that is treated as Corporations or Partnerships for federal tax purposes: The LLC’s name and EIN
• Corporation: Business Name and Entity’s EIN
• Partnership: Business Name and Entity’s EIN
• Tax Exempt Organization (e.g. Non Profits): Organization Name and Entity’s EIN as found on the IRS Tax Exempt Organization Search tool.
• Other Entities: Enter your name and EIN as shown on required U.S. federal tax documents. This name and EIN should match the name and EIN shown on the charter or other legal document creating the entity.

For additional information on what name and TIN to provide, please see instructions in the IRS Form W-9.

If you are a tax exempt organization (e.g. nonprofit organization) located in the United States and registered with the IRS, you can use Stripe by entering your Organization name and Employer Identification Number (EIN).

Tax exempt entities can be found on the IRS public Tax Exempt Organization Search tool. Search for your organization to identify the name and EIN stored on the IRS website: search here.

See Using IRS documentation as reference when entering business name and tax ID number (TIN) for US-based businesses for instructions and additional information on how to find and enter your name and EIN.

You (or the organization that created the fundraiser) are responsible for all payment disputes that occur with your fundraiser on Read for My School. To view more, please see our Terms of Use. 

Under the donation tips pricing model, donors will be asked to "chip in" and leave a tip to cover your platform costs when making a pledge donation to support your fundraiser.  Tips received from your fundraiser on Read for My School are non-refundable and part of the online transaction of the donation.

On average, donor tips will cover your platform costs as well as keep the lights on to offer this innovative approach to fundraising. Your community support and generosity through our tip-based pricing model is critical so we can maintain a platform service where school receive 100% profits.