fees

 

Posting a project on ioby is a great way to support your idea for your neighborhood, and our fees are among the lowest of any platform out there.

A 3% donation processing fee applies to all project donations. When we process credit card donations, this fee is passed along to our third party processor. When we accept donations made by check, this fee covers our internal processing. This fee cannot be waived, and is retained at disbursement.

For projects with budgets over $1,000 there is a $35 flat fee that goes to cover the time and materials it takes to support your project. For projects with budgets under $1,000, we waive this fee.

Finally, all projects fundraising on ioby need to have 501(c)3 status, or have a fiscal sponsor. If you would like to use ioby as a fiscal sponsor, there is an additional fee of 5% of the total amount you raise. (Here's more information on our fiscal sponsorship service.)  

Answers to some common questions:

Q: How are fees calculated?
A: Our fees are calculated based on the total amount of money that you raise. The ioby platform fee is a flat $35 fee added on top of this total. Fees for donation processing (3%) and ioby fiscal sponsorship (5%, if applicable) are calculated independently based on your total amount raised.
 
For example, if you need $1,000 to fund your project and use ioby's fiscal sponsorship service, your budget and fee would be as follows:
$1,000 (the final budget you'd like disbursed) + $34 donation processing fee (3% of total raised) + $56 fiscal sponsorship fee (5% of total raised) + $35 platform fee = $1,125 total to raise. 
 
Q: Do I pay anything upfront?
A: No. As shown above, the fees are built into the total that you'll need to raise for your project. Applicable fees are retained by ioby when we disburse the money you raised to you or your fiscal sponsor at the end of your campaign.
 
Q: What happens if my budget changes?
A: Your fees are adjusted along with your new budget. If you need to use our Flexible Finish policy, then your fees are recalculated before your funds are disbursed. 
 
Q: What fee do I pay if my budget is $1,005?
A: You pay the $35 fee. 
 
Q: What fee do I pay if my budget is $999?
A: You do not pay the $35 fee.
 
Q: What fee do I pay if I use ioby's Flexible Finish policy over $1,000 and my original budget was under $1,000?
A: You would submit a revised budget, which will include the $35 ioby platform use fee.
 
Q: What fee do I pay if I use ioby's Flexible Finish policy under $1,000 and my original budget was over $1,000?
A: You would submit a revised budget, and the $35 ioby platform use fee is waived.
 

*This fee policy went into effect on May 29, 2015