These past few months have been full of exciting changes here at Mightycause. And one of the changes we are most excited to share with you is our new partnership with U.S. Bank, one of the largest commercial banks in America. Thanks to this partnership, we will be able to continue to provide the best value and experience in online giving and fundraising.
Beginning October 1, 2010, we will process all donations made through Mightycause at a simple, flat rate of only 2.9 percent — one of the lowest rates available in the online giving industry. Ultimately, this is going to allow more donation dollars to go directly to nonprofits than most other online giving sites, many of whom charge 5%, 7.5%, and even up to 15% of the donation amount.
Donations made on Mightycause will continue to be completely subsidized by our generous philanthropic partners until October 1. We want to sincerely thank all of our gracious philanthropic partners and funders who have provided an incredible $1.1M to date to cover credit card transaction costs!