In brief
The rise in crowdfunding campaigns, particularly for medical expenses, reflects Americans' high concern for healthcare costs. While roughly 20% of U.S. adults contributed to crowdfunding in the past year, many express doubts about the platforms and recipients. Most donations tend to be small, emphasizing the importance of personal networks, as campaign goals remain challenging without significant social media reach.
NEW YORK (AP) — The act of giving back found a new avenue in the U.S. as many individuals turn to online crowdfunding platforms like GoFundMe to offer financial support during crises. A notable example is Quintin Sharpe, a 27-year-old wealth manager from Wisconsin, who contributed over $100 to a campaign for a former classmate's family after a tragic accident.
A recent AP-NORC Center for Public Affairs Research poll highlighted that about 20% of U.S. adults donated to crowdfunding campaigns last year, with medical expenses being the predominant cause. Sharpe commented on the expedience of crowdfunding, noting that it often presents a more straightforward process than traditional charity avenues.
Despite its growing popularity, skepticism exists regarding the reliability of campaigns and the fees charged by crowdfunding platforms. The poll found that fewer than half of Americans trust the sites' service fees, raising concerns over the integrity of donations.
Participants generally contribute smaller amounts, with 60% donating $50 or less, underlining the significance of personal networks in achieving funding goals. For those experiencing financial distress from medical and other emergency costs, crowdfunding has become a recommended path to alleviate some pressures.
Yet, experts warn that as healthcare costs continue to rise, reliance on crowdfunding may increase, potentially pushing more individuals into debt rather than receiving necessary aid. The intersection of health advocacy and urgent financial needs thus remains a key discussion in American philanthropy today.
