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“PMC Fundraising Update (Multiply and Subtract)”

From: Seth Dillingham In Response To: Top of Thread.  
Date Posted: Thursday, August 30, 2007 10:18:29 AM Replies: 0
Enclosures: None.

So far this year I've raised $3,058.10 for the Pan-Mass Challenge. That includes the five auctions which have closed already, and the very generous donations which were made before the auctions started.

There are still at least twenty auctions left to run, so I'm pretty sure I'll meet my goal of $6,600.

It's a little frustrating to watch the money shrink on its journey from an auction buyer to the PMC (the charity). Since misery loves company, I thought I'd explain the process to anyone who cares to read about it. ;-)

One of the auctions closed at exactly $200, so let's use that for our example.

The auction contained 49 applications, having a total retail value of $1,086.12. (This was a bad move on my part, I shouldn't have included so much software, but I'll say more about that in a separate post.)

Auction sold for: + $200.00
eBay: Bold Listing: - $1.00
eBay: Item Subtitle: - $0.50
eBay: Insertion Fee: - $2.40
eBay: Final Value Fee: - $7.00
PayPal Funds Transfer: - $8.96
Subtotal: 180.14

So there $180.14 is left to donate to the PMC. But we're not done.

In order to be listed as a "Charity Auction" on eBay, I have to commit to make the donation through their Giving Works program, which uses Mission Fish. They take the payments and pass them on to the charity. For a fee, of course.

What fee? $3 plus 2.9%. In this case, that's $8.22, leaving $171.92 to finally end up at the PMC.

Thankfully, the PMC raises most of their operating capital separately from their rider-raised funds (mostly through major corporate sponsorships), so over 99% of the money we (the riders) donate goes directly to Dana-Farber.

Back to my original point: of the $3,058.10 that's been raise so far this year, just under $1100 of it is from the five auctions which have already closed. We're on track.

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