Frequently Asked Questions
How does SaxaFund work?
SaxaFund is a crowdfunding platform for student projects at Georgetown. Each semester, the SaxaFund team selects a cohort of student projects to feature and then works with the teams behind each project to make sure their plans are realistic and actionable. When a donor gives to a project on SaxaFund, their donation is processed through PayPal and goes directly into SaxaFund's bank account at the Georgetown University Alumni and Student Federal Credit Union (GUASFCU). Once a project successfully meets its fundraising goal or passes its fundraising deadline, SaxaFund transfers the money from GUASFCU to the project team.
Is SaxaFund affiliated with Georgetown University?
SaxaFund is a joint venture born from a collaboration between The Corp, GUASFCU, and GUSA. Our three founding organizations are rooted in the Georgetown community and our Board and Executive Committee are comprised of Georgetown students and alumni, but we are a completely independent entity from the university.
Is my donation to SaxaFund tax-deductible?
Unfortunately not. All the student projects on SaxaFund are not-for-profit and designed to benefit the Georgetown community, but SaxaFund is a trust rather than a 501(c)3 organization.
Does SaxaFund take a cut out of donations to cover operating expenses?
No! SaxaFund's operating expenses are covered entirely by The Corp, GUASFCU, and GUSA. 100% of each donation, minus PayPal's 2.9% + 30¢ per transaction processing fee, goes directly to the student projects on SaxaFund.
Do I have to be a Georgetown alumnus or community member to donate to a project on SaxaFund?
No! Anyone can donate to student projects on SaxaFund. We love seeing donations from people all over the world, whether they're connected to Georgetown or not.