Minnesota woman to repay $120,000 raised on behalf of Philando Castile

Money quickly poured in and the crowdfunding campaign garnered national attention as donations topped $200,000 and were deposited into Ms...

Money quickly poured in and the crowdfunding campaign garnered national attention as donations topped $200,000 and were deposited into Ms Fergus’ personal bank account. like money, and watch outgrew up, Ms. Fergus repeatedly said in public that she would use the donations to pay off student lunch debts and changed the donation goal to $999,999.

Under the settlement, Ms. Fergus is required to pay the state $400 per month from June to February 2024. She must then pay approximately $111,000 by March 3, 2024, when she should have access to her retirement fund. If it does not respect these payments, it is immediately liable for all sums still due.

Mr. Ellison said in the statement that Minnesota has seen an influx of donations in recent years as the state has become “a national epicenter of activism and fundraising for social and racial justice.” His office too shared tips about how people can ensure that the money they donate is spent appropriately.

Regulations for People Raising Money for Others, or Causes, on Crowdfunding Websites vary state by statesaid University of Notre Dame law professor Lloyd Hitoshi Mayer.

In some states, including Minnesota, individuals are bound by the same charitable rules as nonprofits, Professor Mayer said. In other states, the charity rules do not apply to individuals or charities are not regulated at all.

“What makes crowdfunding particularly dangerous is how quickly you can set up a campaign and how quickly a lot of money can flow in if the story resonates,” Prof Mayer said.

According to Kevin Scally, relationship manager at Charity Navigator, which assesses charities, this isn’t just a problem for individuals. Small nonprofits — and even established ones — can be overwhelmed when an individual story or cause spreads online, creating a sudden influx of money that they don’t have the resources to handle or that exceeds the needs of the cause, he said.

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Newsrust - US Top News: Minnesota woman to repay $120,000 raised on behalf of Philando Castile
Minnesota woman to repay $120,000 raised on behalf of Philando Castile
Newsrust - US Top News
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