3 On Your Side: Crowdfunding For Adoption & Fertility Treatments
By Jim Donovan
PHILADELPHIA (CBS) - From the crib to all those toys; bringing home a baby can be a costly endeavor, But for some couples, even getting to that point can cost thousands of dollars. Some hopeful parents are turning to the internet to fund adoptions and fertility treatments.
It’s all part of a growing trend known as Crowdfunding. That’s where people network and pool their money to support efforts initiated by other people or organizations.
Becoming a parent through fertility treatments or through adoption can quickly drain a couple’s bank account. That’s why hopeful parents are turning to Crowdfunding websites like www.gofundme.com and www.giveforward.com to pay for adoption costs or fertility treatments.
While fertility treatments can run thousands of dollars, couples who go the adoption route often end up paying even more, with costs ranging from $2,500 to more than $40,000, according to the Department of Health and Human Services.
Campaigns for adoptions and fertility treatments on www.gofundme.com have raised more than a million-dollars since the site’s inception in May 2010. Meanwhile, this year alone, about 100 campaigns have been started on www.giveforward.com.
The Better Business Bureau offers these tips to those looking to help a family in the making.
-Investigate before you give. Try to learn more about the couple to verify their story.
– Don’t hesitate to ask for more information.
– Keep in mind that contributions are usually considered gifts and are not tax deductible.
– If you find an account that looks suspicious, report it to the hosting website.
To learn how Crowdfunding is being used to help pay for other types of medical treatment visit: www.cbsnews.com/video.