U.S. Bank and Razoo Join Forces to Offer Nonprofit Organizations the Best Value in Online Charitable Giving

WASHINGTON & MINNEAPOLIS--(BUSINESS WIRE)--People who go online to make charitable contributions to nonprofit organizations can make their giving go further, thanks to a new partnership between Razoo, the leading online giving and fundraising company, and U.S. Bank, one of the largest commercial banks in the country.

“We are thrilled that our partnership with Razoo will allow our Minnesota nonprofits and donors to benefit from this great rate”

Beginning Oct. 1, Razoo will process all donations made through its online platform at a simple, flat rate of only 2.9 percent. Razoo will offer this great value rate through its new partnership with U.S. Bank, which will waive select fees associated with processing credit cards. This low rate will allow more donation dollars to go directly to nonprofits than most other online giving sites, many of which charge nonprofit organizations steep fees up to 15 percent of dollars donated.

“Razoo is dedicated to helping nonprofits embrace the benefits of online fundraising. No other company in the online giving space offers nonprofits and donors the incredible value of free and innovative fundraising tools with a great low rate for using credit cards,” said J. Sebastian Traeger, CEO of Razoo. “We are proud to partner with U.S. Bank, a trusted name in secure transactions, so that we can continue to provide the best value and experience in online giving and fundraising.”

Razoo is an innovative online giving and fundraising website that brings together a comprehensive list of nearly one million charitable organizations, allowing users to easily find and donate to the charities of their choice. Its partnership with U.S. Bank will also have a positive impact on the nonprofit affiliates of GiveMN.org – a custom Razoo portal for Minnesota nonprofits – as well as on GiveMN donors.

“We are thrilled that our partnership with Razoo will allow our Minnesota nonprofits and donors to benefit from this great rate,” said Dana Nelson, Executive Director of GiveMN.

Both Razoo and GiveMN will continue to provide individuals and nonprofits a suite of free and inventive tools to encourage online giving and fundraising – such as the easy-to-install Razoo DonateAnywhere widget, which enables nonprofit organizations to receive donations seamlessly on their own websites.

Previously, donations on Razoo and GiveMN had been generously subsidized by their philanthropic partners. Given its growth and size, Razoo pursued negotiations with a major bank partner that would allow Razoo to provide the best value to nonprofits and donors seeking to give or fundraise online. Enabled by the partnership with U.S. Bank, Razoo will also provide secure processing and donation disbursement services to nonprofits.

For its part, U.S. Bank has a long tradition of serving and building the communities where it does business. Through both financial support and employee volunteerism, the company works to ensure that its communities are strong and prosperous. U.S. Bank’s community outreach efforts focus on a variety of areas, including the arts, education, and health and human services.

“Online donations offer a convenient way for people to support programs and organizations like GiveMN.org that make our communities thrive,” said Elliot Jaffee, Twin Cities Market President at U.S. Bank. “U.S. Bank is proud to play a part in helping to make online donations an even more cost-effective option for all by using our payments capabilities and through our strategic partnership with Razoo.”

About U.S. Bancorp
U.S. Bancorp (NYSE: USB), with $283 billion in assets as of June 30, 2010, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,002 banking offices in 24 states and 5,309 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Elavon, a wholly owned subsidiary of U.S. Bank, is a leading credit card acquirer, providing processing services to more than 1 million merchants available worldwide. Visit U.S. Bancorp on the web at www.usbank.com.

About Razoo
Founded in 2006 and based in Washington, D.C., Razoo is a trusted and innovative way to give and raise money online. Razoo offers a secure platform, a streamlined donation process, and a suite of free and easy-to-use fundraising tools that inspire individuals and nonprofits to give and fundraise online. To date, more than $22 million has been donated to thousands of charities in the U.S. and around the world through Razoo. With over 105,000 donor members to date, Razoo is rapidly growing its community and establishing a movement that inspires people to contribute and fundraise more than ever before. More information is available online at www.razoo.com.

About GiveMN
GiveMN is an innovative online resource that is changing the way Minnesotans give and helping create a stronger nonprofit community for Minnesota. GiveMN is an independent 501(c) (3) supporting organization of the Minnesota Community Foundation. Many partners shaped GiveMN to build upon Minnesota’s strong tradition of philanthropy, including: ADC, Blandin Foundation, Briggs & Morgan, Bush Foundation, Central Minnesota Community Foundation, Ecolab Foundation, F.R. Bigelow Foundation, Greater Twin Cities United Way, HealthPartners, Initiative Foundation, The Minneapolis Foundation, The McKnight Foundation, Northland Foundation, Northwest Minnesota Foundation, The Saint Paul Foundation, Southern Initiative Foundation, Southwest Initiative Foundation, Target, West Central Initiative Foundation and Women’s Foundation of Minnesota. For more information, go to www.GiveMN.org.