Households that made at least $150,000 received 28% more than households with incomes under $75,000, a CU study shows.
BOULDER COUNTY, Colo. — In the days after the Marshall Fire, hundreds of crowdfunding accounts were created to help survivors whose homes were lost in the devastating blaze in December 2021.
Weeks after the fire, $23 million was raised for Marshall Fire victims.
“It became clear very quickly that wealthier people were not only more likely to have GoFundMe campaigns in the first place, but they also raised substantially more money in their GoFundMe campaigns,” said Emily Gallagher, assistant professor of finance at Leeds School of Business.
She authored the paper along with Tony Cookson, Leeds finance professor, and Phillip Mulder, assistant professor in the risk and insurance department at the Wisconsin School of Business at the University of Wisconsin-Madison.
Ten percent of fire survivors with a GoFundMe received more than $60,000, while 12% raised less than $5,000, according to …