Gifts people make to the fund are not tax deductible donations, even if you are needy, and you can get in big trouble if you make statements or issue receipts that suggest otherwise.
Gifts are rarely taxable, they must be reported if more than $15,000 per person per year, but tax is not owed unless the total amount of lifetime gifts is more than $11 million. If you and your friends are married (you said "we" and "they") then spouse #1 can give you and your spouse each $15,000, and likewise spouse #2, so the practical limit with no paperwork may be as high as $60,000.
Your friends may also get a 1099-K. It would be up to them to keep documents showing these were gifts and the purpose of the gifts.
If they did something as potentially dangerous as giving something back for the donations (t-shirts, other items) then they may in fact be viewed by the IRS as running a business of selling t-shirts, and be required to file a tax return with self-employment tax and other things. But they should seek professional tax advice in that case.
