Answer
What happens if a campaign raises more than its goal?
Short answer
It keeps going and the creator keeps the excess. Passing the goal does not close a campaign — it closes the refund window, because from that moment the money is committed to being released rather than returned.
The goal is a threshold, not a ceiling. A campaign runs until its deadline whatever it has raised, so a project that hits its target in a week can spend the remaining time raising more, and everything above the line belongs to the creator on the same terms as everything below it.
The one thing that changes at the moment of crossing is worth understanding, because it is a real trade. While the goal is unmet, any backer can withdraw. Once it is met, that instruction stops accepting calls for that campaign and the creator can claim. Backing a campaign that is already funded is therefore a different decision from backing one that is not: you are giving up the ability to change your mind.
For a creator this is why the goal should be the amount that makes the project possible rather than the amount you hope to raise. Setting it high to look ambitious risks missing it and getting nothing; setting it at the true cost means the campaign can succeed and then keep going.
Overfunding is also where promises get made that later become the delivery problem. More money means more scope, and more scope means a later ship date — which is the most common reason a well-funded project disappoints. Backers reading a campaign that blew past its target are entitled to ask what the extra is for.