Charity and donations have recently become a hot topic in the cryptocurrency world. This is not just an action to give. In countries like the US, the country’s tax agency offers generous tax deductions to those who donate their cryptocurrency to registered charities. One company, The Giving Block, provides such embedded cryptocurrency collection solutions to more than 1,000 non-profit organizations.
But what does investor money matter? In a series of case studies sent to Cointelegraph, The Giving Block showed how six such charities benefited from total giving on their platform increasing by more than 1,000% year-on-year in 2021. Tami Tibbets, co-founder and CEO, told She’s the First, a charity that helps gender equality through education:
“During the most challenging fiscal year of my career as a nonprofit manager, I realized that I needed to get serious about cryptocurrencies. If I didn’t, the ship would sail without us, and at the same time, it would need resources to help the girls around. the world gains access to education and salvation. This cryptocurrency donation was the second largest gift of the year and changed my view of cryptocurrency.
Through her collection of cryptocurrencies, she donated over 1,400 food, water, and menstrual kits for the first time, connecting over 6,000 girls with mentors from all over the world. Similarly, CARE, one of the oldest nonprofits fighting global poverty, has increased its cryptocurrency from around $7,000 in 2020 to over $330,000 in 2021. The campaign, Afghanistan’s NFT CARE package, raised over $200,000 in one occasion. weeks to provide humanitarian assistance to Afghan families.
CARE Banner | Source: Giving Block
Then there is the Orangutan Outreach Orangutan Conservation Project, which has raised more than its entire 2020 revenue budget through cryptocurrency donations. “We are going to integrate crypto into everything we do in the future and make it bigger so we can do more good work,” said Richard Zimmerman, CEO of the Foundation. The Organtuan Outreach team cares for orphaned and homeless orangutans in purpose-built sanctuaries with the ultimate goal of returning them to the wild.
Orangutan awareness banner Source: The Giving Block
Thanks in part to non-fungible tokens, the non-profit organization Farming for a Renewable Trees Future was able to plant 2.3 million trees, which are estimated to sequester more than 80,000 tons of carbon dioxide over a 20-year period. “We can change the lives of 5,000 farmers and their families by providing them with training, jobs and food security,” said Alexa Castellano, Trees for the Future staff member.
Next up is none other than the University of Arizona itself, where the institution of higher learning receives over $20,000 a month in crypto donations. The funds are used to fund scholarships, student experiences, sports, research, and various academic programs. Finally, Vive Church, a worldwide community of churches located across the United States and the European Union, has managed to raise over $300,000 in crypto for a down payment on an 80,000-square-foot building in Palo Alto that can house 2,000 people. people in the hall. And there seems to be a lot of “faith” in this method of giving as well, as Aaron Williams, CFO of Vive Church, explains:
“Cryptocurrency is the only asset class that people seem to be very passionate about. I keep getting phone calls and text messages about this from my sponsors. I didn’t expect much enthusiasm from this. But I think their passion leads to generosity.