The Giving Block was founded in 2018 after seeing hundreds of millions of dollars in Bitcoin being donated to the few nonprofits that were equipped to accept those donations. Our founders came from cryptocurrency as well as nonprofit fundraising and operations backgrounds.
With the cryptocurrency bull market of 2017-2018, millions of people around the world made a fortune investing in and trading cryptocurrencies like Bitcoin and Ether. Because the IRS treats cryptocurrency as property, these investors had a huge tax incentive to donate Bitcoin and other cryptocurrencies directly to nonprofits. In short, if donated directly to a nonprofit, they would not be liable for capital gains tax and could write it off on their taxes (similar to a stock donation).
The problem? Very few nonprofits knew how to accept cryptocurrency donations or were even thinking about this new pool of donors. So Pat and Alex set out to create the only nonprofit specific solution for accepting cryptocurrency donations, starting at Pat’s old stomping ground the Lupus Foundation. Now, donors have over 500 nonprofits to choose from and its easier than ever to begin accepting cryptocurrency donations.
The Giving Block team was instrumental in getting us set up to accept cryptocurrency, and connected us to a whole new community of generous donors, looping us in on crypto-centric giving events.
The Giving Block team made set-up super easy and assured a smooth donor experience from crypto gift to receipting, and our Finance team especially appreciates the platform’s autosell conversion to cash.
This is our first cryptocurrency fundraising campaign and working with The Giving Block made the process easy and effortless
Love working with The Giving Block - young, energetic, forward looking, professional and human! They are good at what they do, but most importantly they care about others in need. Great partner, great people!
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