Session: Cryptocurrency and Nonprofits Organization. Blockchain is game changer.
Cryptocurrency is rapidly moving beyond early adoption and becoming gradually mainstream as more people want to do transactions, investments, and crypto donations. In 2021, cryptocurrency contributions to charity surged by 1,558 %. Crypto donations grew to $330M over the past two years, which underlines a high concentration of funds for those institutions that have adopted cryptocurrency systems. Thus, cryptocurrency is a fast-expanding form of charitable contributions that enables charities to reach a new demographic of contributors.
Early adopters will be part of the first generation of organizations to engage in cryptocurrency-related activities. Fundraising for non-profit organizations is a highly competitive industry. Taking advantage of a new and less competitive market allows you to free up more resources to pursue more ambitious goals.
Learn about cryptocurrency and how non-profits or other organizations can leverage gift acceptance and fundraising strategy. See the options available to liquidate crypto, receive cash donations, and avoid volatility issues, examples, and best practices. Understand the accounting, auditing, and tax implications and the 990 reporting.
- Cryptocurrencies are the futures and attract young donor base.
- Crypto donors can do good while benefiting from tax deductions.
- Blockchain is a game changer for impact measurements
- Review applicable accounting and auditing requirements. Fast changing space!
- Need to be aware of tax implications and gift acceptance policies.
Kate Koraia is CEO and Co-founder of BixBeta, VP of Technology at Kiwi Partners/Arabella Advisors, Lead Financial Engineer, Sage Intacct Practice Leader, MBA, CPA, PMP, Blockchain Technology Educator, and Leader in driving organizations and foundations through the Digital Transformation Path (AI, Big-Data, ML, DML, IoT, BC, RPA, API) Highly qualified financial advisor to Non-for-Profits with governmental regulatory compliance and internal control, the implementor of ERP Financial Systems, Start-up Financial Advisor, and Strategic Intelligent Partner. Graduated from Harvard and MIT. MBA and CPA