Crypto philanthropy has generated billions of dollars in donations to charities.
At the time of writing this post, the crypto market cap is on pace to double since the start of this year, with Bitcoin up 124% YTD. In this same year, the S&P 500 has doubled its average performance, up nearly 19%. The market performance drives giving cycles, so here’s what you need to know.
This year, tens of millions of people in the United States are more incentivized to donate crypto and stocks than with cash.
These donors are trending younger, their average gift sizes are trending higher, and the nonprofits who take them seriously are positioned to be the winners of the ongoing Great Wealth Transfer.
However, many donors aren’t aware of the tax incentive that makes giving crypto so advantageous, so it’s paramount for nonprofits to make it clear to their audiences that crypto is one of their giving options.
Every year, it all begins with Crypto Giving Tuesday, the biggest awareness day for crypto philanthropy.
Crypto donors have put over $1,000,000,000 (that’s billion, with a “B”) into the hands of nonprofits so far, emerging as one of the most impactful donor demographics of the last decade. Though less than 5% of crypto donations occur on the actual day, more nonprofits and donors meet one another on Crypto Giving Tuesday than any other day each year.
This is the day where nonprofits reintroduce themselves to crypto donors, sharing stories of the transformative crypto donations they’ve received throughout the years, and reminding crypto donors to give again before the 2023 tax deadline.
In the weeks leading up to Crypto Giving Tuesday, nonprofits have been emailing their donor base to prepare them for the big day, and remind them of the match dollars that will be available via The Giving Block and Shift4. (See below for matching offer details.)
These charities have also been posting across Twitter, Facebook and beyond to millions of followers, letting them know that they value crypto donors and want their support on Crypto Giving Tuesday and throughout the month of December.
For donors, nonprofits, media and partners all across the crypto philanthropy community, here’s what you can expect this year:
1. The Faces of Crypto Philanthropy Series: Honoring the Most Impactful People in Crypto Philanthropy
We’re honoring the individuals working at charities, building crypto for good use cases and making our world more beautiful at the intersection of web3 and the impact sector.
Meet some of the key people behind this transformational, multibillion dollar nonprofit sector trend.
2. We’re Matching $500,000 in Charitable Giving
In partnership with the amazing team at Shift4, we’re putting our money where our mouth is. On Crypto Giving Tuesday and throughout the month of December, we’re matching the generosity of donors who give crypto, stock or Donor-Advised Fund grants to charities on The Giving Block.
It all begins on Crypto Giving Tuesday where the first 100 charities to raise $1,000 or more in crypto will each get a $1,000 donation from us! We’re doing the same for stock and DAF as well, so come out and give generously!
3. Keep The Tax Deadlines Top of Mind!
Every year, we have donors who procrastinate and struggle to make their donation in time to qualify for the tax year. Here are two key tips:
- Get your stock donations in before December 19th to ensure that these gifts qualify for tax deductions and capital gains tax relief.
- Crypto donations can be made up until the buzzer, but work to get them in earlier to ensure you make that incredible impact without getting slapped with a big surprise tax bill.
For donors, nonprofits and everyone else doing amazing things at this intersection of Web3 and the impact sector, thank you as always for making The Giving Block the home of Crypto Philanthropy.
We hope you’ll give crypto, stock and DAF grants generously, and that you’ll use our team as a resource whenever you have questions or need a partner to make a great fundraiser happen. Whether it’s a virtual event, an NFT drop or an article to highlight an amazing cause, our team is standing by ready to make magic happen this year end.
Feeling inspired? Here’s how to be a part of the impact:
Let’s welcome back the bull market with a bang!
Pat Duffy & Alex Wilson
Co-Founders, The Giving Block
FAQ: 2023 Giving Season Donation Match
Are there matching funds available for donations?
Yes, we have up to $500,000 in matching funds available for donations made to eligible nonprofits during the Giving Season. This match has been made possible by Jared Isaacman, CEO of Shift4.
When is Giving Season, as defined by this donation match offer?
For the purpose of this offer, Giving Season is defined as the period of time from 12:01 AM US Eastern Time on Tuesday, November 28, 2023 through 11:59 PM US Eastern Time on December 31, 2023.
How does the donation match work?
Eligible donations made via The Giving Block platform during Giving Season to an eligible nonprofit will be subject to the matching offers, up to $500,000 distributed in total, subject to the terms outlined in the terms and conditions. Click here to read the complete terms and conditions.