The Giving Block Kicks Off Impact Week with $700K in Crypto and Stock Donation Matches

by | Dec 12, 2022

UPDATE: As of December 27, 2022 the $500K flash match funds have been met. There are still funds available for donations over $100K under the 10% boost. Please read FAQ at the end of this page.

We’re kicking off Impact Week 2022 with a series of “flash matches” to support the thousands of charitable organizations on our platform working toward  their end of year fundraising goals. This year has been an unquestionably challenging time for nonprofits, and as they have shown us their unwavering commitment to bettering our world, we wanted to take this opportunity to support them in return and help ignite our community’s signature generosity.

Starting today, we will be matching $500K in crypto and stock donations made directly to nonprofits on our platform through the end of the year. We’re also matching 10% of all individual major crypto and stock donations over $100K ($200K in matching funds available).

With Bag Season underway, we’re excited to show the world the impact that our community can make!

What is Impact Week?

Impact Week is when we highlight the real-world impact of crypto philanthropy, showcasing the individuals, companies and crypto-friendly nonprofit organizations that have made crypto the most powerful force for good on the planet.

At the core of our community’s values is the desire to develop new ideas that will empower people around the world to gain financial freedom and ultimately lead better lives. The news cycles can write as many negative stories as they want about crypto, but those stories will never deter us—the countless people, projects and companies that continue building the future of Web3, and show a genuine passion for making an impact through charitable giving. From providing children with food, shelter and education, to funding life saving medical research, this Impact Week we’ll be highlighting the extraordinary crypto heroes among us.

What do we have in store this year? 

This year’s Impact Week is bigger than ever, with daily celebrations to honor the nonprofits and crypto heroes who have made a difference this year. Each day will focus on different cause areas, and will highlight how crypto has made an impact in these critical philanthropic categories. 

Donors wishing to support one of these major causes can make a donation to one of The Giving Block’s Impact Index Funds. Donations to these funds, which bundle together multiple charities with cause-aligned missions, are distributed evenly among participating nonprofit organizations. Right now, donations to these Impact Index Funds are also being matched through the end of the year.

Become a crypto hero by giving during our $500K Crypto & Stock Donation Flash Match

Beginning today, we’ll be matching $500K in crypto and stock donations made directly to nonprofits through The Giving Block. This 1:1 match is first come first served and will be available through December 31st or until all matching funds have been issued. To help ensure more nonprofits get to split the match pool, there is a $5K cap per nonprofit. To learn more about this flash match offer, check out the FAQ here

How does the Major Crypto & Stock Gift 10% Match Boost work?

We’ll be matching 10% on all individual major crypto and stock gifts over $100K. We have $200K in match funds available for this match, which are first come first served. This match is available beginning today and will run through the end of the year, or until the matching funds have been issued. To learn more about this match boost offer, check out the FAQ here.

How to donate

To donate through The Giving Block go to thegivingblock.com/donate.

FAQ

How does the $500K Crypto and Stock Flash Match and the Major Gift 10% Boost Work?

Each cryptocurrency and stock donation made via The Giving Block (“TGB”) platform during the Campaign Period to an Eligible Non-profit will be matched by Jared Isaacman (individually or through a foundation set up for the purposes of making such donations) (“Foundation”) up to $500,000 (the “$500K Year End Match” or “Match”).

Additionally, each cryptocurrency and stock donation over $100,000 in value made via the TGB platform during the Campaign Period to an Eligible Non-profit will be matched by the Foundation by 10% of the value of the donation (the “Boost”).

The Match and Boost will each be made on a first come first served basis. The Match will provide up to $500,000 total (capped at $5k per Eligible Non-profit) and the Boost will provide up to $200,000 total (no cap per Eligible Non-profit!). The Match and Boost funds will be distributed after the Campaign Period to each Eligible Non-profit.

Is there a limit to the Match and Boost for each Eligible Non-profit?

For the Match, each Eligible Non-profit will be eligible to receive up to a maximum of $5,000 during the Campaign Period, to allow a wider range of non-profits to benefit from the Match. For the Boost, there is no limit per Eligible Non-profit.

Can the same Eligible Non-profit receive both the Match and the Boost?

Yes – we allow double-dipping! Let’s use some examples*

Example 1: if an Eligible Non-profit receives a donation in crypto or stocks worth $5k during the Campaign Period, then the entire $5k would be eligible for the 1:1 Match, and the Boost would not apply, since the donation does not exceed $100k in value. The Eligible Non-profit would receive a total original donation and Match combined amount of $10k.

Example 2: if an Eligible Non-profit receives a donation in crypto or stocks worth $200,000 during the Campaign Period, then the first $5k would be eligible for the 1:1 Match (capped at $5k), and the $200k total donation amount would be eligible for a 10% Boost ($20k). The Eligible Non-profit would receive a total donation, Match and Boost combined amount of $225,000.

*Examples are provided for the sake of simplified illustration only and do not include any TGB transaction fees (which will apply). They also assume that the Match and Boost total and per-org limits have not been used up through other donations.

Which non-profits are eligible to receive the Match and Boost?

“Eligible Non-profit” means any non-profit TGB subscription customer that is:

  1. enrolled on the TGB platform during the Campaign Period;
  2. in good standing (i.e., no past-due subscription fees); and
  3. either an international non-profit, or a US-based 501(c)(3) public charity or private operating foundation (specifically, excluding private non-operating foundations and 501(c)(4)s due to Renaissance Charitable DAF payout policies).

Donors can find a list of charities on The Giving Block located here.

How long does the Match and Boost last?

During the “Campaign Period”, which is from 12:01 AM US Eastern Time December 12, 2022 through the earlier of the time when the total Match and Boost funds are used up or at 11:59 PM US Eastern Time December 31, 2022. Note that the stock liquidation process can take some time, and the value of the donation, and eligibility for the Match and Boost (i.e., for determining whether limits have been reached) will be determined at the time of the sale of the stock.

When will the Eligible Non-profits get their funds from the Match and Boost?

The Match and Boost funds will be paid out to all Eligible Non-profits after the end of the Campaign Period. We cannot guarantee funds will be paid out in the 2022 calendar year.

How will the Match and Boost funds be distributed to each Eligible Non-Profit?

The Foundation will contribute to the Renaissance Charitable Foundation Donor Advised Fund (“DAF”) which will distribute the proceeds to the charities as set forth above.

Will the Match and Boost funds be paid in cryptocurrency or fiat?

They will likely be paid in fiat by the Foundation and will be converted into a cryptocurrency stablecoin by the DAF in order to be donated to the charities, though the Foundation reserves the right to modify this process as required.

Will pricing fluctuations in market prices change the value of the Match or the Boost?

The value of the contribution will be based upon the USD value of the cryptocurrency at the time of the donation, and of the stock donation at the time of sale. When it comes to cryptocurrency, for example, if a donation of 1 ETH is worth $1,500 at the time of donation and $1,000 at the time the Match and/or Boost is paid out, then the Foundation will donate $1,500 in order to fulfill its obligations under the Match and Boost.

Will credit card donations be eligible for the Match and Boost?

No. Only donations of cryptocurrency and stock will be eligible.

Will the charities be charged any fees for donations?

Yes. TGB, charges standard processing fees on all donations.

What if I (as a donor) want a refund from my donation?

All donations are final and will not be eligible for a refund.

Who can I contact if I have additional questions?

For any inquiries or questions please contact [email protected]

When will I receive a tax receipt for my donation?

As with any donation on the TGB platform, if you provide your email address during the donation process we will send you a tax receipt immediately following your donation on behalf of the charity.

Will the Match or Boost be considered part of my individual donation as a donor?

No. You will only receive credit for the donation made by you.

Will my identity be provided to the charity that I am donating to?

Only if you choose to enter that information. Most nonprofits accept anonymous donations.

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