Blackbaud Revolutionizes Charitable Giving with Crypto Donations

Blackbaud Introduces Cryptocurrency Donations for Nonprofits

In a significant advancement for charitable organizations, Blackbaud (NASDAQ: BLKB), a leading provider of software designed to facilitate social impact, has made it possible for numerous U.S. nonprofits to receive cryptocurrency donations through its JustGiving platform. This innovative approach opens up new avenues for fundraising, enabling charities to reach a broader audience of tech-savvy donors.

The Growth of Cryptocurrency in Charity

With the rise of cryptocurrencies in recent years, Blackbaud is committed to delivering the latest in payment technology. Jerry Needel, chief of product innovation, expressed that the integration of cryptocurrency donations is vital for nonprofits to remain competitive in the modern fundraising landscape. By fostering this advancement, Blackbaud is creating value for both the donors and the charities.

Seamless Integration and Operation

JustGiving's fundraising pages have included cryptocurrency donations since their launch in the U.K., and now this feature extends to U.S. charity pages enabled by the Donor-Advised Fund (DAF), allowing numerous organizations to easily accept this form of contribution alongside traditional giving.

Collaboration with The Giving Block

To execute this exciting development, Blackbaud has partnered with The Giving Block, a recognized leader in facilitating cryptocurrency donations. Alex Wilson, co-founder of The Giving Block, highlighted the importance of tapping into the crypto donor demographic, which numbers around 580 million globally. This partnership aims to simplify the donation process, ensuring that charities can accept cryptocurrencies as smoothly as they would handle any standard online donations.

Understanding the Tax Benefits of Cryptocurrency Donations

In 2024, it's anticipated that over $1 billion in cryptocurrency will be donated to nonprofits. One compelling reason for donors to choose crypto donations is the tax advantages, notably capital gains tax relief. This financial incentive makes it crucial for charities to embrace this modern giving method.

Diverse Cryptocurrency Options Available

Donors using the JustGiving platform can now make contributions in more than 60 different types of cryptocurrency, including prominent coins like Bitcoin, Ethereum, and Tether, as well as meme-inspired tokens. The funds raised in cryptocurrency are automatically converted to U.S. dollars before distribution, alleviating concerns about price volatility for the charitable organizations involved.

Creating a Seamless Giving Experience

Executive Director Matt Nash of The Blackbaud Giving Fund shared his enthusiasm for integrating cryptocurrency into their donation channels, stating that this innovation provides nonprofits with new opportunities for financial support. The process allows donors to gain tax benefits while charities receive instant access to the funds, which can be utilized for various operational and long-term initiatives.

JustGiving's Commitment to Charitable Causes

Since its inception in 2000, JustGiving has enabled the generation of over $9 billion for countless charities and causes. This latest development in cryptocurrency donations represents a forward-thinking approach to fundraising, following their recent enhancements involving AI technologies to aid fundraisers.

Getting Involved with JustGiving

For nonprofits eager to set up cryptocurrency fundraising campaigns, further information is readily available on the JustGiving platform. Individuals looking to contribute to charities can also explore various causes and initiate their fundraising pages easily on JustGiving's user-friendly website.

About JustGiving and Blackbaud

The JustGiving platform has established itself as a trusted name for online giving worldwide. With a mission to assist people in raising funds for the causes they care about, JustGiving has transformed the landscape of fundraising. Following its acquisition by Blackbaud in 2017, which focuses on driving social good through innovation, the collaboration continues to empower charitable giving.

Frequently Asked Questions

What impact does cryptocurrency have on charitable donations?

Cryptocurrency provides new avenues for donating, offering tax incentives and a modern method preferred by many tech-savvy donors.

How many different cryptocurrencies can donors use on JustGiving?

Donors can utilize over 60 different forms of cryptocurrency when making contributions on the JustGiving platform.

What partnerships has Blackbaud established to facilitate this change?

Blackbaud partnered with The Giving Block to streamline the acceptance of cryptocurrency donations for nonprofits.

Is there a conversion process for charitable organizations receiving cryptocurrency?

Yes, funds raised in cryptocurrency are converted to U.S. dollars before distribution to the charities, reducing the risk of price fluctuations.

How can nonprofits get started with JustGiving?

Nonprofits looking to establish fundraising campaigns can find detailed information directly on the JustGiving website.

About The Author

Greetings, I'm 32-year-old author and financial specialist Evelyn Baker. My introduction into the financial industry started with an economics degree and continued with a wealth of experience in wealth management and financial consulting. My great passion over the years has been assisting people and companies in making wise, well-informed decisions to reach their financial objectives.

My goal with writing is to simplify difficult financial ideas into understandable, doable guidance. My goal in writing many books and articles is to make personal finance understandable to everyone, irrespective of their experience or background. I want to give readers the information they need to take charge of their financial futures, from investing and retirement planning to budgeting and saving.

Along with my writing, I lead webinars and workshops where I provide doable advice and methods for achieving financial success. To reach a larger audience, I also frequently contribute to financial blogs and publications. My method is always to offer doable, real-world guidance that can actually improve people's lives.

Aside from my job, I like to cook, travel, and experience other cultures. I work hard to apply my belief in the value of a balanced life to my financial counsel. My goal in working is to encourage and enable people to succeed financially so they may lead the best lives possible.

Contact Evelyn Baker privately here. Or send an email with ATTN: Evelyn Baker as the subject to contact@investorshangout.com.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.