Cryptocurrency: A New Way to Give
After a lot of hard work, research, and discussion of organizational values, it’s with great excitement that Minnetrista integrates cryptocurrency, or “digital asset,” donation into its philanthropic giving program.
Admittedly, there’s a curious juxtaposition between the technology-forward nature of cryptocurrency markets as compared with the historic Ball mansions, museum exhibits, and lush gardens of Minnetrista. However, our decision to begin accepting donations of digital assets is based on our desire to adjust to changing tides within the communities we serve and the endeavor’s strong alignment with our core values.
According to a study published by JP Morgan Chase & Co, roughly 15% of US households have traded in cryptocurrency as of mid-2022. Of that 15%, a high percentage fall within the millennial age demographic. As markets and economies have evolved in the wake of a maturing millennial generation, Minnetrista believes the best method of serving younger members of our communities is to meet them on their own terms. Crypto / digital asset markets will continue to grow and develop, and market participants in our community will also continue to increase. In light of these beliefs, we have prioritized establishing and developing a crypto-giving program. This will enable us to better connect with these folks while offering them easy, tax-beneficial ways to invest in the cultural richness of their very own community.
In addition, the decision to integrate cryptocurrency / digital asset donation into our philanthropic giving program is driven by our core values: Learning, Adaptability, and Entrepreneurship. Bitcoin and cryptocurrency have been described as the first new asset class we’ve seen in over 150 years, and as such, there is so much to learn on a day-to-day basis regarding the growth of the financial assets themselves, the business models developing around these assets, NFTs as an artistic medium, evolving use cases, and more. Whether we view these assets and the entrepreneurs behind their blockchain-based businesses as net-positive or -negative, or whether they are of interest to us individually, the fact remains that these developments are beginning to affect our day-to-day lives in ever-increasing ways. It is our responsibility as an organization to learn everything we can, to adapt to this shifting landscape as necessary, and to serve and celebrate the entrepreneurs within our community who may be building or investing in the crypto environment.
Branching into cryptocurrency donation may feel unusual or a very nontraditional method of giving, but it is a rapidly growing part of giving plans for nonprofits. Nonprofit resource organizations like iWave, Direct Marketing Fundraisers Association (DMFA), and even Indiana University’s Fund Raising School have begun focusing on this new method. While we certainly are not reinventing the wheel here, it is important to us that we stay on top of cutting-edge tools that allow us to better serve our community.
For more information on Minnetrista’s cryptocurrency / digital currency giving program, feel free to reach out to Nick at nfatout@minnetrista.net. To make a gift of cryptocurrency, or to share a link and help us spread the word, please visit Give to Minnetrista Cultural Foundation, Inc. | Powered by Engiven
