SAN DIEGO, Nov. 18, 2021 /PRNewswire/ -- Classy, a giving platform that enables nonprofits to connect supporters with the causes they care about, has partnered with Coinbase Commerce and The San Diego Foundation to launch three Crypto Giving Funds, making it easier for cryptocurrency holders to donate to nonprofits. Donors who wish to make tax-deductible crypto donations can choose from funds that benefit a variety of nonprofits in the food relief, health, and community support sectors.
The cryptocurrency market is now worth over $3 trillion, yet it's estimated that only a few hundred nonprofits are accepting crypto as a donation method. As Classy works to expand the ways nonprofits can tap into new technologies to improve their funding, its Crypto Giving Funds will serve as a way to give nonprofits an easy entry point into the crypto market before Classy launches its own in-house offering next year.
"Nonprofits need to build relationships within the crypto community, which is full of young philanthropists looking for ways to make a difference," says Chris Himes, Classy's CEO. "Crypto is the first form of money that's ever existed entirely online, and it needs to play a more prominent role in funding social and environmental progress. The tax advantages of donating an appreciated asset can be tremendous, so connecting the crypto community with the social sector is a high priority for Classy."
Donors can choose to give to a fund managed by The San Diego Foundation that benefits a variety of impactful organizations in three categories:
- Food Relief: Benefits World Central Kitchen, Feeding San Diego, Greater Boston Food Bank, Greater Chicago Food Depository, and Oregon Food Bank.
- Hospitals and Health: Benefits CDC Foundation, City of Hope, Cleveland Clinic, HFC, and Shriners Hospitals for Children.
- Community Support: Benefits Pencils of Promise, Team Rubicon, The Salvation Army, and Museum of Science.
To make a donation in cryptocurrency to one of the cause-specific funds, visit https://www.classy.org/crypto-donations/. To read more about the tax benefits of cryptocurrency donations, visit the Classy blog.
Classy is a B Corp Certified Public Benefit Corporation and giving platform that enables nonprofits to connect supporters with the causes they care about. Based in San Diego, CA and trusted by thousands of nonprofits, from the fastest-growing nonprofits to some of the world's largest social organizations, Classy's platform provides the formats and flexibility to activate donors when and how they need to by creating more relevant connections to their causes. Since 2011, Classy has helped nonprofits mobilize and empower the world for good by helping them raise over $3 billion on its platform. Classy also hosts the Collaborative conference and the Classy Awards to spotlight the innovative work nonprofits are implementing around the globe. For more information, visit www.classy.org.
About The San Diego Foundation
The San Diego Foundation inspires enduring philanthropy and enables community solutions to improve the quality of life in our region. Our strategic priorities include advancing racial and social justice, fostering equity of opportunity, building resilient communities, and delivering world-class philanthropy to realize our vision of just, equitable and resilient communities. For more than 46 years, The Foundation and its donors have granted more than $1.3 billion to support nonprofit organizations strengthening our community. Learn more at SDFoundation.org.
Contact: Krista Lamp, [email protected]