Ren, North America's leading independent philanthropic solutions provider, and The Giving Block, the leading Crypto Philanthropy platform connecting nonprofits with crypto donors, have announced the launch of one of the country's first donor-advised funds, which will let donors invest a portion of their cryptocurrency donations.
At Consensus 2022, the largest and longest-running crypto festival in the world, which took place June 9–12 at the Austin Convention Center in Austin, Texas, booth #529 promoted general availability.
Until now, bitcoin could be received by donor-advised funds, which are giving accounts where contributors donate assets and recommend contributions to qualifying charities, but the crypto was liquidated as soon as it arrived. The Giving Block's platform, which allows charities to accept cryptocurrency, is combined with a donor-advised fund through Renaissance Charitable Foundation Inc. (RCF), a public charity.
Crypto will play an ever-growing role in the changing philanthropic landscape – and this new donor-advised fund offering, an industry first, stands as a game-changer in the crypto world just as it does for non-profits."
Kelly Palmer, EVP of Strategic Growth Operations at Ren
Kelly further added, "We are honored to work with a fellow driver for good such as The Giving Block to bring an entirely new way to not only leave a legacy but recognize an immediate tax deduction. By investing crypto in a donor-advised fund, you can further organize your philanthropy and even recommend grants anonymously while also giving your heirs the ability to make future grant recommendations."