Elsewhere online
April 13, 2015

Big Charities Court Young Donors With Bitcoin Fundraising

Seeking a foothold with younger, digitally minded donors, more major nonprofits are accepting gifts in Bitcoin and promoting their friendliness with the virtual currency, The Wall Street Journal writes as part of a set of "Journal Reports" stories on philanthropy. The article focuses on Save the Children, which has joined global groups like the Red Cross and Greenpeace in taking part in Bitcoin-giving efforts, using processing firms such as BitPay to reduce transaction costs and insulate themselves form the virtual money's volatility.

Save the Children has raised about $10,000 in Bitcoin since 2013 — a fraction of its overall fundraising, which runs into the hundreds of millions annually, but "$10,000 more than what we had before," said Ettore Rossetti, the relief charity's director of social media and digital marketing. "We don’t only want to be your grandmother's charity, we want to be your grandchild’s charity. One way to do that is to accept Bitcoin," Mr. Rossetti said.

Other pieces in the Journal package offer advice on sustaining family foundations from generation to generation and run down common donor errors and misconceptions that can result in gifts that do more than harm than good.

Read a Chronicle of Philanthropy article on emerging success stories in Bitcoin giving.