Not-for-profit (NFP) (or nonprofit) organizations are constantly adapting to how donors choose to give. In recent years, cryptocurrency has emerged as a viable and increasingly popular donation vehicle. While not every NFP will receive crypto gifts, proactively deciding whether to accept them and how to handle them, is essential. Updating your gift acceptance policy is the first step toward readiness, transparency and risk management.
Gift acceptance policies serve as a roadmap for staff and board members, outlining the types of donations your organization is prepared to accept and under what conditions. With cryptocurrency becoming more mainstream, many donors view it as an asset comparable to cash or securities. If your policy doesn't address crypto, your organization may face delays or uncertainty when a donor offers such a gift.
By explicitly stating whether you accept cryptocurrency, you eliminate confusion, establish consistency and set expectations with donors. Even if your organization decides not to accept crypto, documenting that decision demonstrates foresight and transparency, qualities that build trust with stakeholders.
Please select this link to read the complete article from OSAP Mission Partner Clark Schaefer Hackett.