Accepting crypto and stock donations is made easy with the powerful new Donorbox and The Giving Block integration. Nonprofits in the U.S. that are Donorbox Pro or Premium users can now quickly enable these donation options on their Donorbox donation form! This guide will help you get started with detailed steps, FAQs, and more. Keep reading!
Diversifying your donation sources with more options than just cards and digital wallets helps you target more donor segments and increase fundraising revenue. Donorbox makes it possible – and simple – with our powerful partnership with The Giving Block.
Donorbox Pro and Premium users in the U.S. can easily enable cryptocurrency and stock donations on their Donorbox giving forms.
Crypto and stock donations help nonprofits receive significant financial support for their important missions. These modern donation sources also open up excellent opportunities for you to target new demographics in the community.
In this article, we’ll discuss the Donorbox and The Giving Block integration, how it works, the steps to enable crypto and stock donations on Donorbox, how donors will make gifts of crypto and stock via Donorbox, and more. First, let us see some benefits of these donation methods.
The 2023 Annual Report on Crypto philanthropy says that – in 2022 – donations made via cryptocurrency crossed 125 million dollars on The Giving Block. Moreover, the average crypto donation size using the solution is around $6,423 and nonprofits that participate in The Giving Block’s Crypto campaigns raise an average of $26,000 per year.
That’s huge! Your organization and its mission could benefit from gifts of this size if you make it easy for people to give crypto and stock donations. Some other benefits of including crypto and stock giving options on your donation form include:
Crypto and stock donations are here to stay and will bring in more benefits for nonprofits in the days to come.
Donorbox partners with The Giving Block to help organizations based in the US add crypto and stock donation options to their Donorbox donation form. The Giving Block is a leading crypto and stock giving solution for nonprofits, helping make donations in cryptocurrency and stocks easier than ever before.
Sign Up to Accept Crypto & Stock Donations!
To get started, sign up for our Pro or Premium plan and then activate crypto and stock donations on your Donorbox giving form.
When donors access your donation form (either embedded on your website or included in the Donorbox-hosted donation page), they can choose from “Standard Donation” or “Crypto or Stock”. When they click “Crypto or Stock”, The Giving Block’s crypto and stock donation form will pop up. Donors then complete the donation by inputting the required information or by scanning or copying a QR code in case of crypto donations.
Stock donations go to the Wells Fargo account of Renaissance Charitable Donor Advised Fund. Brokers take about five to 10 business days to process these requests. Donors receive a receipt once the shares have been liquidated.
Cryptocurrency donations go to Renaissance Charitable’s wallet. Once confirmed on Blockchain, these crypto donations are immediately liquidated for cash and nonprofits receive the amount.
Donors receive their receipts from Renaissance Charitable Foundation, Inc. when their gift is fully processed.
Nonprofits will receive their crypto and stock donations on a monthly basis from Renaissance Charitable, the sponsoring charity for crypto and stock donations made via this integration.
Organizations will receive one check for crypto and one check for stock donations. The checks will show a date range in which the donations were received. For example, “5/1/23 – 5/31/23 crypto donations via Donorbox” or “5/1/23 – 5/31/23 stock donations via Donorbox”.
Nonprofits will also get automated notifications from Donorbox whenever crypto and stock donations are made.
Please note that you must receive a minimum of $50 in crypto or stock donations in a month to be eligible to receive a check. If you don’t meet this criterion, you will receive your check later when your donations have reached $50.
This Donorbox integration is only available to U.S. nonprofit organizations with a verified EIN. To be able to activate crypto and stock donations, you’ll need to add your logo, EIN, and address to Donorbox.
Your crypto and stock donations will be charged a processing fee of 3.95% by The Giving Block.
Rest assured it is one of the lowest fees in the market – we want to ensure organizations get to make the most of their crucial donations!
Accepting crypto and stock donations with Donorbox’s integration with The Giving Block is completely hassle-free. Here are the steps you need to follow to get started right away!
If you’re new to Donorbox, go to our Pricing page on the website to sign up for Donorbox Pro or book a demo for Donorbox Premium.
If you’re an existing Donorbox user, you can upgrade to Pro by going to your Account Settings on Donorbox. You can upgrade to Premium by filling out the Inquiry Form for the same.
Sign Up for Donorbox Pro or Premium!
If you’re an existing Donorbox user, you likely have a campaign on the platform already. You can use them to activate crypto and stock donations.
If you want to create a new campaign, follow our simple step-by-step guide to get started right away. You can also check out our video tutorial for help.
On your campaign dashboard, click “Edit Campaign” in the top right corner. You’ll see options to customize your donation form and donation page.
Click the “Edit Form” button next to “Donation Form”.
Next, activate “Crypto and stock donations” by toggling the switch, as shown below. It will be available on the “Amounts” screen of the form editor.
Please note that you must add your logo, the organization’s EIN, and your address to be able to activate this option on your donation form. These details will be passed on to The Giving Block so that they can successfully process donations.
Activate Crypto & Stock Donations on Donorbox!
Now click “Update” and save the changes.
That’s it! Crypto and stock donations are now activated for your Donorbox donation form.
As donors access your newly customized donation form (on your website or your Donorbox-hosted donation page), they’ll see two options to donate – “Standard Donation” and “Crypto or Stock”.
To make a crypto or a stock donation, they’ll click “Crypto or Stock”. As they do so, they’ll see a “Next” button that will take them to The Giving Block’s pop-up giving form.
Donors then complete their crypto or stock donation on this form by following the simple steps provided.
Empower Donors to Make Crypto & Stock Donations
Donors select their crypto type and enter the donation amount.
Next, they have the choice to donate anonymously or input their personal information.
If a donor chooses to donate anonymously, they are asked if they want a receipt for tax benefits. Their contact email is only used to send this receipt.
Finally, donors receive a QR code and a hex code. They either scan the QR code or copy the hex code to donate cryptocurrency from the crypto wallet of their choice.
The cryptocurrency donation will go to Renaissance Charitable’s wallet after the donation is made. Once confirmed on Blockchain, the crypto donation will be immediately liquidated for cash and your nonprofit will receive the amount.
To make a gift of stock, donors select their Stock Ticker Symbol and Stock Name before inputting their share quantity.
The equivalent dollar value is shown to the donor – the minimum dollar value for stock donations through this integration is $500.
Next, they provide personal information such as name, email, phone number, and address.
Finally, donors input broker information to complete the donation.
The stock donation will go to the Wells Fargo account of Renaissance Charitable Donor Advised Fund. Brokers will take about five to 10 business days to process the request. Once the shares are liquidated, your nonprofit will receive the donation amount.
Donors receive an automated email receipt from The Giving Block when they make a crypto donation. They receive a receipt email from The Giving Block for stock donations only after the shares have been received and liquidated at Renaissance Charitable.
Here’s what the stock donation receipt will look like for your donor –
Nonprofits receive email notifications from Donorbox whenever crypto and stock donations are made.
Organizations then receive mailed checks for their donations on a monthly basis. There will be one check sent for crypto donations and one check for stock donations. Here’s an example of a letter including a check for crypto donations –
Get Started with Crypto & Stock Donations on Donorbox
Crypto and stock donations can significantly elevate your nonprofit’s fundraising efforts and help reach a new demographic of supporters. These modern ways to accept donations are here to stay and will only evolve to be even more effective in the future.
What are you waiting for? Get started with the powerful Donorbox and The Giving Block integration today and add crypto and stock giving options to your donation form. In just three simple steps, you’ll be able to diversify your giving experience and bring in more supporters.
Sign up for Donorbox now and take a look at our Pro and Premium plans to access crypto and stock giving options along with several other exclusive add-ons and benefits.
To explore more guides and insightful articles on nonprofit fundraising, check out the rest of our Nonprofit Blog. Subscribe to our newsletter to receive a handpicked collection of Donorbox’s best resources in your inbox every month.
Crypto and stock donations will be processed via Renaissance Charitable (REN), the sponsoring charity for donor-advised fund programs, and will come to nonprofits through them. Nonprofits will receive checks for these donations.
REN will send checks for your crypto and stock donations on a monthly basis. There will be one check for crypto donations and one check for stock donations.
There is a minimum donation amount of $50 required every month for REN to distribute checks. If your organization doesn’t meet this criterion in a particular month, you’ll be sent a check later when your donation amount has reached $50.
On the check, there will be a purpose line statement that includes the date range of donations included. For example, “5/1/23 – 5/31/23 crypto donations via Donorbox” or “5/1/23 – 5/31/23 stock donations via Donorbox”.
Along with the check, you will also receive a grant letter from Renaissance Charitable with the same purpose line included.
Currently, you can only receive your payments via check. However, The Giving Block is actively working on a way to set up ACH payments for crypto and stock donations. You’ll be notified when this option is available.
Yes. Your donors will receive automated receipt emails after they’ve made a crypto donation. They will also receive receipt emails for their stock donations, but only when the shares have been received and liquidated at Renaissance Charitable (REN).
Because REN is the sponsoring charity for both crypto and stock donations made through Donorbox, their information will be listed on the receipt your donor receives.
The donation processing fee for crypto and stock donations is 3.95%, charged by The Giving Block. The only charge from Donorbox will be your subscription to your Pro or Premium Plan.
Chirasree Bose is the Content Editor at Donorbox. Apart from editing and writing, what holds her interest the most is reading books. Chirasree loves to explore the world of fiction and has authored some books herself. Connect with her on Facebook, Instagram, LinkedIn, and Twitter.
Subscribe to our e-newsletter to receive the latest blogs, news, and more in your inbox.
Chirasree Bose