Posts from hacking philanthropy

Honu - A CryptoKitty Charity Auction

I am excited by the potential of cryptocurrencies and cryptogoods to change, and hopefully improve, the way we raise funds for charity.

Cryptogoods are particularly interesting as they are scarce and unique digital goods.

AVC community member Arnold Waldstein tipped me off to a really good example of this:

Little Honu (Hawaiian for turtle) is part kitten, part sea turtle. Honu is the first of a lineage of CryptoKittens ‘hatched’ to both raise funds and be ambassadors for their causes and to be bought, sold, and bred within the game itself.

Honu will be auctioned to raise funds for charity. The auction starts today, on Monday the 9th, ends Sunday the 15th.

Auction proceeds go directly to two sea turtle conservation projects in the Caribbean: Operation Jairo and Unite BVI.

Previous CryptoKitty charity auctions have raised in excess of $140K.  Donations are tax exempt for the winner if a US citizen.

This is part of a pilot for CryptoKitties, tied to their KittyVerse partner program and their Kitties-for-Good initiative.

CryptoKitties teamed up with Bill Tai and his ACTAI community of activists, athletes and investors, and Ocean Elders, a conservation group headed up by Sir Richard Branson, Jane Goodall and others to make this happen.

And Arnold is the quarterback of this initiative, creating and orchestrating a mashup of traditional, web, crypto and event-based grassroots marketing and partnerships.  It’s a first step in a broader project he is developing with Bill Tai to bring together incentivized communities through unique cryptoassets into a larger framework for non-profit projects everywhere.

I just bid on Honu and am currently the leading bidder, which I expect won’t last for long.

#crypto#hacking philanthropy

GiveCrypto.Org

Yesterday, Brian Armstrong, the founder and CEO of our portfolio company Coinbase, announced the formation of a new non-profit called GiveCrypto.org.

Joanne and I are donating some of our Bitcoin to this charitable effort. Here is a list of the donors who have committed to give away some of their crypto assets to this effort.

So what is GiveCrypto.org all about?

Well it is basically an effort to take some of the crypto assets that folks like me bought a long time ago, that have appreciated a lot, and use them to address poverty around the world.

As Brian wrote in the announcement:

GiveCrypto.org is a nonprofit that will both hold and distribute crypto to those in need. It’s an evergreen structure, meaning it gives away less than the amount that the fund grows each year.

and

Cryptocurrency is unique in that it can be used to send small amounts of money anywhere in the world, in real-time directly to an individual in need — they just need a mobile device with an internet connection. With distribution of aid to foreign countries, high fees and corruption are unfortunately common; cryptocurrency is a way of circumventing both.

and

I believe three things will happen:

  • Cashout to local currency: Some will exchange it to their local currency to buy what they need most in that moment. This is a great outcome because our primarily goal is simply to help people in need. We’ll need to help people find and connect with local exchanges to make this easier.
  • Hold: The second thing they might do is hold onto the cryptocurrency. In this case they start to benefit from the future potential upside of this technology.
  • Crypto-to-crypto transfers: Finally, if there is enough density in certain regions, we may be able to spark local crypto economies, where people start to transact with crypto-to-crypto payments, especially in places around the world going through financial crisis.

If you would like to learn more about this effort, you can do that here.

If you would like to give some of your crypto to this organization, you can do so here.

#crypto#hacking philanthropy

Giving Publicly Traded Stock To Charity

One of the best things about having highly appreciated publicly traded stock is that it is the most attractive way to make charitable gifts.

The Gotham Gal and I do this all of the time and I encourage others (founders, early employees, investors, angels, etc) to do it.

Here’s how it works:

Let’s say you have shares of Facebook that you got when you joined back in 2006.

Let’s say that your exercise price was $3/share and that is your cost basis.

Let’s say you want to make a $100,000 gift to a great cause that you are deeply involved with.

Instead of taking out your checkbook (who does that anymore?) and writing a $100,000 check, consider gifting some Facebook shares.

At $175/share, a $100,000 gift would be 571 shares.

So you ask the charity if you can gift shares. Almost every time I do that, the answer is yes. They give you a brokerage account that you can “DTC” the shares to.

And you instruct your brokerage firm to move the 571 shares to the charity’s brokerage account and you have made a $100,000 gift.

But, because you no longer have to pay the capital gains taxes on those shares when you sell them, and neither does the charity, you have a much more tax efficient gift.

I figure that a stock gift costs about 10-20% of the dollar value of the gift if you live in a high tax location like NYC.

Here is how I get to that math, using NYC tax rates:

$100,000 gift

less $50,000 for the tax benefit of the charitable gift deduction

less $38,000 for the capital gains taxes that do not have to be paid on the stock

equals $12,000

So if you have highly appreciated publicly traded stock and are interested in giving to good causes, consider gifting stock instead of cash.

It is a great way to be generous.

#hacking philanthropy

Funding Friday: Hurricane Harvey

The monthly match gang has been discussing doing a match campaign to help victims of Hurricane Harvey.

We are particularly interested in helping recent immigrants who are in need of relief.

We have not yet identified the right organization to support given where we want to focus but we hope to have one shortly.

In the interim, I donated to the GoFundMe Official Hurricane Harvey Relief Campaign.

If you would like to do the same, go here and make a donation.

#hacking philanthropy

Monthly Match Wrap-Up

I woke up Sunday morning in Europe to the news that our monthly match campaign for The Human Utility had crossed the $20k mark and thus our $20k match was fully funded. That was great news but then I saw this tweet from Tiffani, the founder of The Human Utility:

So that means that Jessica Livingston matched our campaign again. Which is incredibly generous but not the least bit surprising if you know Jessica.

So we raised over $60k from 171 different people to help people get the water turned back on in their homes this weekend. It feels great. I appreciate all of the donations from the AVC community that helped us make this happen.

#crowdfunding#hacking philanthropy

Funding Friday: The Human Utility Monthly Match

And we are back with this month’s matching campaign to support a good cause.

We are moving away from the big well known causes to some lesser known but important efforts to help people who need our help.

We are going to start with helping people in need pay their water bills and keep clean water flowing to their homes.

The Human Utility helps almost 1000 families in Detroit and Baltimore pay their water bills and avoid a water shutoff.

We are going to match the first $20k of donations that anyone makes to The Human Utility between now and Sunday night (midnight PST). If we fully utilize this match, we will raise $40k which might get another 100 families their water back. That would be awesome.

To donate and have your contribution matched, go here and hit the big blue Donate button and make sure to tweet out your donation so we can match it.

Let’s get some water flowing again.

#crowdfunding#hacking philanthropy

Earthjustice

We are doing a $40k match offer this weekend for Earthjustice. It was $30k as of yesterday morning, but this tweet changed that number yesterday afternoon:

So we are now matching up to $40k in donations to Earthjustice this weekend. If we fill up the entire match, we will raise $80k for Earthjustice this weekend.

So what is Earthjustice?

It is an organization that pursues legal cases against those who are doing things against the interest of our planet.

Here are some examples:

  1. Earthjustice recently won cases in New Mexico and Nevada in which utility companies were trying to reduce the amount of money they pay consumers for their solar power.
  2. Earthjustice litigation led to the shutdown of the Big Sandy coal plant in Kentucky.
  3. In 2014, Earthjustice helped to secure a landmark Supreme Court ruling that upholds the EPA’s authority to limit carbon pollution.
  4. Earthjustice is currently litigating to halt illegal dumping of oil waste into California’s water supplies.

These are just a small sampling of the legal work that Earthjustice does. You can read more here.

If not Earthjustice, who would file and work on these cases? The interested parties, the polluters, utilities, carbon industry, etc have massive balance sheets that allow them to work the system in their favor. Society needs well funded organizations to fight back for all of us. And that is what Earthjustice does.

Our match offer is good all weekend. If you want to participate, please do so today.

Here is how you can do that:

  1. Go to our EarthMatch page on Crowdrise and give any amount (minimum is $10).
  2. After you complete the donation, tweet your donation out using the blue Tweet button on the post donation page. That will register it for our match.
  3. If you don’t use Twitter, you can forward your email receipt by following the instructions on the post donation page. Tweeting is much better though as it will amplify the campaign.

And please post this match offer [https://www.crowdrise.com/EJMatch] on social media and wherever else you might find people who want to support Earthjustice.

#climate crisis#hacking philanthropy

EarthMatch

It’s time again for our monthly match, our once a month team match offer for a cause that is helping to protect the country and the world from the current administration.

It was hard to pick a cause this month because the administration has done so many awful things recently (executive order rolling back climate change efforts, working to defund Planned Parenthood and Meals On Wheels, etc, etc). But we’ve landed on climate change because our team this month, Susan, Albert, Amy, Brad, Joanne, and me, feel that our planet needs our help right now and we are going to do something for it today. Plus its going to be Earth Day soon. It is April. And this is no April Fools except for the fool in the White House.

Our cause this month is Earth Justice, an organization whose tag line is “the earth needs a good lawyer” and god knows it does now with these carbon lovers running things in the US.

We are putting up a combined $30,000 match ($5k from each of us) to raise money for Earth Justice this weekend.

Here is how it will work:

  1. Go to our EarthMatch page on Crowdrise and give any amount (minimum is $10).
  2. After you complete the donation, tweet your donation out using the blue Tweet button on the post donation page. That will register it for our match.
  3. If you don’t use Twitter, you can forward your email receipt by following the instructions on the post donation page. Tweeting is much better though as it will amplify the campaign.

All of us will be posting and tweeting about this campaign today. Please join us in doing that to get the word out. And please donate to EarthJustice. We will match your donation up to $30k of total donations this weekend.

Let’s go.

#climate crisis#hacking philanthropy