SF-Based Crypto Foundation and Jewish Philanthropy Launch Partnership to Expand Crypto Giving
Endaoment and the Jewish Community Federation and Endowment Fund seek to harness untapped capital for good by bringing the DAF philanthropic vehicle to the cryptocurrency community
San Francisco, CA – Endaoment, a nonprofit community foundation that has developed software to enable cryptocurrency holders to convert their crypto into USD grants for charities, announced a new partnership with the San Francisco-based Jewish Community Federation and Endowment Fund on Wednesday. Together, they have successfully demonstrated how Endaoment’s pioneering Donor-Advised Fund (DAF) management technology can lower operational costs and drive new capital into the world of philanthropy.
Endaoment's web application recreates the conditions of a DAF using digital "smart contracts" housed on the popular Ethereum blockchain. Endaoment’s DAF is now one of the lowest-cost, lowest minimum donation Donor-Advised Fund in the country.
“The world of charitable giving is ripe for new, inclusive technology-based solutions,” said Endaoment Founder and CEO Robbie Heeger. “Our work with the Federation demonstrates our ability to improve grant delivery technology for charitable organizations and build a bridge between the philanthropic community and the new crypto asset class.”
How Endaoment works:
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Donors provide basic info about themselves and Endaoment creates a custom on-chain donor-advised fund in seconds.
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Donors contribute cryptocurrency tokens to their fund and Endaoment converts them into dollars.
- Donors use the proceeds from their donations to make grant recommendations to nearly any nonprofit organization in the United States.
“We are thrilled to launch this partnership with Endaoment, and hope that by expanding the kinds of assets people can give that more assets will go into the community and make a difference,” said Federation Chief Philanthropy Officer Joy Sisisky. “We prioritize innovation because it can encourage a new generation of philanthropists to get involved in giving and in healing the world, which reflects the Jewish values that guide our organization’s work.”
One of the Federation’s strategic goals is to “promote more and better Jewish philanthropy,” which is philanthropy guided by the Jewish values of building community (kehillah), giving with just intention (tzedakah), pursuing justice (tzedek), and healing the world (tikkun olam). They seek to bring philanthropists and organizations together to create innovative ways to use philanthropic capital for more good.
The Federation partnered with Endaoment to help achieve this goal in a way that benefits the entire philanthropic sector – helping more DAFs be able to accept donations of cryptocurrency from DAF holders so that more assets are available for giving and for making a difference.
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The Jewish Community Federation and Endowment Fund connects people of all ages, backgrounds, and perspectives to the power of the Jewish community to improve the world. We partner with donors, organizations, and foundations to address pressing issues facing our community, and develop innovative strategies that result in deep and lasting impact locally, in Israel, and around the world. Learn more at www.jewishfed.org.
About Endaoment:
Endaoment is a California Public Benefit Corporation based in San Francisco, federally tax-exempt under Internal Revenue Code section 501(c)(3), serving as the decentralized finance industry’s Community Foundation. It provides Donor-Advised Funds through its web-application and will also steward a Community Endowment Fund powered by a Decentralized Autonomous Organization (DAO). By creating a robust Community Foundation entity for the DeFi industry, Endaoment hopes to encourage the charitable giving of cryptocurrencies and the adoption of cryptocurrency technologies by nonprofit organizations. For more information visit https://docs.endaoment.org/governance.
