Cryptocurrency Donations

Jennifer Borri

Are any CRM customers taking cryptocurrency donations? If so, do you have interest in added functionality in CRM to track these donations like stocks to include details around crypto type, # coins donated, crypto conversion to cash info? I don't see anything in the CRM Ideas Portal about this and wanted to gauge interest/need. Thanks!

Leticia Herndon

We are currently working on a project to accept crypto donations. We are very interested in additional CRM functionality. We'll have to come up with a workaround to track and report on the donations, once we are up and going. It would be great to have this functionality sooner rather than later.

Rick Root

While I haven't looked into it, I feel like we would probably treat it like a stock donation.

Jennifer Borri

Thanks Leticia and Rick for your replies. I've added this to the CRM Ideas Portal. Please vote and comment to get this on Blackbaud's radar. Thanks!
https://community.blackbaud.com/products/blackbaudcrm/ideas?_ga=2.235869953.1656445696.1623417314-384907219.1614267296

Jeff Bauer

I'm puttering with various cryptocurrencies as a hobby and find it a fascinating use of technology. I suspect that we would have a few donors that would rather donate some type of crypto coin someday soon. The problem I see is getting our Accounting and Gift Services departments (ours are separate) to trust crypto as a viable, legitimate, and legal way to donate. I've used sites like nicehash.com (mining software), and coinbase.com to both generate, exchange, and cash out to USD various types of cryptocurrencies. So far it's been a legit way to tinker with this technology.

Gregory Dellas

Hi There, I had a brief look at the Gift in Kind functionality, and it does seem that it could accommodate crypto currency, with one key item being that the number of units does not permit anything other than a whole number. - Which presents difficulty with some crypto, where ownership occurs in fractions of a whole, for example AU$10,000 would be approx 0.23 bitcoin, and GIK ‘number of units’ wont permit this. - If you update the idea bank to suggest that this field on the GIK Payment Panel permits less that 1 unit and fractions of units (ie not whole numbers) this would likely be a good MVP.

Rob O'Connell

Hi Leticia, have you made any progress on accepting crypto donations?

Monica Hoo

Voted! Had my team vote too. We are also interested in accepting donations on our giving pages with a “Pay with Crypto” option (BB please make it an option!) Following this conversation.

Rick Root

We've implemented a third party widget called “Giving Block”. Giving Block takes the crypto, converts it to cash, and sends us the cash. They also receipt the donor (showing our information on the confirmation email) but as of know we have to manually enter the gifts into CRM. Giving Block also doesn't currently have any mechanism that I can find for letting the donor tell us how they want the g ift designationed, so we put a mailto form on the confirmation page asking them to email us. If they don't we have to reach out to them.

I was our first Crypto donor at UNC

Miriam Davenport

We're considering using “Giving Block” - how has your experience been?

Chris Geady

We're considering implementing using a third party who will convert into cash and send us the cash. Then we'll just enter the gift into the database. Currently volume isn't super high, at least not yet.

Monica Hoo

@Rick Root Same. We are treating it like a wire transfer. We are using FTX and are just about ready to push to production.

Question-related to Giving Block, do they have a test environment? What do you think of their customer service?

Monica Hoo

@Rick Root Also, does Giving Block have a transaction minimum and an account minimum before they convert to cash for download into CRM? Thank you for your heads up on the intake form. We created an intake form to capture bio information that comes over with the crypto gift. into the batch.