FundSvcs Community

 View Only

  • 1.  Cryptocurrency

    Posted 03-28-2024 01:33 PM
    Hi everyone,

    I'm trying to find a slide deck or recording of a terrific presentation that John Taylor and colleague did in about 2022 about cryptocurrency. I checked the library at the AASP website and did not find anything. Does anyone know whether there is an available slide deck or recording of that webinar?  We are getting more inquiries about accepting crypto, but are not yet equipped to do so.

    Thanks in advance for any guidance!

    Beth

    ------------------------------------------------------------------------
    Beth L. Colbert, '86 '89
    Associate Vice President, Advancement and Campaign Operations

    University Advancement
    San Jose State University
    One Washington Square
    San Jose, CA 95192-0257
    408.924.1119





  • 2.  RE: Cryptocurrency

    Posted 03-28-2024 01:55 PM
    I am glad the presentation was useful!

    I will dig it up and send it to you when I get back to my office later today!

    BTW, I still find that there are way more inquiries than actual gifts of crypto. The market fluctuates so much it is difficult to hit the right number! Donors often back off after they have spoken to their financial advisors.

    John

    John H. Taylor 
    919.816.5903 (Cell/Text)

    Big Ideas; Small Keyboard





  • 3.  RE: Cryptocurrency

    Posted 03-28-2024 02:04 PM
    Thank you John!

    We have a faculty member who is interested in these types of gifts so we want to do our due diligence.

    Best regards,

    Beth


    ------------------------------------------------------------------------
    Beth L. Colbert, '86 '89
    Associate Vice President, Advancement and Campaign Operations

    University Advancement
    San Jose State University
    One Washington Square
    San Jose, CA 95192-0257
    408.924.1119








    Original Message


  • 4.  RE: Cryptocurrency

    Posted 03-29-2024 09:31 AM

    Hi Beth,

     

    John Taylor, and a wide cast of experts, helped describe the acceptance and processing of cryptocurrency on our aasp Podcast Episode #16. It is worth a listen.

     

     

    There is also a follow up episode where we understand more about the very unique cryptocurrency gift described at the end of Episode 16.

     

     

     

     

    Jay Ballinger, MCS

    Solutions Architect

    Sutter Health Philanthropy

    jay.ballinger@sutterhealth.org

     




    Original Message


  • 5.  RE: Cryptocurrency

    Posted 03-29-2024 12:06 PM
    Thank you Jay!  Much appreciated!

    Beth


    ------------------------------------------------------------------------
    Beth L. Colbert, '86 '89
    Associate Vice President, Advancement and Campaign Operations

    University Advancement
    San Jose State University
    One Washington Square
    San Jose, CA 95192-0257
    408.924.1119








    Original Message


  • 6.  RE: Cryptocurrency

    Posted 03-29-2024 11:48 AM
      |   view attached
    Beth, see the attached for a great primer from McDermott Will & Emery. To accept crypto, we advise performing an assessment and going through all the relevant considerations, including operations, investment and gift acceptance policies, and risk management. Reach out offline if you have any questions, we've helped several organizations with accepting virtual currencies. 


    Thank you,
    Isaac Shalev
    Data Strategy Expert
    Sage70, Inc.
    (917) 859-0151
    isaac@sage70.com

    Schedule a 30-minute consultation now:




    Attachment(s)

    pdf
    Primer on Contributions of virtual currency.pdf   842 KB 1 version


  • 7.  RE: Cryptocurrency

    Posted 04-01-2024 11:11 AM

    Hi!
    My organization was featured in the AASP podcast mentioned by Jay. Happy to talk about how we handled a difficult crypto gift, and what we would have done differently or done the same, and how it's progressing, especially with the current prices. Also - happy to get you in touch with the gift officer or finance team managing the gift, as well. 
    As we learned the ins and outs of Coinbase, specifically, we learned the ins and outs of accepting crypto. Mainly - accepting coins directly from the donor in a commerce account and offloading them immediately (the standard and recommended for processing gifts) and what we did - opening a custody account so that we could hold the cryptocurrency for five years. We have a variety of SOPs, and some are are still process docs. It's been fun.



    ------------------------------
    Hillary Cote
    Fort Lewis College
    hlcote@fortlewis.edu
    ------------------------------



Related Content