You probably see cryptocurrencies like Bitcoin, Ethereum and Dogecoin popping up on social media trends and news headlines every day. Some are more established and widely marketable than others, but people are increasingly buying and holding cryptocurrencies for fun, for investment purposes or as a hedge against inflation. But what is it anyway? A recent Journal of Accountancy article defined it as “a digital medium of exchange that can be used for purchasing, selling and storing value, but it is not backed by a sovereign government.”
The good news is nonprofit organizations do not have to understand all the theory and technology behind cryptocurrency to gain the potential benefits of accepting this form of appreciated property as a donation.
One evening in early December I got a text from a friend (who is a County Commissioner) that there was a mob of armed protesters outside her house. Her 12-year-old son was home alone at the time. He called her while she was at a Health District meeting that would determine whether our county would issue a mask mandate. Can you imagine how afraid he must’ve been?
Earlier this week, MacKenzie Scott announced that she had given more than $4 billion to 384 organizations around the country. Some of our clients were fortunate enough to receive one of those gifts. As we read Ms. Scott’s Medium post and learned more about the organizations chosen by her and her team, we realized there are many lessons to be learned from this generous act.
Like all of us, I was stunned and saddened by the news out of Paris Friday night. Coming shortly on the heels of a similar attack in Beirut just hours before, the on-going refugee migration, and violence throughout the world and in our own country, it’s easy to be overwhelmed.