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@MichelleHuddle , great information.
Our gift acceptance polies allow donations of crypto with the approval of our gift acceptance committee. Like others, we don't want to own it, we want to turn it in to cash. It's important for us to inform donors of how the IRS views crypto. The IRS treats it as tangible personal property. Therefore, if the donation is more than $5,000 they will need a qualified appraisal to substantiate a charitable deduction.
We recently revised our gift acceptance policies to include cryptocurrency and signed up with Engiven. We checked with other cryptocurrency management sites and found Engiven to be the best fit for our foundation. Engiven does not charge anything unless and until the Foundation receives a donation (no annual fee); it is then a 5% fee off the top, they convert it to cash and deposit the money directly into your bank account no matter the time of day. We did not want the hassle of owning and managing our own wallet as we wanted any crypto donations to be immediately converted to cash. Engiven also helps you set up a widget for your website for no additional charge. You can add and close funds on the site to accept donations and it is very user friendly. They have been very helpful to us, and I would absolutely recommend them.
We have a robust professional engagmeent strategy at Parkland Foundation. Professional advisors are so important in connecting their clients to charitable purposes.
I have a council of advisors. We call it the Parkland Foundation Gift Planning Council. Our members includes some of the most higly regarded planners in the area and includes estate planning attorneys, CPAs, wealth managers, trust officers, insurance professionals. Most of our members are also members of the Dallas Estate Planning Council. I have been an active member of that group because of the networking opportunities and was voted to be on the board of governors this year.
Our council members have secured $millions for our hospital from their clients, plus most of them have personally been generous to Parkland.
The council meets quarterly. We have a speaker from the hospital system that talks about some line of service that is a fund raising priority for our foundation. The group is highly engaged and asks great questions. They walk away motivited and moved by what they learned. The council has been a pathway to board leadership as well. Some of our most committed and generous board members started their journey with us on the council.
That of course did not happen over night. We started by cultivating relationships. Meeting and talking with people at the estate planning council meetings. Getting introductions to other planners from current contacts - I would ask peolple who else I should know. In a first meeting, which is clearly meat and greet, I introduce them to what we do and talk about their practice.
In one first meeting with an attorney I discovered that two of her clients had included Parkland in thier estate plans. They wished to remain anoyomous. We added them as anonymous members of our legacy society.
Having the conversation with advisors about how they include philanthropy in their client conversations can be insightful.
Hope that helps. Please reach out if you would like to explore further.
Follow us on Facebook and find out!! https://www.facebook.com/MontanaArtsCouncil
But seriously.... I think you have to build slowly and be consistent and relentless. Besides facebook, our two greatest marketing techniques are eblasts (we are a government agency so use eGov Delivery) and targeted word of mouth.
To have eblasts work you have to make sure the right message is getting to the right people.... so that requires a lot of thought in designing the sign up options and developing the targeted lists. And you have to market the opportunity to sign up for the lists at other times when you aren't advertising a specific grant. You know what I mean? We are trying to figure this part out.
And targeted word of mouth.... still the best. So, for example, we might send an email/eblast to our council members and ask them to share/repost on facebook or to pass the info along to eligible applicants in their communities. Or send an artist opportunity to museums around the state and ask them to share with their constituency.
@MeredithEdwards we are currently on FB, Instagram and LinkedIn.
We avoided displacement by paying the students directly, mailing checks in their name only to their current address, not the school. We let them know if they use it to pay for tuition, fees, books, supplies, and equipment at a legit school, it's tax-free (https://www.irs.gov/taxtopics/tc421). But they have the choice to spend it on room/board, travel to school, etc. knowing that would likely be taxable. We switched 3 years ago, so far so good.
After 15 years primarily writing private foundation grants, I got a new job working at a university. It was a bit intimidating to move to federal grants. The first proposal I helped write resulted in a 6 million dollar award! I feel like I have gotten my feet wet but I still find myself befuddled by how different one department's approach is so different than another department's approach (e.g,, NIH vs. NSF Vs. ED vs. HRSA etc.). I'm so grateful for forums like this one where I can learn from other grant professionals!