Austin, TX – September 9, 2021 – Upbring, a Texas-based nonprofit working to break the cycle of child abuse, recently announced the expansion of its donation types to include cryptocurrency, effective immediately. Thanks to a partnership with The Giving Block, a company that facilitates tax-exempt cryptocurrency donations for nonprofits, Upbring has responded to the rise of cryptocurrency and entered a new frontier of fundraising by accepting this form of currency including Ethereum, Dogecoin, Bitcoin and more. It is the first nonprofit that specializes in child welfare to partner with The Giving Block to accept cryptocurrency in Texas.
“Systemic change is our driving force and to accomplish that we must be willing to grow and adapt to the changing needs of society. This means thinking long-term and exploring innovative solutions in business like cryptocurrency as it applies to nonprofits,” shared Upbring President and Chief Executive Officer Michael Loo. “Upbring is now poised to expand our donation capabilities, diversify our donor base, increase our revenue streams and improve organizational resilience.”
Donating cryptocurrency is also one of the most tax-efficient ways to support Upbring’s mission. When you give cryptocurrency, you receive a tax deduction for the fair market value of your gift meaning you do not owe capital gains tax on the appreciated amount, and you can deduct it from your taxes.
Upbring’s philosophy when it comes to innovation at large is to be open and accepting of new ideas. It is one of only a few nonprofits in the nation that has an innovation lab dedicated to exploring new solutions and challenge existing modes of thinking to shape better childhoods and secure a future free from the damages of abuse. Some of its pilot projects include wearable biometric technology and digital therapeutics to mitigate the effects of trauma and improve a child’s overall mental health; Geospatial Predictive Data Model designed to identify high-risk places for child maltreatment; blockchain data solutions to optimize foster care’s current disjointed systems; and exploring how nonfungible tokens (NFTs) can help bring awareness and financial support to children who experience abuse.
“The crypto community is incredibly important to creating positive change in the world. We need their help to not only advance our mission but to accomplish breaking the cycle of child abuse,” added Michael. “This is our first step toward providing them the opportunity to make a real impact in the lives of children experiencing abuse.”
If you would like to join Upbring in breaking the cycle of child abuse or to learn more about how to donate cryptocurrency, please visit https://upbring.org/give-crypto/.
Abuse insults our humanity, and it is our mission to break that cycle. With more than 1,000 employees who serve in one of our 80 locations across Texas, Upbring is a leading nonprofit child wellbeing organization in the state. Foster care and education are at the forefront of our work, joined by other vital mission-oriented programs under the same mission: to break the cycle of child abuse by empowering children, families and communities. With our partners, we deliver services that produce measurable progress toward five key markers of every child’s wellbeing: safety, life skills, education, health and vocation.