As executive director of the Children’s Museum in Oak Lawn, Adam Woodworth is always fundraising — and always keeping his eyes peeled for new ways to do it. From the Daily Southtown.
While the crypto donations may not be making a huge impact on the bottom line, the museum is reaching a different market with them. Older people still are writing checks for their donations, and “a lot” of other folks use credit cards, Woodworth said. But crypto is appealing to a younger audience.
The museum’s leadership considered holding the crypto in its original state, rather than immediately converting it to dollars, Woodworth said. But the volatility of crypto is a concern for the nonprofit, and Woodworth could not find any others who are holding it. The Internal Revenue Service also treats crypto more like stock than cash, so tracking gains and losses with the value of donations can get difficult.
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