We are thrilled to announce a major milestone: UI Charitable has distributed the first grant from a Donor-Advised Fund (DAF) sent directly in bitcoin to a nonprofit organization.
This innovative step marks an industry-first, showcasing the evolving role of cryptocurrency in philanthropy. The grant was sent to Base58 School of Engineering (EIN: 93-4881116), a charity dedicated to educating software engineers about the bitcoin protocol.
“Base58 is thrilled to be the recipient of the world’s first donor-advised fund bitcoin grant! This grant will be used this Fall as a scholarship fund for five software engineers who want to learn the basics of programming bitcoin. We’re grateful to University Impact and Unchained for creating charitable products that leverage bitcoin!”
Lisa Neigut,
Founder, Base58
This grant came at the recommendation of one of our valued donors through our partnerships with Sound Advisory and Unchained, where we provide collaborative custody solutions for bitcoin Donor-Advised Funds. Through multisig vaults, donors can contribute, hold, and distribute bitcoin without needing to convert it to and from U.S. dollars at any point in the process. This is the first DAF solution to enable contributions, custody, and giving entirely in bitcoin. In addition to providing enhanced security—allowing donors to verify their holdings on the blockchain—it also benefits charities that prefer to retain bitcoin by helping them avoid costly exchange fees.
Throughout the process, UI Charitable custodies the assets while empowering donors with the ability to recommend grants. When a donor recommends a grant, both UI Charitable and the donor sign the transaction, creating a secure process for distributing bitcoin donations.
Sending a direct bitcoin grant opens up new possibilities for donors and nonprofits alike, offering a unique way to support charitable causes while embracing the potential of digital assets.
About UI Charitable
At UI Charitable, we strive to make charitable giving more flexible and forward-thinking by offering a variety of charitable giving solutions. Our mission is to empower donors to give how, when, and in the currency they choose. We believe that embracing the potential of bitcoin and other digital assets aligns with our mission to provide cutting-edge charitable solutions, giving both donors and nonprofits greater flexibility in how they manage and use their charitable resources.
As cryptocurrency continues to gain traction, UI Charitable remains committed to leading the charge in offering new, creative ways to support philanthropy.
