COLORADO SPRINGS, Colo., Oct. 12, 2021 /PRNewswire/ -- Compassion International, one of the largest nonprofit organizations in the US and a world leader in child development, today announced a partnership with Engiven, Inc., a leading cryptocurrency donation platform, to offer a new alternative for supporters to help children in poverty.
Also known as virtual currency or "crypto," cryptocurrency is a digital asset that functions as an alternative to sovereign fiat currencies, such as the US dollar. Quickly becoming mainstream, crypto can be used to purchase coffee, clothing, and even airline tickets.
Crypto has more than 200 million users globally and a tremendous growth in acceptance, especially with tech-forward supporters. The average age of a current crypto investor is 38 years old, and nearly a third of millennials trust cryptocurrency more than big banks and prefer it as an investment option even over US government bonds.
Compassion's partnership with Engiven will enable the ministry to safely and securely receive donations of Bitcoin, Ethereum, and 37 of the most prevalent cryptocurrencies to help fund its mission of releasing children from poverty in Jesus' name.
"We're so grateful to partner with Engiven to better serve our supporters," said Yaro Hetman, senior director of innovation for individual supporters at Compassion. "Crypto donations continue to rise each year, and this initiative will be instrumental in opening the door to many prospective supporters and enabling us to serve their giving preferences."
Because all donations are automatically converted to US dollars, supporters can choose a one-time donation to a specific cause or a recurring donation each month – with payments as low as $5 accepted. Compassion has made it easy for our supporters to determine how to best allocate their cryptocurrency donations, offering several contribution options, including Where Most Needed, Clean and Sanitary Water, and Disaster Relief. Supporters can also use crypto to support the Unsponsored Children's Fund, which helps nearly 260,000 children receive the same benefits as sponsored children while they wait for a sponsor.
"Engiven's team has personally supported Compassion's mission for many years, and we're excited to come alongside them as their partner to make cryptocurrency an important part of funding their mission," said James Lawrence, Engiven's co-founder and CEO.
The donation platform provides a strong donor tax benefit option and end-of-year charitable giving opportunities for supporters, making cryptocurrency a powerful new addition to Compassion's fundraising strategies.
Wally Tsuha, founder and president of Tsuha Capital and The Tsuha Foundation, adds, "Compassion International has an incredible mission that impacts the lives of so many children around the world. My cryptocurrency donation reflects my heart for supporting Compassion's efforts while receiving the tax benefits that donating appreciated crypto can provide. It's a win-win and I'm so thankful that Engiven now enables me to support Compassion International."
With COVID-19 reversing decades of progress in curbing global poverty, both Engiven and Compassion agree the timing of this announcement couldn't be better.
Hetman concludes, "An estimated 582 million children lived in poverty before COVID-19. And UNICEF projected that 142 million more children would be added to that number and an additional 6,000 children under age 5 could die per day due to the pandemic. This is unacceptable. And we're eager to offer cryptocurrency donations as another option in our battle to defeat poverty."
About Compassion International
Compassion International is a Christian child development organization working to release children from poverty in Jesus' name. Founded in 1952, Compassion partners with more than 8,000 local churches in 25 program countries to deliver spiritual, economic, social, and physical care to over two million babies, children, and young adults in poverty. Ranked No. 8 in Forbes' America's Top Charities List in 2020, Compassion is a founding member of the Evangelical Council for Financial Accountability and an accredited charity with the Better Business Bureau's Wise Giving Alliance. For more information, visit compassion.com or follow us on Facebook, Instagram, and Twitter.
Engiven is a leading cryptocurrency donation management platform providing an end to end giving solution benefiting nonprofits and their donors. For more information about Engiven, visit https://engiven.com or contact James Lawrence, Cofounder and CEO at email@example.com or Ryan Fox, CMO at firstname.lastname@example.org.