At The River Food Pantry, monetary donations often come in the form of cash, credit, or check.
Earlier this year, the food pantrys online giving platform expanded to accept cryptocurrency.
Unlike a government issued currency that uses dollars or coins, crypto is a completely digital asset.
People can buy, sell, or trade crypto just like stocks or bonds.
Crypto donations to tax exempt non-profits are not subject to capital gains tax.
Additionally, crypto donations are tax deductible.
The Association for Fundraising Professionals Greater Madison Chapter is starting to educate some of its members about digital currency donations.
Jen Davie, the AFP Greater Madison Chapter Director says many members feel apprehensive about accepting gifts like this.
The biggest concern comes from an unfamiliarity with digital currency because of how new it is to many people.
Non-profit fundraising teams never want to be in a position to turn away a donation, both Wiedmeyer and Davie agree.
To help educate other fundraising teams, the Association of Fundraising Professionals Greater Madison chapter is hosting a webinar Crypto for Good on July 19 from noon to 1 p.m.
The cryptocurrency market has fallen drastically in recent months.
Brad Chandler, the Director of the Nicholas Center for Corporate Financing and Investment Banking, taught one of the first cryptocurrency classes at UW-Madison.
Chandler advises his students, and anyone looking to learn more about crypto, to understand the fluctuation of the market.
Despite the current market, Chandler believes cryptocurrencies provide healthy economic competition when compared to other currencies.