Yes. Endaoment is a California-based Public Charity and Nonprofit Public Benefit Corporation, federally tax-exempt under IRS Rev. Code Sec 501(c)(3). Our EIN is 84-4661797.
See our IRS determination letter here:
See our 1023 packet here:
Yes. Our Fund and Organization digital smart contracts (the software governing the movement of funds) was audited by industry leading blockchain research firm OpenZeppelin.
Once you have claimed your organization and a grant has been made and approved for your organization, we will be in touch via e-mail to let you know you have a grant ready to be transferred to your organization.
We'll confirm your preference for delivery of awarded funds and transfer the assets to your organization.
Currently there is no limit to how much money your organization can receive from Endaoment.
However, as with other DAFs, the donor is permitted to provide specific instructions for the use of the grant.
No. All grants awards are made in dollars.
We suggest receiving grant awards as USDC, a "digital dollar" that's always redeemable 1:1 for USD. Alternatively, we can securely process a wire transaction to get granted funds into your organization's bank account for a small fee.
We recommend you use MetaMask, as they've simplified the process and is the go to site for our Endaoment employees.
Read our how-to for getting setup with MetaMask here: Create a Crypto Wallet
Yes, should the Donor choose to be disclosed.
Just like when you receive granted dollars from a traditional DAF provider, Endaoment will provide you with some basic identifying information about the donor should choose to have it disclosed. This information will be included in our Grant Award Letter to your organization.
Send them to Endaoment! We'll on-board them through to our system and assist as they attempt to donate crypto currency to your organization.
Yes - there are some clear benefits to using a crypto wallet to withdraw your granted funds.
If you get a wire to transfer the funds into your bank account, you are responsible for paying the $25 charge for the wire (which is deducted from the granted amount), and it can take up to a few days to complete.
However, cryptocurrency can be transferred to your organization's wallet almost instantly for no fee—we cover the transaction cost.
First of all - congratulations on setting up a wallet with MetaMask and receiving donations in USDC! This step in the process can be quite the hurdle however, now that it is cleared, there are a world of possibilities to earn on your idle USDC (that is if you do not have an immediate need for the donation and the donor did not instruct specific uses for the funds).
There are a number of projects in the DeFi ecosystem that allow you to generate passive income on your stablecoins. While the team at Endaoment cannot recommend any yield aggregator in particular, other organizations who have received donations in USDC are leveraging DeFi to grow their donations. Head over to our Discord channel, and connect with these other organizations in #org-support!