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BankerDoge

Buying Guide

Charity

The Altruism Protocol and charity go hand in hand. Read more about the requirements and process below. 

How to Apply

In order to apply for an Altruism Protocol donation, please read through the requirements below and complete a donation proposal form using this link. In the donation proposal form, please make sure to fill out all of the required fields and to attach the proper documentation as described below. Organizations that fail to provide us with all of the required information or documents will not be eligible for donations.

Requirements

  • The following documents must be included in your proposal:
    • 501(c)(3) Form
    • Form 990
    • IRS Non-Profit Determination Letter
  • Currently, Altruism Protocol donations are limited to organizations with a presence within the United States, as to comply with the above documentation. We hope to expand to international organizations as we grow.
  • Donations are limited to organizations that have been in operation for at least one year.
  • Political organizations will not be eligible for this program.
  • Your non-profit must be able to accept donations in the form of cryptocurrency.
  • All funding received from The Altruism Protocol must be used for the purposes as specified on your proposal.

How Charities Are Chosen

Currently, the Altruism Protocol team will review and approve applications to be voted on by the coin holder community. In the future, as the transition to a decentralized model takes place, the process of approving applications to be voted on will be similarly decentralized. We are in the process of developing a more automatic system for approving donation proposals in order for them to be voted on by the Altruism Protocol community.

Some of the factors we use to evaluate the non-profits include:

  • Past Projects – By looking at projects an organization has completed, we gain a better understanding of their mission and the type of work they are involved in. These projects also give us an idea of the impact the organization has created as well as how their funds are utilized.
  • Charity Navigator Rating – Charity Navigator is a well known tool that helps people evaluate the efficacy of charities. While we do take several other factors into consideration, Charity Navigator is able to give us a quick snapshot of the overall health and transparency of an organization.
  • Age – While relatively new organizations are important and helpful, we do currently restrict donations to those that have been in operation for at least one year. This helps ensure that the funds are donated to legitimate organizations with proven track records.
  • Percentage of Donations Applied to Programs vs Staff – While large and complicated organizations require larger and more specialized staff to carry out their visions, we take into consideration how directly the funds will be able to be used within programs.
  • Funds Distribution – We understand that although funding is meant for certain projects, part of the donations are also allocated to administrative expenses. However, we would like to ensure that the majority of our funding is applied to the projects, and therefore, we look into how the money is distributed by an organization.
  • Funds Efficiency – The Altruism Protocol wants to make sure that its donations are going to organizations that can make the most impact with it.
  • Transparency – As one of the fundamental pillars of the Altruism Protocol, transparency is required in all of our projects and partners. We should be able to easily access information about the charity and its projects as well as clearly evaluate financial reports and performance matrices from the organization.
  • Financial Health – We want to make sure that any projects we donate to can be fully realized and supported. This means that Part of that is ensuring that the funds are going to an organization that will be able to use them for projects that will last for years.