In an announcement, Burning Man, the organization best known for its annual week-long celebration of cutting-edge culture in Nevada’s Black Rock Desert, says that it is accepting Bitcoin donations to extend its reach. The organization says that ticket sales to the ‘Black Rock City’ event generally cover production costs.
However, donations will help cover the Burning Man’s growing year-round program of other activities, including Global Art Grants program, the Big Art for Small Towns program and art honorariums. Talking to media professionals Burning Man CEO Marian Goodell said that donations will help provide more grants, training and support.
According to her, the donated Bitcoin will be used to fund creators of radically interactive art and events on and off the playa, fund civic programs, teach communities the power of collaboration, and strengthen the infrastructure. She admitted that the collected donations will make the Burning Man experience accessible year-round.
Nonetheless, she also concedes that accepting Bitcoin for donations is an experimental first step as Burning Man is not accepting Bitcoin payments for tickets just yet; however, she promises that it plans to explore that and other possibilities in the future. A lot of Bitcoin supporters are just waiting for the moment when it decides to accept Bitcoin for tickets.
Burning Man, a recognized non-profit organization provides an opportunity for tax-free donations; thus, all donors who wish to contribute would not need to pay taxes on the donations that they give. Spokesperson Jim Graham admitted a number of participants and team members over the years had asked whether Burning Man would accept Bitcoin.
Tax Free Donations
He says that his organization have had two in-house advocates championing it. People probably know that Burning Man attracts a broad range of tech people and early adopters and it made sense for the organization to explore the idea and look at donations to the non-profit as a starting point.
The organization promises that all Bitcoin donations will be converted to dollars upon receipt, and for the purpose to receive Bitcoin it has chosen the payment processor Coinbase. According to the organization, Coinbase has a robust platform that is not just secure but also does not charge fees to non-profits.
Donors who wish to help the organization that supports civic art programs and volunteer group Burners Without Borders, and provides grants for community initiatives can now pay in Bitcoin using the services from Coinbase.
To contact the reporter of this story: Deepak Tiwari at email@example.com