'Historic Day': Community Center Endowment Seeded by Cryptocurrency
One of the first times in the United States that an endowment fund has been jump started by cryptocurrency. Businessman and Entrepreneur Matt King commits $100,000 to the Middletown Community Center Fund in Middletown Ohio.
MIDDLETOWN, Ohio., Dec. 06, 2021 (GLOBE NEWSWIRE) -- On this Giving Tuesday, history has been made in Middletown, Ohio. This is one of the first times in the United States that an endowment fund has been jumpstarted by cryptocurrency. The Northern Cincinnati Foundation announces that Matt King, local businessman and entrepreneur, has committed $100,000 to the Middletown Community Center endowment fund which will help to sustain the ongoing operational expenses of the current Robert Sonny Hill Jr. Community Center.
"For nearly a century, this center has been a place where families and children play, socialize, and utilize invaluable services. The backbone of this center will never change but in order to grow and innovate, we need to change the way we do business. Cryptocurrency is no longer something that is talked about in Chicago, Silicon Valley or Wall Street. It is happening here in Butler County," said Matt King.
In partnership with the Northern Cincinnati Foundation, Matt King will be donating various cryptocurrencies such as Bitcoin, Ethereum and Cardano to fund the initial investment needed to launch the Middletown Community Center Fund. The goal for the endowment fund is $5,000,000.
"With cryptocurrency becoming more prevalent, we are excited to be among the first local foundations to put cryptocurrencies to use in the philanthropic sphere," said Erin Clemons, president & CEO of the Northern Cincinnati Foundation. "Adding this service gives donors another way to make an impact for the causes they care about."
Matt King continued, "Young people are fascinated with crypto! This is a way to show young people how to get involved in the community. You can be charitable at any age and at any dollar amount."
To contribute to the fund, please reach out to the Northern Cincinnati Foundation.
Since 1999 the Northern Cincinnati Foundation has been the primary resource for philanthropy in the northern Cincinnati region, providing a variety of charitable funds and gift options for donors. As the savings account for the communities we serve, the Foundation is building a sustainable source of funding to meet current and future needs. The Northern Cincinnati Foundation brings together donors, professional advisors, and nonprofit agencies to transform generosity into impact.
Please reach out to Erin Clemons at erin.[email protected] for additional questions.
Cryptocurrency Seeded Endowment Fund
Matt King commits $100,000 to the Middletown Community Center to assist in ongoing operations. This initial investment will be made through crypto currency.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7d899920-7180-4e8f-a833-fc19d1190976
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