Hawaiʻi Theatre Launches Campaign for Cryptocurrencies Donations

The Hawaiʻi Theatre Center today announced that it has started accepting donations in several cryptocurrencies as part of a campaign to raise $10,000 to underwrite an upcoming performance.

Cryptocurrencies that will be accepted include:

• Bitcoin (BTC), Ethereum (ETH), Amp (AMP), Basic Attention Token (BAT), Bitcoin Cash (BCH), ChainLink (LINK), Dai (DAI), Dogecoin (DOGE), The Graph (GRT), Gemini Dollar (GUSD), Litecoin (LTC), Storj (STORJ), UMA (UMA), Zcash (ZEC), 0x (ZRX) and 1inch (1INCH).

Hawaiʻi Theatre Center is a 501(c)3 organization whose mission is to provide a broad range of entertainment, cultural and educational experiences; promote redevelopment and revitalization of downtown Honolulu/Chinatown; and enhance the quality of life in Honolulu.

By accepting cryptocurrencies, Hawaiʻi Theatre Center is offering supporters with cryptocurrency portfolios “the ability to support the organization in a tax efficient way.” The IRS classifies cryptocurrency donations as property, meaning they are not subject to capital gains tax and are tax deductible on the donor’s tax returns.

“For the last three years we have been seeking a solution to accept cryptocurrency donations to support the historic Hawaiʻi Theatre, and we’ve finally found a solution that will make us the first organization in the State of Hawaiʻi to publicly accept donations through The Giving Block platform,” said Gregory Dunn, President & CEO, Hawaiʻi Theatre Center. “We are fortunate that the State of Hawaiʻi, through the Hawaiʻi Technology Development Center opened the pathway for charities to legally accept these donations.” 

The Hawaiʻi Theatre Center campaign seeks to raise $10,000 in cryptocurrency to underwrite a performance of the premiere of The SpongeBob Musical coming to the historic stage this July.

The Theatre’s Summer Intensive Theatre Camp presented in partnership with the Pacific Academy of Performing Arts. This camp works to bring youth to the big stage, while teaching them important life skills like self-confidence, independence, music, acting and public speaking.

“This will be the first time a public livestreamed performance has been fully funded by cryptocurrency, not only in Hawaiʻi, but nationally,” said Dunn. “We’re looking for other cryptocurrency trailblazers to join us in showing the power of philanthropy in supporting youth in the arts. In the State of Hawaiʻi, less than 3% of all charitable giving supports arts organizations. We’re looking to crypto as a way to amp that number up.”

Organization leaders with the Theatre report the nonprofit has suffered financially as a result of the prolonged COVID-19 related shutdown. By accepting cryptocurrency donations, the organization hopes to welcome donors who are seeking ways to do good through donations of their cryptocurrency holdings. 

Hawaiʻi Theatre Center will be working with The Giving Block, leaders in equipping nonprofits with the tools and techniques to effectively fundraise with cryptocurrency. 

To donate cryptocurrency to Hawaiʻi Theatre Center visit https://www.hawaiitheatre.com/crypto